Rise of On-Demand Consumerism in the Entertainment and Data Storage Space Drives Demand for Consumer Cloud Services
Published: July 2017
- Code: MCP-7654
- Pages: 186
- Tables: 44
- Companies: 44
CONSUMER CLOUD SERVICES: A RESEARCH BRIEF
The global market for Consumer Cloud Services is forecast to reach US$260.5 billion by 2024, fueled by the rise of on-demand consumerism in the entertainment and data storage space and the resulting rise of streaming music, videos, games and cloud storage services. High speed broadband Internet has enabled media content to stream almost instantaneously. Digital technologies powered by the cloud and the Internet are liberating consumers and driving the on-demand era by offering convenience, speed and instant gratification. Growing consumer demand for higher levels of customization of products and services, and rising preference for prompt and rapid delivery of services are driving demand for cloud services such as streaming music, games, and videos. The United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 37.8% over the analysis period led by factors such as development of the Internet and telecom infrastructure; digitalizing lifestyles of the middle class population and a parallel increase in appetite for digital forms of entertainment; growing cloud readiness of Asian economies; rising smartphone penetration and mobile internet subscriptions largely due to falling device costs and service tariffs; and growing consumer reliance on cloud storage for managing the data explosion triggered by consumer IoT.
- Rising Venture Capital Investments in the On-Demand Economy Bodes Well for the Commercial Rise of Consumer Cloud Services
- Digitalization of the US$1.9 Trillion Media & Entertainment Industry Expands the Playing Field for Cloud Based Entertainment Technologies & Solutions
- Market Optimally Poised to Benefit From the Continuously Growing Gaming Community & All-Round Innovations that Make Cloud Gaming Feel Like Local Console Gaming
- With the Cloud Doing the Heavy Lifting of Game Processing, The Dominance of Gamers on the Humble PCs Bodes Well for the Future Growth of Cloud Gaming
- Evolving Concept of Smart Connected Homes to Benefit Demand for Consumer Cloud Storage Services
Summary of Findings
- Market Estimates and Forecasts for 2016-2024
Timeline for Analysis
- US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World
Geographic Markets Analyzed
- Cloud Gaming, Cloud Music, Cloud Videos, and Cloud Storage
Market Segmentation & Classification
- Amazon.com, Inc.
- Apple, Inc.
- Carbonite, Inc.
- Dropbox, Inc.
- GameFly, Inc.
KEY RESEARCH DELIVERABLES
- Review of Industry/Market Structure
- Analysis of Trends & Drivers
- Insights on Macro Market Scenarios
- Market SWOT Analysis
- Latent Demand Forecasts & Projections
- Comprehensive Geographic Market Analysis
- Presentation Ready Facts & Statistical Data Findings
- Coverage of Major/Niche Players, Market Shares & Competition
- Coverage of major Company/Technology/Product/Financial Stories
- Extensive Product/Service/End-Use/Technology Coverage Where Applicable