Vendors such as Dropbox, Google, and Apple will see cash rolling in a BYOD increases personal cloud storage adoption amongst consumers
The personal cloud market, made up of services from companies such as Dropbox, Google, and Apple, is set to make revenue of almost $90 billion (£59bn) by 2020, according to latest research.
The forecast, from analyst house Research and Markets, highlights the increasing pace of consumer adoption of cloud storage platforms with the market ready to rocket at an annual growth of 33 percent every year until 2020.
Research and Markets highlighted the growth of BYOD as one reason for the revenue growth rate of personal cloud could may well hit the $89.9 billion figure by 2020.
“Bring-Your-Own-Device (BYOD) is gaining increasing acceptance, particularly among small and medium enterprises due to benefits of improved productivity, work flexibility and reduced infrastructure costs,” said the company.
“Personal cloud services would facilitate file storage and sharing among the employees and enterprises who have adopted the BYOD trend. However, the issues of privacy and security of stored data would hinder the market growth.”
Prominent personal storage companies have recently made more drives to entice customers to their platforms.
In October, Dropbox found a new way to slurp up users by partnering with Adobe on a PDF tool that claims to make it easier to open PDFs straight from Dropbox.
Users are now able to add their Dropbox account from the latest versions of Adobe Acrobat and Acrobat Reader desktop apps, meaning they can open PDFs stored in Dropbox right from within the app.
In the coming months, the feature also extends to being able to annotate and comment on PDFs stored in Dropbox from iPhones and iPads, using Acrobat Reader mobile. This will be due on Android in 2016.
Also in October, Box made it easier to manage and protect data stored in its platform with new governance and security features, as well the ability for customers to use their own cloud storage and network.
Whitney Bouck, Box’s general manager for enterprise, said the added flexibility would allow customers to exert greater control over their content, how it’s delivered and how it’s secured.
“We have always believed in giving you as much choice and control in Box,” Whitney Bouck, Box general manager for enterprise said at BoxWorks 2015. “Choice of cloud infrastructure behind Box is the next thing. We know you make choices for other applications that aren’t in Box’s infrastructure. We want to see the same thing [on Box].”