According to the latest report by MarkNtel Advisors, titled “Global Personal Cloud Market By Type (Online Cloud, NAS Device Cloud, Server Device Cloud, Home-made Cloud), By User Type (Consumer, Enterprise), By Hosting Type (Provider Hosting, User/Self Hosting), By Revenue Type (Direct Revenue, Indirect Revenue), By Vertical (BFSI, Energy & Utilities, Government & Public Sector, Telecommunications, IT & ITes, Retail & E-commerce, Manufacturing, Media & Entertainment, Healthcare & Life Sciences, Others) and others , The Global Personal Cloud Market size was valued at USD 23.4 billion in 2023 and is estimated to grow at a CAGR of around 19.5% during the forecast period, i.e., 2024-30. The report provides a thorough analysis of the market, covering competitor dynamics, regional insights, and a detailed breakdown of industry segments.
Base Year: 2023
Forecast Period: 2024-30
Historical Data: 2019-22
CAGR (2024-2030): 19.5%
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Integrating with Applications from Third-party Providers to Impede the Market Expansion – The Personal Cloud Market faces a major obstacle relating to third-party application integration. Despite aiming to provide users with an all-inclusive and centralized data management solution, the smooth integration of numerous third-party applications presents a significant challenge.
As individuals and organizations use a variety of software applications, there is a growing need for compatibility & interoperability between these apps and personal cloud platforms. Achieving this requires collaborative efforts to standardize practices across multiple software vendors. Personal cloud providers also face challenges regarding varying APIs, data formats, and security protocols across different applications. These challenges are compounded by the need to protect sensitive information, requiring third-party integration, to not compromise user data integrity.
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-By Verticals
The BFSI industry is at the forefront of market dominance and is anticipated to have the biggest share in the Personal Cloud Market over the past few years.
-By Revenue Type
The Indirect Revenue segment is expected to capture the largest share of the Personal Cloud Market.
-By Type (Qualitative Analysis)
-By User Type
-By Hosting Type (Qualitative Analysis)
-By Region
North America is set to dominate the Personal Cloud Market within the projected timeframe, with predictions highlighting the US as its biggest contributor.
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