Global cloud Native applications Market 2023-2030

Global cloud Native applications Market 2023-2030

Global cloud native applications market is anticipated to grow at a considerable CAGR of 20.5% during the forecast period. Cloud native application development is gaining popularity due to its faster, more flexible, and cost-effective approach that aligns with changing market demands. The development process is agile, and microservices enable easy scaling up or down as per demand. Cloud apps can operate independently of cloud infrastructure and allocate resources based on their needs. Cloud native applications also provide a uniform experience across various types of clouds, allowing companies to maintain their brand consistency across multiple channels. Due to these advantages of cloud native applications, the market is growing, and new cloud native applications are being introduced into the market. Additionally, there is the Cloud Native Computing Foundation (CNCF), which is a complete open-source software organization dedicated to making cloud-native applications universal and sustainable. It presently manages almost 150,000 IT workers' contributions to over 100 projects and platforms. According to the CNCF’s 2019 Q4 report, there were 6.5 million cloud native developers globally, which was 1.8 million more than in the second quarter of 2019.

Segmental Outlook 

The global cloud native applications market is segmented by deployment type and industry vertical. Based on deployment type, the market is sub-segmented into private cloud, public cloud, and hybrid cloud. Based on industry vertical, the market is sub-segmented into IT and telecom, BFSI, retail and e-commerce, government, healthcare and life science, and travel and hospitality. Among these, the IT and Telecom sector is one of the biggest users of cloud-native applications because they rely heavily on technology to operate and provide services to their customers. Cloud computing is a natural ecosystem for speedier data processing; since customer-generated data in telecom is massive, telecom cloud enterprises can process data more quickly.

The Hybrid Cloud Segment Holds a Prominent Share in the Global Cloud Native Applications Market

Based on deployment type, the market is sub-segmented into private cloud, public cloud, and hybrid cloud. Among these, the hybrid cloud segment is expected to dominate the market due to its scalability and cost-effectiveness. It addresses business challenges that traditional IT infrastructure cannot handle and bridges the gap between IT and companies. It provides high-speed performance and high availability, allowing businesses to expand their applications and infrastructure as needed. Furthermore, it offers economies of scale and secures sensitive data while providing enterprises with alternative operational routes. This drives the demand for hybrid cloud.

Regional Outlook

The global cloud native applications market is segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the rest of the world (the Middle East and Africa and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among the regions, the North American region is expected to generate the highest market share. Additionally, the Asia-Pacific market is predicted to grow significantly owing to the increasing demand for advanced cloud solutions in several medium and large-scale industries.

The North American Region is Expected to Dominate the Global Cloud Native Applications Market

The North American cloud native application market is growing for several reasons. One major factor is the increasing adoption of cloud computing technology, which allows for greater scalability, flexibility, and cost-effectiveness in deploying and managing applications. Moreover, the financial industry has also been embracing cloud-native technology to improve their services and stay competitive. For instance, Capital One has adopted a cloud-native approach to application development and deployment, which has allowed the company to deliver new features and updates faster and with less downtime.

The region also has some big market players that are expanding and updating their services, such as Kyndryl, Virtusa Corp., and OVHcloud US. Recently, in March 2023, OVHcloud US, increased its comprehensive range of storage options to meet the rising volume of data created and the desire for quicker data access. As compared to the standard OVHcloud SWIFT object storage solution, OVHcloud High-Performance Object Storage provides five times more public bandwidth, ten times more internal bandwidth, and is twice as quick in terms of latency. Traditional block and file storage solutions are no longer capable of handling the massive amounts of data created by new, demanding applications; thus, the new object storage products prioritize client demands. Companies are also moving towards a cloud-native strategy, and OVHcloud US' enhanced services enable clients to scale as their data expands without having to integrate numerous solutions.

Market Players Outlook

The major companies serving the global cloud native applications market include Amazon Web Services, Inc., Cognizant Technology Solutions Corp., Ekco Group (Cloudhelix), IBM, India NIC, and others. These companies are considerably contributing to the market’s growth through the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, investments, and new feature launches to stay competitive in the market. For instance, in December 2022, Kyndryl, previously IBM's Managed Infrastructure Services unit, announced the launch of Cloud Native Services, which will assist organizations in expediting their cloud application modernization initiatives. Enterprises will be able to migrate their on-premises apps to cloud service providers such as AWS, GCP, and Azure using the new set of capabilities. In addition, Kyndryl will administer these services on behalf of its clients in hybrid or multicloud settings. According to the company, Cloud Native Services will offer a framework comprised of code assets, processes, and integrated services focused on automatic backup, patching, key performance indicator (KPI) monitoring, security, alerting, and incident management.

The Report Covers-

Market value data analysis for 2023 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global cloud native applications market. Based on the availability of data, information related to new product launches and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market entry and market expansion strategies.

Competitive strategies by identifying ‘who stands where’ in the market.