Is data less secure in a laptop or in a cloud such as Google drive and One drive?

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Cloud storage is a flexible and scalable storage solution provided by Google, Microsoft etc. We can now store large amount of data without buying physical storage devices. There are at times, fees for the storage based on the storage space used. Prior to cloud storage, we used to store our data in laptop, hard drives or pen drives. We can store data locally with less vulnerability to online threats or thefts. However, the lifespan of physical devices are limited and we often end up moving data from one physical device to other. With cloud storage, we can store data without any fear of losing them in case of malfunction of the physical device. We can access the data from anywhere. However , there is a risk of online threats and lot depends on the provider for the security . Personally, I store data which are not sensitive on cloud and sensitive ones on physical devices. So, I am taking advantage of both worlds. I do find sensitive information needs less storage compared to other data. So, what’s your take - Is data less secure in a laptop or in a cloud such as Google drive and One drive?