Published by Wanda Rich
Posted on March 23, 2025
Growing Adoption of Bring Your Device Policy in Corporate World Making Personal Cloud Solutions All the More Important, Fact.MR Report
The global Personal Cloud Marketis projected to reach a value of US$ 283.98 billion by the end of 2034, up from US$ 43.63 billion in 2024, according to an updated Fact.MR industry analysis. The growing popularity of the 'bring your device (BYOD)' policy across organizations is one of the key trends driving market growth.
BYOD is becoming more popular in the IT industry as a way for employees to access secure data at work. The market for personal cloud is being driven by the increasing use of smart devices such as tablets, smartphones, and the Internet of Things (IoT). Due to the massive volumes of data they are producing including documents, videos, photos, application data, and many other types these are helping expand the market.
The requirement for personal cloud services is rising in enterprises in comparison with the consumer segment. Enterprises require scalable, secure storage and sharing solutions because they manage large volumes of sensitive data, complex procedures, and teamwork-based initiatives.
Over the next decade, the North American region is projected to lead with a significant revenue share. Market expansion in the region is attributed to the expansion of leading technology firms in the United States as well as the growing uptake of cloud services by different companies in the country's personal online cloud storage space.
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Leading Players Driving Innovation in the Personal Cloud Market:
The Key Players in the Infant Personal Cloud Industry include Amazon Web Services Inc.; Apple Inc.; Box Inc.; Microsoft Corporation; Dropbox Inc.; Google; Mozy Inc.; SpiderOak; Seagate; Egnyte Inc.; Sugarsync; ElephantDrive; Western Digital; D-Link Corporation; Buffalo Technology; ASUS Cloud; Ubuntu One; Hivelocity; CME Group; Hewlett Packard Enterprise; Vultr; Wisekey International Holding SA.
Personal Cloud Industry News & Trends:
A significant turning point in the companies' revolutionary collaboration was reached in June 2024 when CME Group and Google Cloud announced intentions of building a new private Google Cloud region and co-location facility in Aurora, Illinois.
The new VMware-powered private cloud product from Hivelocity, a pioneer in colocation, private cloud, and bare metal hosting solutions that Colohouse just acquired, was released in June 2024. This new service will provide fully integrated backup, restore, and disaster recovery (DR) services and capabilities using the latest versions of the VMware Cloud Foundation (VCF), Cloud Director, and NSX architectures.
The world's largest privately held cloud computing platform, Vultr, announced the release of Vultr Private Cloud and Vultr Sovereign Cloud in April 2024.
As a result of their growing partnership, Microsoft and the London Internet Exchange (LINX) began offering the Microsoft Azure Peering Service (MAPS) in Northern Virginia (NoVA) in January 2024. This will allow enterprise clients to access Microsoft's cloud services privately.
As a new complement to the WISeID platform for digital identification and cybersecurity services, Wisekey International Holding SA, a prominent cybersecurity and IoT company, introduced its WISeID Cloud Storage service in June 2021. Users can maintain secure file storage in the cloud on servers protected by Swiss technology from WISeKey thanks to the WISeID Cloud Storage service.
A multi-year strategic partnership to jointly create next-generation travel and hospitality goods and services was announced in September 2021 by Microsoft and international travel technology company OYO. Microsoft Azure will be used by OYO as a major enabler to propel cloud-based innovations and transform the travel and hospitality IT sector.
Key Takeaways from Personal Cloud Market Study:
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“Companies are focusing on offering advanced encryption, multi-factor authentication, and compliance with data protection requirements to boost consumer confidence as data security becomes more crucial. These measures are benefitting personal cloud service providers,” says Fact.MR analyst.
Market Development:
Companies involved in information technology have started to integrate AI into various devices, software, and many others. To increase profit margins and attract people, key players in the personal cloud market are integrating AI into the personal cloud.
In June 2024, Hewlett Packard Enterprise (HPE) unveiled a comprehensive range of generative AI solutions, co-developed and co-branded with NVIDIA, the leader in AI, which includes the ground-breaking HPE Private Cloud AI offering.
More Valuable Insightson Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the personal cloud market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on cloud type (online cloud, NAS cloud, server cloud, home-made cloud, on-premise cloud), revenue (direct revenue source, indirect revenue source), hosting type (service provider hosting, user hosting), and user (consumers, enterprises), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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