Persistence Market Research (PMR) offers an eight-year forecast for the global consumer cloud storage services market between 2018 and 2026. In terms of value, the market is expected to register a single-digit CAGR during forecast period. This study demonstrates the market dynamics and trends globally across seven regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa, which influence the current nature and future status of the consumer cloud storage services market over the forecast period.
This research report provides a detailed analysis of the consumer cloud storage services market and offers insights about the various factors driving the popularity of consumer cloud storage services technology and its advantages. The report includes an extensive analysis of key industry drivers, challenges, market trends, and market structure. The market study provides a comprehensive assessment of stakeholder strategies and imperatives for succeeding in the business. The report segregates the market based on storage tier, user age, and different regions globally.
The consumer cloud storage services market is expected to witness significant value growth during the forecast period owing to an increase in the demand for mobile devices and the number of Internet users around the world.
The report starts with an overview of the consumer cloud storage services market in terms of value. In addition, this section includes an analysis of key trends, drivers, and challenges from the supply, demand, and economy side, which are influencing the consumer cloud storage services market.
The consumer cloud storage services market is classified on the basis of storage tier, user age, and region. On the basis of storage tier, the market is subsegmented into 50 GB-999 GB, 1 TB - 9.99 TB, and >= 10 TB. Furthermore, by user age, the global consumer cloud storage services market is segmented as < 18 years, 18-40 years, and >40 years. The 18-40 years subsegment accounted for a relatively higher share because of an increase in the demand for BYOD in various developed and developing nations.
A detailed analysis has been provided for every segment in terms of market size analysis for the consumer cloud storage services market across different regions. This section provides a detailed analysis that covers key trends.
The next section contains a detailed analysis of the consumer cloud storage services market across various countries in the region. It provides a market outlook for 2018–2026 and sets the forecast within the context of the consumer cloud storage services market, which includes latest technological developments as well as offerings in the market. This study discusses key trends in various countries, which contribute to the growth of the market, as well as analyses the degrees at which drivers are influencing this market in each region. Key regions and countries assessed in this report include North America (U.S., Canada), Latin America (Brazil, Mexico, & Rest of Latin America), Europe (Germany, U.K., France, Spain, Italy, Poland, Russia, and Rest of Europe), Asia Pacific (China, Japan, India, ASEAN, Australia & New Zealand, and Rest of Asia Pacific), and MEA (GCC Countries, Northern Africa, South Africa, Turkey, and Rest of MEA). This report evaluates the present scenario and the growth prospects of the consumer cloud storage services market across various regions globally for the period 2018 –2026. We have considered 2017 as the base year and provided data for the remaining eight months.
To offer an accurate forecast, we started by sizing the current market, which forms the basis of how the consumer cloud storage services market will grow in the future. Given the characteristics of the market, we have triangulated the outcome of different types of analysis based on technology trends.
As previously highlighted, the global consumer cloud storage services market is split into a number of segments. All segments in terms of storage tier, user age, and different regions are analyzed in terms of basis points to understand the relative contributions of individual segments to market growth. This detailed level of information is important for the identification of various key trends in the global consumer cloud storage services market.
In addition, another key feature of this report is the analysis of all key segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global consumer cloud storage services market.
In the final section of the report, we have included a competitive landscape to provide clients a dashboard view based on the categories of providers in the value chain, their presence in the consumer cloud storage services market, and key differentiators. This section is primarily designed to provide clients an objective and detailed comparative assessment of key providers specific to a market segment in the consumer cloud storage services supply chain and the potential players for the same. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on the in-depth assessment of their capabilities and success in the marketplace. Detailed profiles of providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings, and recent developments in the consumer cloud storage services market. Some of the key competitors covered in the consumer cloud storage services market report are Apple Inc.; Google (Alphabet Inc.); Box, Inc.; Dropbox, Inc.; Amazon.com, Inc.; Microsoft Corporation; Sync.com Inc.; Hubic (OVH) Mediafire and pCloud AG.
Key Regions covered:
Consumer cloud storage services allow users to store, download, edit, and share their media content such as videos, images, documents, and other files on the cloud. These consumer cloud storage services support more than 270 file formats and 100 languages. Consumer cloud storage services facilitate working with personal devices such as smartphones, tablets, notebooks, and others.
In this report, PMR has segmented the global consumer cloud storage services market on the basis of storage tier, user age, and region. By storage, the market is sub-segmented into 50 GB-999 GB, 1 TB - 9.99 TB, and >= 10 TB. The 50 GB-999 GB subsegment is expected to grow at a relatively higher CAGR as the demand for virtual data storage is growing rapidly in various countries, such as India, the U.K., and China, due to a continuous increase in the number of mobile workforces. Moreover, the global adoption of the Internet is rapidly driving the usage of advanced consumer cloud storage services. Furthermore, the 50 GB-999 GB subsegment is also expected to capture the largest share in the global consumer cloud storage services market and is expected to create an incremental opportunity of more than US$ 1000.0 Mn between 2018 and 2026.
The 1 TB - 9.99 TB subsegment is also expected to witness high growth rates during the forecast period as the generation of user data is increasing very rapidly in various developing countries around the world. Furthermore, this segment is expected to create an incremental opportunity of more than US$ 700.0 Mn during the forecast period.
Growth in the number of mobile devices and the rising adoption & penetration of the Internet are among factors driving the consumer cloud storage services market. Owing to these factors, the >= 10 TB subsegment is projected to register a double-digit market share in 2018 in the global consumer cloud storage services market.
Based on the age of users, the consumer cloud storage services market is subsegmented into < 18 years, 18-40 years, and >40 years. Growth in the demand for consumer cloud storage services for data storage as well as advancements in mobile communication technologies are some of the major factors promoting the growth of the market. Furthermore, the 18-40 years subsegment is expected grow at a relatively higher CAGR during the forecast period. Moreover, the presence of next-generation cloud technologies and the deployment of 5G networks across the globe are also some of the factors driving the consumer cloud storage services market.
On the basis of geography, the North America consumer cloud storage services market is expected to dominate the global consumer cloud storage services market due to advancements in next-generation communication technologies in the country. In addition, the region has witnessed the widespread deployment of cloud technologies in the past couple of years. These factors are fuelling the growth of the consumer cloud storage services market in North America. The consumer cloud storage services market has high potential in Europe owing to major technological advancements in the telecommunication industry and an increase in the mobile workforce in various countries of the region.
According to PMR analysis, long-term contracts with business partners are likely to increase revenue and new innovation strategies are estimated to enable the vendors of consumer cloud storage services to reach new growth markets. Some of the key participants in the global consumer cloud storage services market report include Apple Inc.; Google (Alphabet Inc.) Box, Inc.; Dropbox, Inc.; Amazon.com, Inc.; Microsoft Corporation; Sync.com Inc.; Hubic (OVH) Mediafire and pCloud AG.