Consumer cloud storage services market to grow exponentially through 2025
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Consumer cloud storage services market to grow exponentially through 2025

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.

 

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