Consumer Cloud Storage Services Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Consumer cloud storage services allow the users to store, edit, download, and share their media content such as documents, images, videos, and other files on the cloud. Consumer cloud storage services facilitate working with personal devices such as smartphones, notebooks, tablets, and others. Advancements in mobile communication technologies and continuously growing demand for virtual data storage due to a continuous increase in the number of mobile workforces are significantly contributing to the growth of the consumer cloud storage services market.

MARKET SCOPE

The "Global Consumer Cloud Storage Services Market Analysis to 2031" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the consumer cloud storage services market with detailed market segmentation by storage, user age, and geography. The report provides key statistics on the market status of the leading consumer cloud storage services market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on storage, the global consumer cloud storage services market is segmented into below 1 TB, 1 TB-10 TB, and above 10 TB.
  
•   On the basis of user age, the market is segmented into below 18 years, 18-40 years, and above 40 years.
  

MARKET DYNAMICS

Drivers:

•   Increasing the number of mobile devices across the globe and growing penetration with the Internet are major factors driving the consumer cloud storage services market growth.
  
•   The growing need for technologically advanced storage solutions and a high rate of adoption of cloud storage among the consumer is expected to influence the consumer cloud storage services market growth during the forecast period.
  

Restraints:

•   The lack of network bandwidth and data security issues may hamper the growth of the market.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The consumer cloud storage services market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the consumer cloud storage services market in these regions.

IMPACT OF COVID-19 ON CONSUMER CLOUD STORAGE SERVICES MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the consumer cloud storage services market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from consumer cloud storage services market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the consumer cloud storage services market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Amazon.com, Inc.
  
•   Apple Inc.
  
•   Box
  
•   Dropbox
  
•   Google LLC
  
•   MediaFire
  
•   Microsoft
  
•   Nextcloud GmbH
  
•   pCloud AG
  
•   Sync.com Inc.
  
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Consumer Cloud Storage Services Report Scope