The global market for consumer cloud storage services is expected to grow at an exponential rate through 2025, according to new data from Persistence Market Research (http://tinyurl.com/yc8todhw).
The global market is estimated to reach a valuation of more than $2.8 billion by the end of the assessment year from a value of $873 million in 2017 and is poised to register a CAGR [compound annual growth rate] of 15.9% during the period of forecast, 2017-2025, adds the research group. 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 $1.6 million. 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 $1.2 million by the end of the year of assessment.