World personal cloud worth $90 billion by 2020 says Allied Market Research

The personal cloud market will have a compound annual growth rate of 33.1 per cent between now and 2020, by which time it will be worth $89.9 billion globally, according to a new study.

The report, World Personal Cloud Market- Opportunities and Forecasts, 2014-2020, says growing customer awareness of personal cloud services is driving the growth. Europe and the USA will be surpassed by the Asia-Pacific region as the most voracious users of personal cloud apps, with the latter accounting for two-fifths of total market share in 2020.
Advances in smartphones, tablets and mobile devices have boosted the growth of the personal cloud market as storage needs grow, it says. The change was catalysed by the virtualizing of the work environment as employers began using personal cloud storage as a solution to work problems, says the report.

Personal cloud market set to reach $90 bn by 2020

The global personal cloud market is estimated to have revenues of $89.9 billion by 2020, according to new research.

The report by Allied Market Research, titled World Personal Cloud Market - Opportunities and Forecasts, 2014-2020, said that the market would increase by 33.1 per cent between 2015 and 2020. It said that growing customer awareness is expected to boost the growth of the personal cloud services in future.

“Personal cloud for individuals, which is the foremost application of these solutions, would continue to lead the market in future,” the report said.

But growing demands from the Asia-Pacific region would lead to a major turnaround in the market and would constitute about two-fifths of total market share in 2020, surpassing North America and Europe.

“Technological advancements in the fields of cloud computing and electronic gadgets have led to the advent of the digital era,” said the analyst firm.

It cited increasing adoption of smartphones, tablets and other mobile devices as boosting the growth of personal cloud market owing to increasing storage requirements. Several organisations have focused on improving productivity by developing a virtualised workplace using personal cloud storage service, it said.

Read More : http://www.cloudpro.co.uk/cloud-essentials/public-cloud/5332/personal-cloud-market-set-to-reach-90-bn-by-2020

World Personal Cloud Market Is Expected to Reach $89.9 Billion by 2020, Finds New Report

Market Research Reports, Inc. has announced the addition of “World Personal Cloud Market - Opportunities and Forecasts, 2014 -2020” research report to their

World Personal Cloud Market Opportunities and Forecasts, 2014–2020," the world personal cloud market is estimated to garner revenue of $89.9 billion by 2020, registering a CAGR of 33.1% during 2015–2020. Growing customer awareness is expected to boost the growth of the personal cloud services in future. Personal cloud for individuals, which is the foremost application of these solutions, would continue to lead the market in future. However, the growing demands from the Asia-Pacific region would lead to a major turnaround in the market and would constitute about two-fifths of total market share in 2020, surpassing North America and Europe.

Technological advancements in the fields of cloud computing and electronic gadgets have led to the advent of the digital era. Increasing adoption of smartphones, tablets and other mobile devices have boosted the growth of personal cloud market owing to increasing storage requirements. Several organizations have focused on improving productivity by developing a virtualized workplace using personal cloud storage solutions.

Technological advancements in the fields of cloud computing and electronic gadgets have led to the advent of the digital era. Increasing adoption of smartphones, tablets and other mobile devices have boosted the growth of personal cloud market owing to increasing storage requirements.



Read more: http://www.digitaljournal.com/pr/2704284