Wednesday, June 10, 2015

Parks Associates forecasts Japan and South Korea as key markets for consumer cloud storage

Firm’s NUMBERS™ service announces global forecasts for cloud storage adoption and revenues

New research from Parks Associates estimates the fastest-growing markets for consumer cloud storage will be Japan and South Korea, with consumer spending growing at a CAGR of over 33% between 2014 and 2019. The U.S. will have nearly 50 million households using cloud storage at the end of 2015. This strong worldwide growth comes as CE device manufacturers and technology providers increasingly leverage cloud storage as a value-added feature to promote their offerings.

“In South Korea, Hong Kong, Netherlands, and Switzerland, residential broadband household penetration exceeds 90%,” said Tejas Mehta, Research Analyst, Parks Associates. “Increasing adoption of connected devices is changing consumer behavior and their relationship to digital content, creating new needs for cloud services in order to share and secure both personal and paid media.”

Parks Associates today released Consumer Cloud Storage NUMBERS™ and Core NUMBERS™ as part of its annual consumer forecasting service that covers key smart home and entertainment product categories for the connected consumer.

Consumer Cloud Storage NUMBERS™ provides global forecasts as well as forecasts for countries including the United States, Canada, Belgium, France, Germany, Japan, South Korea, and the United Kingdom and for regions including North America, Western Europe, and Asia-Pacific. The following categories and metrics are forecasted by year from 2012- 2019: 

  • Cloud Storage Accounts per Household and by Usage
  • Monthly Consumer Spending by Account Type
  • Cloud Storage Household Penetration
  • Residential Broadband and Wireless Households
  • Net New, Year-on-Year Growth, and Five-Year CAGR

“New consumer behaviors such as increasing consumption of digital video are fueling the need for greater data storage, which in turn is driving this growth in cloud storage accounts,” Mehta said. “Consumer Cloud Storage NUMBERS™ provides a granular view of the country-level differences in adoption and usage of consumer cloud storage.”

For more information about Parks Associates NUMBERS™ Service or to speak with an analyst, contact Holly Sprague at hsprague@gmail.comor 720-987-6614.


Parks Associates NUMBERS™ extends forecast information and knowledge beyond toplines to feature detailed views of numbers and graphs. These tools provide details and assumptions behind Parks Associates’ forecasts, including crosstabs, charts, and data compilations. This service enables product managers and strategy and financial planners the ability to merge their own forecasts or compare their forecasts for any given category and across nations.

About Parks Associates: Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.

The company's expertise includes the Internet of Things (IoT), digital media and platforms, entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, support services, consumer apps, advanced advertising, consumer electronics, energy management, and home control systems and security.

Each year, Parks Associates hosts industry webinars, the CONNECTIONS™ Conference Series, Smart Energy Summit: Engaging the Consumer, Connected Health Summit: Engaging Consumers, and Future of Video: OTT, Pay TV, and Digital Media.

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