Report DescriptionAbout IMARC Group

The International Market Analysis Research and Consulting Group is a leading adviser on management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, chemicals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and markets with close cooperation at all levels of the client organization. This ensures that our clients achieve unmatchable competitive advantage, build more proficient organizations, and secure lasting results.

Global Personal Cloud Market Research Report:

The latest report by IMARC, titled “ Personal Cloud Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2 028

” " the global personal cloud market reached a value of US$ 24.0 Billion in 2022. Personal cloud is a local network-attached storage (NAS) cloud facility that is widely used for facilitating file storage and sharing among the employees within an organization. It is used for storing personal or professional data in the form of videos, photos and documents. It is utilized for safeguarding crucial business documents while enabling synchronization of sensitive data with multiple devices, such as tablets, smartphones and personal computers. Apart from this, these solutions are an assembly of digitally stored services and information that can be remotely accessed in a convenient manner. As a result, theyareincreasinglyutilizedinsmallandmediumenterprisesacrossvariousenduseindustries.

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Global Personal Cloud Market Trends :

The global market is majorly driven by the rapid digitization across numerous industries. Coupled with the rising trend of remote working and bring your own devices (BYOD), this is expected to provide a boost to the market growth. Moreover, the widespread preference for cloud-based data recovery systems across small and medium organizations across the globe is also creating a positive outlook for the market. The market is further driven by the increasing popularity of social media platforms among the masses, which has provided an impetus to the demand for personal storage systems for storing data that can be accessed across several devices. Apart from this, continual technological advancements in the market have led to the rising preference for Cloud as a Service (CaaS) business models that offer enhanced flexibility, improved productivity and reduced infrastructural costs, thereby creating a positive outlook for the market. Some of the other factors contributing to the market include significant growth in the information technology (IT) industry, the proliferation of high-speed internet connectivity and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 18.72% during 2023-2028.

Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).