Cloud Native Storage Market by Component (Solutions and Services), Deployment Mode (Public and Private), Organization Size, Vertical (BFSI, Retail & Consumer Goods, Telecommunications, IT & ITeS) and Region - Global Forecast to 2027

Cloud Native Storage Market by Component (Solutions and Services), Deployment Mode (Public and Private), Organization Size, Vertical (BFSI, Retail & Consumer Goods, Telecommunications, IT & ITeS) and Region - Global Forecast to 2027

The global cloud native storage market size to grow from USD 13.6 billion in 2022 to USD 38.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 23.1% during the forecast period. The market’s expansion is attributed to the widespread use of cloud native storage services brought on by virtual work and the rising amount of data use. Employees collaboration and connectivity are made possible by cloud native storage solution as businesses transition to remote working.

As per organization size, SMeS segment to grow at a the highest CAGR during the forecast period

SMeS are anticipated to develop at a highest CAGR during the forecast period, while the large enterprises sector is expected to hold a larger market share based on organization size. Therefore, the adoption of cloud native storage platforms is comparatively higher in large organizations than SMeS. There are many reasons for the higher adoption of cloud native storage among large enterprises, including the fact that they are more secure financially and can make significant investments in cutting-edge technology more readily than SMeS. The majority of operations can be automated for businesses that choose cloud native storage. The adoption of cloud native storage is being sped up by the bureaucratic and time-consuming operations that could take several weeks in a conventional arrangement.

As per regions, Asia Pacific (APAC) to grow at the highest CAGR during the forecast period

As per regions, the Asia Pacific is estimated to hold the highest Compound Annual Growth Rate (CAGR) of 28.7% in the Cloud Native Storage market. The rapid adoption of new technologies, along with expanding business requirements and the rise in the number of companies using Kubernetes and containers, are all contributing factors to APAC’s high growth rate. Further, in 2022, APAC’s Large Enterprises in this region hold the highest market share of USD 705 million. Moreover, increased adoption of advanced technology such as AI, IoT, ML, and others across organizations are creating need for advanced infrastructure at the organization level is also helping the market to grow. The rise of cloud usage in Asia Pacific if Bing driven by the global adoption of cloud native technologies like Kubernetes, but especially by the region’s quickly expanding Chinese technology sector. Nevertheless, the Asia Pacific cloud native storage market is just getting started. Due to growing organizational needs and rising adoption of office collaboration and file sharing solution, it is anticipated to expand dramatically over the next years across the majority of the region’s emerging nations.

As per component, services to grow at the highest CAGR during the forecast period

As per component, services is estimated to hold the highest Compound Annual Growth Rate (CAGR) of 24.3% in the Cloud Native Storage market. Services are crucial in the market for cloud native storage since they help customers both before and after the deployment of their cloud native storage solutions. For their clients, service providers assist a variety of phases, such as planning, creating, maintaining, and updating cloud native storage systems. The importance of cloud native storage includes services like incident response and recovery, consultation, deployment, support services, education services, residency services, training assistance, integration, and maintenance. The integration and deployment of cloud native storage solutions with present storage infrastructure is covered in the sector for integration and implementation services. Integrating and implementing cloud native storage solutions with existing systems requires optimizing and lowering storage system maintenance cost while minimising CAPEX and OPEX. These services, which focus on improving cloud native storage operations and performance, involve operational hazard identification, analysis, and formulation as well as management strategies and procedures.

Breakdown of primaries

In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the cloud native storage market.

By Company: Tier I: 32%, Tier II: 49%, and Tier III: 19%

By Designation: C-Level Executives: 33%, D-Level Executives: 22%, and Managers: 45%

By Region: APAC: 35%, Europe: 20%, North America: 40%, Rest of World: 5%

The report includes the study of key players offering cloud native storage Solutions. It profiles major vendors in the cloud native storage market. Some of the major cloud native storage market vendors are 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). Some others players of cloud native storage market are VMWare (US), Huawei (China), Citrix (US), Tencent Cloud (China), Scality (US), Splunk (US), Linbit (US), Rackspace (US), and Robin.Io (US).

Research Coverage

The market study covers the cloud native storage market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as components, deployment type, organization size, vertical, and region. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report

The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall cloud native storage market and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.