PUBLISHER: The Business Research Company | PRODUCT CODE: 1464066
PUBLISHER: The Business Research Company | PRODUCT CODE: 1464066
Cloud-native storage encompasses storage solutions specifically tailored for operation within cloud computing environments, capitalizing on the scalability, flexibility, and distributed architecture of the cloud. These storage systems are optimized for deployment in cloud-native architectures, which often involve microservices, containers, and orchestration platforms.
The primary components of cloud-native storage include solutions and services. A solution refers to a comprehensive approach or suite of technologies, tools, and practices developed to address storage requirements and challenges inherent to cloud-native environments. These solutions support various deployment models including public cloud, private cloud, and hybrid cloud, catering to diverse applications such as backup and recovery, content delivery, big data and analytics, data archiving, and database storage management. End-users span across industries including banking, financial services, insurance, information technology, telecommunications, healthcare, retail, manufacturing, government, energy, utilities, media, entertainment, and others.
The cloud native storage market research report is one of a series of new reports from The Business Research Company that provides cloud native storage market statistics, including cloud native storage industry global market size, regional shares, competitors with a cloud native storage market share, detailed cloud native storage market segments, market trends and opportunities, and any further data you may need to thrive in the cloud native storage industry. This cloud native storage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The cloud native storage market size has grown exponentially in recent years. It will grow from $19.78 billion in 2023 to $24.05 billion in 2024 at a compound annual growth rate (CAGR) of 21.6%. The historical growth can be attributed to several factors, including the proliferation of data leading to an explosion in data volumes, the rising trend of containerization, which fosters greater agility and efficiency in deploying storage solutions, increased cost efficiency associated with cloud-native storage, enhanced flexibility and scalability offered by cloud-native architectures, and the adoption of API-driven architectures enabling seamless integration and interoperability within cloud environments.
The cloud native storage market size is expected to see exponential growth in the next few years. It will grow to $51.85 billion in 2028 at a compound annual growth rate (CAGR) of 21.15%. The forecasted growth can be attributed to several factors, including the expansion of edge computing, the rising adoption of multi-cloud architectures, the growing emphasis on security and compliance requirements, and the increasing focus on performance optimization within cloud-native storage solutions. Major trends expected in the forecast period include the adoption of hybrid cloud solutions to leverage the benefits of both public and private cloud environments, increased uptake of cloud technologies to address evolving storage needs, the implementation of data management and orchestration tools for efficient storage management, the development of persistent storage solutions for stateful applications, and the emergence of security-driven storage solutions to safeguard sensitive data.
The expanding adoption of hybrid and multi-cloud strategies is poised to be a significant driver of growth within the cloud-native storage market in the foreseeable future. Hybrid and multi-cloud strategies entail leveraging multiple cloud services, including public and private clouds, from various providers to cater to diverse business requirements. The uptake of these strategies is fueled by the desire to streamline processes efficiently and address the evolving needs of businesses, organizations, and individuals. Cloud-native storage solutions play a pivotal role within hybrid and multi-cloud environments by furnishing organizations with the requisite flexibility, scalability, and resilience to effectively manage data across heterogeneous cloud landscapes. For instance, as per reports published by Cloudzero in December 2023, a notable majority of organizations are projected to adopt hybrid cloud setups in 2022, representing a 3% increase from the preceding year's figures. This underscores the accelerating adoption of hybrid and multi-cloud strategies, thereby propelling the expansion of the cloud-native storage market.
Prominent entities within the cloud-native storage market are channeling their efforts toward pioneering advancements, exemplified by initiatives such as SolarWinds Observability, a cutting-edge cloud-native Software-as-a-Service (SaaS) observability platform. This platform encompasses a suite of tools meticulously crafted to empower organizations in effectively monitoring and managing their IT infrastructure, applications, and services. For instance, in October 2022, SolarWinds Worldwide LLC introduced SolarWinds Observability, a revolutionary cloud-native SaaS platform designed to deliver unified and comprehensive visibility across modern, distributed, hybrid, and multi-cloud IT environments. By seamlessly integrating observability solutions spanning networks, infrastructure, systems, applications, databases, digital experiences, and log monitoring, this platform offers an end-to-end solution tailored to both private and public cloud deployments. Notably, it addresses the evolving landscape of cloud adoption, hybrid IT environments, and remote workforces by furnishing unparalleled visibility into the entire ecosystem spanning public and private clouds. SolarWinds Observability is engineered to cater to the diverse needs of IT Ops and DevOps teams, developers, cloud architects, and IT executives, thereby facilitating informed decision-making and enhanced operational efficiency across the organization's cloud infrastructure.
In May 2022, Broadcom Inc., a multinational corporation headquartered in the United States, completed the acquisition of VMware Inc. for $61 billion. This strategic move aimed to unite their engineering-driven, innovation-focused teams with the goal of establishing the foremost infrastructure technology provider globally. The overarching objective is to empower enterprise clients to develop and modernize their private and hybrid cloud environments effectively. VMware Inc., based in the United States, specializes in virtualization and cloud computing software solutions, including the provision of a Cloud Native Storage (CNS) solution.
Major companies operating in the cloud native storage market report are Microsoft Corporation, Dell Technologies Inc., Amazon Web Services Inc., International Business Machines Corporation, Google Cloud Platform, VMware Inc., NetApp Inc., Citrix Systems Inc., Nexenta Inc., Pure Storage Inc., Longhorn Inc., Scality Inc., DataCore Software Corp., StorCentric Inc., Zadara Storage Inc., Diamanti Inc., Rookout Inc., Kasten Inc., Tiger Technology Ltd., Robin.io Inc., MinIO Inc., WekaIO Inc., Quobyte Inc., Portworx Inc., OpenEBS Inc.
North America was the largest region in the cloud native storage market in 2023. The regions covered in the cloud native storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the cloud native storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The cloud-native storage market consists of revenues earned by entities by providing services such as object storage services, block storage services, file storage services, container storage interfaces, multi-cloud and hybrid cloud support, data management and automation, security, and compliance. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The cloud-native storage market consists of sales of distributed storage systems, monitoring tools, and management tools. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Cloud Native Storage Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cloud native storage market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cloud native storage ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cloud native storage market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.