Global private cloud server industry is expected to grow over the next eight years at a significant rate owing to increasing investments for the technological advancements. Rising demand for storing and sharing personal or professional data is expected to augment the market over the forecast period. Demand for cloud computing is projected to increase due to technology awareness among consumers primarily in Asia Pacific.
Cloud computing model consists of the private cloud that pertains a secure and distinct cloud-based environment in which only particular members can operate. Unlike another cloud service, a private cloud provides computing power as a service under a virtualized environment by the help of an underlying pool of computer resources.
The product provides continued access to clients and keeps their documents secure which encourages organizations to incorporate these services into their business. The product has broad application scope in small and medium enterprises and is used by major companies such as Amazon, Microsoft, etc. Increasing demand for personal cloud solutions and services to synchronize is expected to drive demand over the forecast period. Improved reliability and more control over a wide range of data are anticipated to fuel market growth.
It offers storage space which can be accessed at user’s home and data center of the service provider. The product helps users to view these documents using internet connected devices such as laptops, smartphones, and tablets. The extensive use of camera-equipped devices such as smartphones and tablets has created high demand for secured storage of the digital content.
Issues regarding safety and security are expected to hamper the market growth over the forecast period. With the arrival of the different type of potential viruses coupled with increased number of hackers is anticipated to hinder the industry exponentially Lack of standardization coupled with the rise in system vulnerabilities such as server crash is expected to considerably dampen this challenge. Scarce availability of private cloud poor performance is anticipated to hinder the growth.
Technological advancements to address potential security threats have provided a boost to the private cloud market. Installation of software as a service (SaaS) is expected to fuel the growth of industry. Use of encrypted files in the private cloud has helped in addressing the cloud related concern predominantly.
By use, the market is segmented into individual, small business, and large organizations. Individual users segment is expected to dominate the market over the forecast period in the course of high-security concerns coupled with growing individual server demand.
By the host, the market is segmented into host type including user host and provider host. The demand for user hosted cloud storage is expected to be high due to easy availability and cost effectiveness of cloud solutions from service providers.
The rising demand for high-frequency data access and data sharing is anticipated to fuel the industry growth in the course of cost effectiveness and efficient storage and safety against data loss which can easily hamper the growth of the market. Bring-your-own-device (BYOD) trend is gaining acceptance which benefits the enterprises on account of improved productivity, flexibility and reduction of the infrastructure costs. However, inadequate security is one of the major concerns of BYOD services. Thus, centralization of security management will boost the private cloud server in an easy way to omit off adhere to BYOD security policies and malware attacks.
By geography, the market is divided into North America, Europe, Asia Pacific, Central & South America and the Middle East and Africa. North America is expected to lead the market share in the course of high industrialization coupled with an increase in secure server demand in the region. Asia-Pacific is expected to experience a rise in the sales over the next eight years owing to increasing awareness among developing economies such as India, China and Japan will drive the market demand in this region. Untapped potential in emerging economies of Latin America and Middle East such as Brazil, Argentina, UAE and Saudi Arabia are expected to provide lucrative opportunities for industry participants over the next eight years.
Few of the major players dominating the market are Amazon, Microsoft Corp., Google, Dropbox Inc., Seagate, Egnyte, Buffalo Technology, SpiderOak, MEGA Ltd., D-Link Corporation, ElephantDrive, Mozy Inc., POLKAST LLC, Dell, Just Cloud and Sugarsync.
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