16 Mar
2016
Personal cloud enables users to store, access, synchronize, and share data across various devices. The demand for personal cloud services is increasing owing to its benefits, such as convenience, flexibility, and enhanced productivity. Business applications need personal cloud services to enable developers to build new applications rapidly and align their businesses to digital transformation era. Furthermore, the simplification of application deployments, application development, and application usage is possible using personal cloud platforms, such as Platform-as-a-Service (PaaS).
Personal cloud services offer faster, on-demand access to IT infrastructure. But, deploying virtualized infrastructure in organizations does not mean Platform-as-a-Service (IaaS) cloud is deployed. IaaS automates several tasks, such as addressing, network routing, and load-balancing that virtualized infrastructure cannot. So deployment of personal cloud services such as IaaS reduces IT costs. In order to cope with digital transformation age and fulfill the requirement of application centric services, companies are preferring in-house development of applications.
The world personal cloud market is segmented based on revenue, deployment, hosting type, and geography. Revenues are generated in personal cloud market through direct and indirect modes. As per Allied Market Research, direct revenue type constituted 56% of the total market in 2014. However, indirect revenue type would be highest revenue generating segment by 2020 registering 37.8% CAGR. Indirect revenues generated through modes, such as advertisement and lead generation would constitute 53% of market share. Personal clouds are deployed in small businesses, medium businesses, and individuals. Individual users had market share of 58% in 2014 and continue to dominate by 2020 by generating nearly 60% of total revenue. However, Small business would register the highest growth by registering a CAGR of 35% from 2015 to 2020.
According to analyst at Allied Market Research, provider-hosted cloud solutions generated 85% of total revenue in 2014 and would constitute 75% of market share by 2020. User-hosted cloud solution segment is expected to register highest CAGR of 46% from 2015 to 2020. North American region was the highest revenue generating market in 2014 constituting approximately 37% of total revenue. However, emerging trend of multi-device ownership would fuel the market in Asia-Pacific region. Nearly 40% of the revenue would be generated from APAC region by 2020. Latin America, Middle East, and Africa (LAMEA) region would be the fastest growing region, registering a CAGR of 44.6% from 2015 to 2020.
Increasing usage of camera-equipped devices, tech-savvy population, and fast access to data are factors driving personal cloud market. Service providers are launching new products, merging, and partnering with big companies to provide better services and attract users. Acquisition of PistonCloud by Cisco, Nebula by Oracle, and enStratius by Dell outlines that leading software companies are entering in personal cloud market to expand their businesses.
Analysts studying the personal cloud market have presented significant market statistics through research reports. Allied Market Research has published a report titled, “World Personal/Private Cloud Market - Opportunities and Forecasts, 2014 -2020.” As per the report, the world personal/private cloud market is estimated to grow at a CAGR of 33.1% from 2015 to 2020 and would reach $89.9 billion by 2020. The report provides a comprehensive analysis of key drivers & opportunities, prominent companies, competitive intelligence, and detailed segmentation.
Akhilesh Prabhugaonkar
Author's Bio- Akhilesh Prabhugaonkar holds a bachelors degree in Electronics Engineering from the reputed Vishwakarma Institute of Technology. He has a special interest in the fields of forensics, world history, international relations and foreign policy, sports, agriculture, astronomy, security, and oceanography. An ardent bibliophile and melophile, Akhilesh loves to write on topics of his interest and various other societal issues. This love for writing made him enter the professional world of content writing and pursue his career in this direction.
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