Asia Pacific to Project High Growth Potential in the Global Cloud Storage Services Market in
the Coming Years
Persistence Market Research has analyzed several aspects of the consumer cloud storage services
market from a global standpoint and has skilfully presented these in its new research publication
titled “Consumer Cloud Storage Services Market: Global Industry Analysis (2012-2016) and
Forecast (2017-2025)”. The extensive consumer cloud storage services market research report
covers various trends, opportunities, drivers and restraints influencing the growth of the global
market along with regional analysis, competitive scenario and revenue forecasts. This analysis
focuses on each segment and sub-segment of the global market based on which analysts have given
their opinions regarding various market scenarios.
Global Consumer Cloud Storage Services Market: Forecast Analysis
The global market for consumer cloud storage services is expected to grow at an exponential rate
during the period of forecast. As per the research study, the global market is estimated to reach a
valuation of more than US$ 2.8 Bn by the end of the assessment year from a value of US$ 873 Mn
in 2017 and is poised to register a CAGR of 15.9% during the period of forecast, 2017-2025.
Global Consumer Cloud Storage Services Market: Key Segmental Forecasts
The global consumer cloud storage services market is segmented by user age, storage tier and
region.
By storage tier, the 50 GB – 999 GB segment is the largest and is likely to dominate the global
market by the end of 2025 with an estimated market value above US$ 1,600 Mn. It is also the
fastest growing segment.
By user age, the 18-40 segment leads the market with a high market valuation and is poised to
register a meteoric CAGR of 17.4% during the forecast period.
By region, Asia Pacific (APAC) is the fastest growing region. The consumer cloud storage services
market in Asia Pacific is projected to reflect a high CAGR of 18.6% during the forecast period.
However, the consumer cloud storage services market in North America is estimated to reach a
higher valuation of more than US$ 1,200 Mn by the end of the year of assessment.
Global Consumer Cloud Storage Services Market: Dynamics Influencing Growth
Several factors are expected to drive revenue growth of the global consumer cloud storage services
market. Factors such as growth in HD videos, increasing use of social media, increasing internet
penetration, higher disposable income coupled with increasing smartphone usage, increasing focus
on enterprise customers to sustain personal cloud business, prevalence of multiple devices per user,
affordability of cloud storage services, increasing demand for cloud storage from gamers, BYOD
assisting cloud adoption, increasing usage of cloud as a secure backup and volatility of external
storage devices are boosting the growth of the global consumer cloud storage services market. But
the market is not devoid of challenges. Growth of subscription services, data privacy concerns, lack
of awareness, free storage tiers, high penetration of external storage devices, high prices and low
internet speeds are posing restraints to the growth of the global market for consumer cloud storage
services.
Global Consumer Cloud Storage Services Market: Competitive Assessment