Businesses that have embraced the cloud have done so because they can save money, efficiently serve more users and streamline their business processes.
What if consumers could implement the same strategies utilized by businesses concerning the cloud? People could effectively use the cloud to save money, live healthier and become a more well-rounded person.
The folks at Allied Market Research have released a study called: “World Personal Cloud Market – Opportunities and Forecasts.” The report details Allied’s predictions for the personal cloud market giving readers analysis on the market trends up until the end of the decade.
Allied mentions that the personal cloud market could be worth $89.9 billion dollars by 2020. This represents a compound annual growth rate of 33.1% between 2015 and 2020.
“Technological advancements in the fields of cloud computing and electronic gadgets have led to the advent of the digital era,” mentions a press release on the report.
“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,” adds Allied in their press release.
Allied goes into great detail talking about various different business models segmented by the personal cloud market. As social media and other digital media platforms become more popular, these services will likely build-in some sort of cloud storage option or allow consumers to bring their own cloud storage, such as a DropBox or a OneDrive.
Allied goes on to say that there is a chance that the Asia-Pacific (APAC) region could outpace North America in personal cloud technology adoption. With people in this region using personalized technology at a higher rate, coupled with the regions fast broadband connections; personal cloud vendors could likely thrive by setting up shop in this region.