Cloud Native Storage Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2028
The global cloud native storage market is projected to register a CAGR of 23.3% during the forecast period, reaching USD 45.8 billion by 2028 from an estimated USD 16.0 billion in 2023. Major factors to boost the market growth include increased data volumes across enterprises, ease of switching from on-premises to cloud native storage, and increased automation in application updates.
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By offering, services segment to register for the highest CAGR during the forecast period.
The services segment of the cloud native storage market is growing rapidly. Services offer the underlying infrastructure, expertise, and support services to help organizations effectively leverage cloud-native storage technologies in the market. Cloud native storage services help ensure the security and compliance of data stored in cloud native solutions. They offer encryption, access control, and compliance monitoring tools to meet regulatory requirements.
By application, backup and recovery to register for the highest market size during the forecast period.
Backup and recovery applications are designed to protect data from loss, corruption, or accidental deletion. They create copies of data at specific points in time, ensuring that a recent and consistent version of the data is always available for recovery. Furthermore, backup and recovery applications are essential to a robust data management strategy for cloud-native storage solutions. They help organizations protect their data, ensure data availability, and provide a safety net in case of data loss or disasters.
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Unique Features in the Cloud Native Storage Market
With storage options optimised for the dynamic and transient nature of container environments, Cloud Native Storage solutions are made expressly to support microservices architectures and containerised applications.
In order to meet the dynamic storage needs of cloud-native applications, cloud native storage solutions provide scalability and elasticity. This allows for easy scaling up or down based on workload requirements without compromising the performance of the application.
Applications can access and store data consistently independent of the underlying infrastructure or deployment type thanks to cloud native storage solutions, which enable data persistence across multi-cloud and hybrid cloud environments.
With the help of cloud native storage solutions, enterprises can safeguard and manage data across dispersed cloud environments thanks to advanced data management features like data replication, snapshotting, backup, and disaster recovery.
Kubernetes and other container orchestration platforms are easily integrated with Cloud Native Storage solutions, allowing automated provisioning, administration, and scaling of storage resources for containerised applications.
Major Highlights of the Cloud Native Storage Market
The market for cloud native storage is defined by innovation and ecosystem growth, with suppliers working with cloud providers, storage vendors, and open-source communities to drive innovation and meet changing consumer needs. suppliers also regularly improve their services.
The need for Cloud Native Storage solutions, which provide high availability and reliability persistent storage capabilities, is being driven by the growing adoption of persistent storage solutions by organisations for stateful applications in containerised environments.
In order to protect sensitive data and guarantee regulatory compliance in cloud-native environments, cloud native storage solutions prioritise security and compliance. They do this by providing built-in data encryption, access controls, and compliance features.
Cloud Native Storage solutions use methods like data deduplication, tiering, and caching to maximise resource utilisation and reduce latency while focusing on optimising storage performance and efficiency for containerised applications.
Cloud native storage solutions enable businesses to successfully secure and manage data in cloud-native environments by offering comprehensive data management features including data replication, snapshotting, backup, and disaster recovery.
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Top Companies in the Cloud Native Storage Market
Some leading players in the cloud native storage market include Microsoft (US), IBM (US), AWS (US), Google (US), Alibaba Cloud (China), Hewlett Packard Enterprise (US), Dell Technologies (US), NetApp (US), Pure Storage (US), SUSE (Germany), VMWare (US), Oracle (US), Huawei (China), Citrix (US), Tencent Cloud (China), Scality (US), Splunk (US), Linbit (US), and Rackspace (US). These players have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to expand their presence in the cloud native storage market.
In the cloud native storage market, Google offers cloud storage products, such as Cloud Storage, a globally unified, scalable, and durable object storage solution; Local SSD, local SSD storage for Virtual Machine (VM) instances; Persistent Disk, high-performance block storage for VM instances; and Filestore, a fully managed file storage. Its cloud storage products enable organizations to store and access data from the Google Cloud at curated rates. The company is in the US, the UK, and the Rest of the World (RoW). Google caters to a large customer base spread across the globe through a global network of service providers, distributors, and cloud resellers. Google has increasingly invested in security, infrastructure, analytics, data management, and AI over the past years. The company is an established player and a globally recognized vendor for offering cloud storage solutions to leading enterprises across the globe. The company enhances its offerings with features, including modern development environments, data migration, and ML tools to provide enterprise-ready cloud services.
Microsoft
Microsoft is a prominent player in the cloud native storage market. The company concentrates on innovations, solution integrations, and technology partnerships to maintain its leadership position in the global competitive market. The company delivers a delightful experience to its customers and partners using various products, services, and support offerings. The company offers a variety of advanced solutions for object, file, and block storage, along with offering NOSQL cloud storage offerings for storing structured data. It follows the strategy of developing a complete portfolio by conducting R&D at a global level.
IBM
IBM has long been a leader in the cloud market. To cater to the cloud native storage market, the company offers products, including IBM Cloud Object Storage and Spectrum Fusion HCI. The IBM Cloud Object Storage is cost-effective and scalable cloud storage for unstructured data. It supports exponential data growth for their cloud-native workloads with cost optimization, robust data security, and data governance with ease of use. Its built-in data lifecycle operations make observing and managing critical workloads easy. Moreover, the company offers cloud native storage software and solutions through its subsidiary, Red Hat. Red Hat is one of the top players in the cloud native storage market. The company provides an OpenShift Container Platform that supports important features such as all basic storage classes, S3-compatible object storage, data replication, and disaster recovery capabilities, allowing application data to be placed across different availability zones. The company offers its solutions to major banking, insurance, legal, and government businesses.
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