Consumer Cloud Subscription Market Report: Top Companies, Trends and Future Prospects Details for Business Development by 2023-2028

PRESS RELEASE

Published February 7, 2023

IMARC Group’s latest report, titled “Consumer Cloud Subscription Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global consumer cloud subscription market is expected to exhibit a CAGR of 7.1% during 2023-2028.

Consumer cloud subscription refers to the consumer's right to access and use cloud services on a subscription basis. Cloud services offer complete access to documents, photos, music, and videos. The user can get all of it wherever they want and on any compatible device, as long as the user has an internet connection. It uses cloud storage for personal and consumer-oriented purposes, such as storing files, images, or music on a remote server. There are different types of cloud storage services. However, the most common is personal private cloud storage service, where users pay for their own space to store data in the cloud. Cloud subscription finds extensive applications across sectors, including IT and telecom, healthcare, manufacturing, BFSI, retail, media, and entertainment.

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Consumer Cloud Subscription Market Demand and Growth:

The global market is majorly driven by increasing research and development activities for improvements in the information technology (IT) infrastructure. In line with this, the rising integration of emerging technologies such as Artificial Intelligence and machine learning is significantly contributing to the market growth. These technologies enable cloud growth by empowering companies to capture AI capabilities. Furthermore, the emerging trend of remote or hybrid work mode is positively influencing the market growth across the globe. Apart from this, rapid digitization is compelling companies to modernize their application and infrastructure to drive cost efficiency and business agility. By adopting cloud services, organizations can support their critical business activities effectively, move business workloads to a cloud platform, and avoid network latency. This, in turn, is catalyzing the growth of the market. Moreover, the growing penetration of smartphones and other connected devices, such as IoT Connected Devices for storage purposes, is creating a positive outlook for the market. Besides, an escalating volume of data uploaded on the servers and the presence of next-generation cloud technologies are strengthening the market. Additionally, the widespread deployment of the 5G network and the development of distributed storage arrays are offering numerous opportunities for market expansion.

Competitive Landscape with Keyplayers:

Amazon.com Inc
Apple Inc
Box Inc
Carbonite Inc. (OpenText Corporation)
Dropbox
Google LLC (Alphabet Inc.)
Mediafire
Microsoft Corporation
Nextcloud
pCloud AG
SoundCloud
Sync.com Inc

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Key Market Segmentation:

Breakup by Type:

Direct
Indirect

Breakup by Storage Subscription:

50 GB-999 GB
1 TB - 9.99 TB
More than 10 TB

Breakup by Platform:

Android
IOS
OS X
Windows

Breakup by Application:

Personal Use
Enterprise Use

Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

Market Performance (2017-2022)
Market Outlook (2023-2028)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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