Fatpos Global has released a report titled “Consumer Cloud Storage Services Market - Analysis of Market Size, Share & Trends for 2021 – 2022 and Forecasts to 2031” which is anticipated to reach USD 316.3 billion by 2031. According to a study by Fatpos Global, the market is anticipated to portray a CAGR of 22.5% between 2021 and 2031. According to the report, advancements in next generation communication and cloud storage technologies will drive the market of Consumer Cloud Storage Services. Moreover, noteworthy deployment of smartphones and rising internet accessibility initiatives in developing nations will further boost the market growth during the forecast period.

The market report on Consumer Cloud Storage Services Market includes in-depth insights as:

• The estimated value of the market was USD 41.57 billion in the year 2021.
• Consumer Cloud Storage Services in North America held the largest market share in the year 2021.
• Consumer Cloud Storage Services market is classified on the basis of Storage Tier into  50 GB-999 GB, 1 TB - 9.99 TB, and >= 10 TB.
• Consumer Cloud Storage Services market is fragmented on the basis of User Age into <18 Years, 18-40 Years, and >40 Years.
• Based on application, the Consumer Cloud Storage Services market is classified into Adults and Teenagers.
• Key players are likely to focus on product innovations and expansion through merger to retain their positions in developed markets.

“Major developing economies are still going through digital transformation and there remains immense scope for data storage and security services market. During Covid-19, many countries have witnessed a sudden rise in internet users and smartphone users which has created a huge demand for cloud storage services. Advancements in technologies and increasing work from trends have further boosted the cloud environments.”, said a lead analyst at Fatpos Global.

Consumer Cloud storage service is a service model wherein data is stored on remote storage and can be accessed through the internet. It allows users to store, download, edit and share their media like photos, videos, etc. or documents, as and when required. Consumers can access their data on devices like laptops, computers, smartphones, and tablets. A fixed price is charged for the service provided by the cloud storage providers.

Consumer Cloud Storage Services market is classified on the basis of storage Tier into  50 GB-999 GB, 1 TB - 9.99 TB, and >= 10 TB. During the forecast period, the 50-999 GB segment is expected to grow with the highest CAGR. Rapid generation of user data after the advent of social media platforms like Facebook, Youtube, Instagram, etc. has induced the demand for cloud storage among consumers. Ease of accessibility and affordable price range are also the key factors driving the growth of this segment.

Key Players in the Market

Some of the key players operating in the Consumer Cloud Storage Services Market are IBM Corporation, Oracle Corporation, Microsoft Corporation, Google (Alphabet Inc.), Apple Inc., Dropbox Inc., Sync.com Inc., Amazon .com Inc., pCloud AG, Hubic (OVH) Mediafire, and Other Prominent Players.

Get Valuable Insights into Consumer Cloud Storage Services Market

In the new report, Fatpos Global thrives to present an unbiased analysis of the Consumer Cloud Storage Services Market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2031. The study includes compelling insights into growth that is witnessed in the market. Consumer Cloud Storage Services market is classified on the basis of storage Tier into  50 GB-999 GB, 1 TB - 9.99 TB, and >= 10 TB. Consumer Cloud Storage Services market is fragmented on the basis of user age into <18 Years, 18-40 Years, and >40 Years. Based on application, Consumer Cloud Storage Services market is classified into Adults and Teenagers. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East and Africa.

About Fatpos Global

Fatpos Global is a leading management consulting, advisory, and market research organization that serves its clients globally through its team of experts and industry veterans that have years of expertise for management consulting, advisory, and market research analysis. The organization functions across business consulting, strategy consulting, market research, operations consulting, financial advisory, human resources, risk & compliance, environmental consulting, software consulting, and sales consulting amongst others, and aims to aid businesses with bold decisions that help them embrace change for their sustainable growth.