The worldwide cloud native storage market is expected to expand at a rapid pace, with a compound annual growth rate (CAGR) of 23.3% over the next few years. This growth will be driven by several factors, including the rising volume of data generated by businesses, the ease of transitioning from traditional on-premises storage to cloud-based solutions, and the increasing automation of application updates. As a result, the market size is projected to reach USD 45.8 billion by 2028, up from an estimated USD 16.0 billion in 2023.
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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.
By region, Asia Pacific accounted for the highest growth rate during the forecast period.
Asia Pacific is witnessing significant technological innovation in cloud native storage. Many regional organizations were undergoing digital transformation efforts, including migrating to the cloud and adopting cloud native technologies. This shift necessitated modern and scalable storage solutions to support cloud native applications. Few of the leading countries, including China, India, Japan, South Korea, and Southeast Asian nations, witness substantial cloud adoption rates. Cloud providers like AWS, Azure, Google, Alibaba Cloud, and regional providers offered cloud native storage services that catered to the diverse needs of businesses in the region.
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Unique Features in the Cloud Native Storage Market
Cloud-native storage solutions are designed with deep integration into Kubernetes, the leading container orchestration platform. These storage systems provide seamless orchestration of storage resources, allowing for dynamic provisioning, scaling, and management directly through Kubernetes.
One of the defining characteristics of cloud-native storage is its ability to scale horizontally. These systems are built to grow with demand, supporting massive data volumes and fluctuating workloads without compromising performance. Elasticity ensures that resources can be added or removed as needed, optimizing cost and performance in a dynamic cloud environment.
As organizations adopt multi-cloud and hybrid cloud strategies, cloud-native storage solutions have evolved to offer compatibility across different cloud providers and on-premises environments. This feature allows businesses to leverage the best features of various platforms while maintaining a unified storage strategy, ensuring data portability, redundancy, and resilience across diverse environments.
Cloud-native storage is designed to work seamlessly with microservices architectures and containerized applications. This support includes persistent storage for containers, ensuring that data can be consistently and reliably accessed by microservices, even as they scale or migrate across different environments.
Automation is at the core of cloud-native storage solutions. These systems often include self-healing capabilities, where they automatically detect and recover from failures without human intervention. This feature reduces downtime and operational overhead, ensuring high availability and reliability for critical applications.
Major Highlights of the Cloud Native Storage Market
As Kubernetes has become the de facto standard for container orchestration, the demand for storage solutions that integrate seamlessly with Kubernetes has surged. Cloud-native storage systems are designed to support containerized workloads, offering persistent storage that can scale dynamically with applications.
One of the key highlights of the cloud-native storage market is its focus on scalability and high performance. These storage solutions are built to handle the demands of modern, distributed applications that require scalable, high-throughput, and low-latency storage.
Organizations are increasingly adopting multi-cloud and hybrid cloud strategies to avoid vendor lock-in, enhance redundancy, and optimize costs. Cloud-native storage solutions that offer seamless interoperability across multiple cloud environments are in high demand.
Automation is a critical factor in the cloud-native storage market, with solutions designed to integrate with DevOps practices. Automated provisioning, scaling, and management of storage resources help reduce operational overhead and enhance the agility of development and operations teams.
As data security and regulatory compliance become increasingly important, cloud-native storage providers are focusing on offering robust security features. These include end-to-end encryption, role-based access control, and compliance with industry standards and regulations.
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Top Companies in the Cloud Native Storage Market
Some major players in the cloud native storage market include Microsoft (US), IBM (US), AWS (US), Google (US), Alibaba Cloud (China), HPE (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).
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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