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Personal Cloud Market: Future Forecast Assessed on the basis of how the Market is Predicted to Grow

A personal cloud is a form of cloud storage for home users to store personalized data such as photos, videos, documents; it can also be used to stream multimedia. It is similar to a private cloud, but provides enhanced control. Personal clouds are also referred to as personal cloud storage, mobile cloud storage, and pocket cloud storage. Personal cloud works on the ‘pay-as-you-go’ pricing model; therefore, as long the user pays, they can use the service. It provides various advantages such as access to personal data to through the Internet and increased mobility; the user can connect to the cloud through a computer, a laptop or handheld devices such as tablets or cell phones. The user does not require hardware for data storage, since it is managed by the cloud service provider.
 
The market is segmented on the basis of deployment into,
  • Individual
  • Small business
  • Large organization

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Demand for efficient storage, increased frequency of data access, data sharing, usage of portable devices such as tablets and multimedia phones, cost effective storage, and safety against data loss are expected to drive the market over the next few years. Low degree of awareness, credible security concerns, and lack of funds are expected to restrain market growth. Delivering affordable and safe data storage is a challenge for cloud service providers.
 
 
Some of the major players include Amazon (Cloud Drive), Apple (iCloud), Box.com, DropBox, Google Inc (Google Drive), MediaFire, Mega, Microsoft (SkyDrive), SpiderOak, Ubuntu One, F-Secure, AOL, BlurTIe, Mobiso, Simyo, and Unyk among others. Despite the existence of major players in this industry, many new entrants are finding attractive opportunities for entering the market.
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