The Global Market for Consumer Cloud Services is Forecast to Reach US$105.7 Billion by 2022

Changing Digital Consumer Behavior With Respect to Personal Data Management Drives the Global Market for Consumer Cloud Services, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Consumer Cloud Services market. The global market for Consumer Cloud Services is forecast to reach US$105.7 billion by 2022, driven by the consumer digital revolution supported by the rise of smartphones capable of connecting to the Internet and producing and consuming digital data and the resulting creation of a new class of empowered consumer ready to manage their own personal data.

In the current era of ubiquitous information, pervasive computing and instant communication, IT especially consumer IT is gaining a form grip on modern human civilization. The rise, proliferation and evolution of a wide range of clouds in the cloud computing space ranks as the cornerstone for growth in the consumer cloud services market. From private, public, hybrid, industrial to consumer, the cloud has taken various forms since its emergence over a decade ago. Consumer cloud is the newest manifestation of the cloud in response to the proliferation of consumer computing technologies and the resulting rise in electronically generated and stored information.

Smartphones and mobile Internet have emerged as gateways for consumer cloud services such as storage. Internet enabled smartphones have generated massive volumes of personal digital data. Modern smartphones with faster processing chips are capable of generating and storing 10 times more information than the most powerful PC invented a decade ago. IT which until now was exclusively the domain of corporates, enterprises and professionals, is now changing with consumers taking on the role of IT management. Digital lifestyles have forced consumers to take on technology which until now was exclusively used in the corporate world. The growing prominence of smart households and the ensuing rise of smart networked, wired homes and resulting complexity of home area networks (HAN) have pushed up demand for consumer IT technologies.

Consumer cloud computing allows consumers to store, organize, manage and retrieve documents, files, music, and videos and run software applications directly on a vendor’s network. These services reduce the cost of managing personal IT. Some of the benefits of cloud services especially storage include easy data backup in the cloud and virtually zero risk of data loss due to hardware failure, easy scalability of storage space as per need at no additional cost. The market stands to benefit from the development of consumer-grade cloud computing apps supported by the robust penetration of BYOD (bring your own device) and the ensuing trend of adapting consumer apps for business use. Other major forces driving growth in the market include the rise of social media platforms, changing consumer mobile usage habits, and the resulting increase in digital content distribution and consumption.

As stated by the new market research report on Consumer Cloud Services, the United States represents the largest regional market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 30.2% over the analysis period. The growth in the region is led by continuous development of Internet infrastructure vital for successful commercialization of low latency cloud services; growing base of smartphone subscribers; rapid proliferation of mobile Internet supported by falling tariff rates; digitalizing lifestyles of the expanding base of middle class population and the resulting increase in smart homes/households with home networking solutions that require more professional management solutions beyond traditional hard disks for saving, exchanging and managing data.

Major players in the market include Amazon.com, Inc., Apple, Inc., Carbonite, Inc., Dropbox, Inc. Evernote Corp. Google, Inc. IDrive Inc., and Microsoft Corporation, among others. 

The research report titled “Consumer Cloud Services: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections for all major geographic markets such as the U.S., Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. The report also analyzes the market by following segments – Gaming, Music (paid music only), Mobile Applications, VoIP, and Others (Includes E-mail services, Storage/ Backup services, and Social Networking services. Social Networking services excludes Social Gaming).

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