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Cloud Native Storage Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2027

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Cloud Native Storage Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2027

August 11
18:20 2022
Cloud Native Storage Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2027
Microsoft (US), IBM (US), AWS (US), Google (US), Alibaba Cloud (China), VMWare (US), Huawei (China), Citrix (US), Scality (US), Splunk (US), Linbit (US), Rackspace (US), and Robin.Io (US) among others.
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. As cloud native storage empowers organizations to build and run scalable applications in modern, dynamic environments such as public, private and hybrid clouds. Moreover, these solutions provide containers, service meshes, microservices, immutable infrastructure and declarative APIs necessary across organizations. Such factors are driving the growth of the market.

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As per verticals, the retail and consumer goods segment to grow at highest CAGR during the forecast period

Cloud native storage market is segmented into BFSI, consumer goods, manufacturing, IT and ITeS telecommunications, healthcare and life sciences, media and entertainment, government and public sector, energy and utilities, and other verticals. As per verticals, the retail and consumer goods is expected to grow at the highest CAGR of 24.9% during the forecast period. Retailers are invested in providing best online experience to customers as more customers are turning to digital media. One significant element to cater enhanced customer experience through website and application is speed. With the help of cloud native storages retailers can scale up and down storage resources as per applications needs. Cloud native storage in retail and consumer goods also helps in sav vast amount of customers data easily, which is driving its demand.

Object storage solution to grow at the highest CAGR during the forecast period

The cloud native storage market by solution is segmented into object storage, block storage, and file storage. During the forecast period, object storage solution to grow at the highest CAGR of 23.8% as such solution offers storage for unstructured data that eliminates the scaling limitations of traditional file storage. Object storage manages data as objects, where data is stored in one large repository which may be distributed across multiple physical storage devices, instead of being divided into files or folders. Object storage adds comprehensive metadata to the file, to eliminate the tiered file structure used in file storage, and places data into a flat address space, called a storage pool. This metadata is key to the success of object storage in that it provides deep analysis of the use and function of data in the storage pool. Cloud native object storage is used for applications, such as disaster recovery, backup, and archiving due to its data availability and flexibility. Object storage solutions are provided by various vendors in the cloud native storage market including AWS, NetApp, Cloudian, Microsoft, IBM, Alibaba Cloud, and Google.

The Cloud native storage infrastructure are based on Kubernetes, its platform manages data for stateful application and provides feedback to ongoing data storage issues. The revenues from the solutions and services component offered by cloud native storage suppliers have been taken into consideration when estimating the market size for cloud native storage. Additionally, there are many other kinds of cloud native storage options and these options are further divided into object storage, block storage, and file storage.

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Some of the major cloud native storage market vendors are Microsoft (US), IBM (US), AWS (US), Google (US), Alibaba Cloud (China), VMWare (US), Huawei (China), Citrix (US), Scality (US), Splunk (US), Linbit (US), Rackspace (US), and Robin.Io (US) among others.

Alibaba Cloud was founded in 2009 and is headquartered in Hangzhou, China. The company is listed on the New York Stock Exchange (NYSE) under the ticker symbol BABA. Alibaba Group’s eCommerce ecosystem and foreign customer’s online operations are powered by a full spectrum of cloud computing services by Alibaba Cloud. Alibaba Cloud provides a number of cloud native storage options, such as object storage service (OSS), it is an encrypted and secure object storage solutions for storing the data, and archiving large amount of data in the cloud. The company has worldwide teams based in Hong Kong, London, New York, Dubai, Frankfurt, Paris, Seoul, San Mateo, Singapore, Sydney, and Tokyo. Alibaba Cloud’s global opearions are registered and headquatered in Singapore. Alibaba Cloud provides solutions to various verticals, such as new retail, financial services, manufacturing, ISV, gaming, media, education, telecommunication, healthcare and life sciences, sports, advertising & marketing, and metaverse.

Amazon Web Services (AWS) was founded in 2006 and is headquartered in Seattle, US and it is the subsidiary of Amazon.com Inc. The company provides solutions and services, such as hosting, backup, networking, analytics, blockchain, digital marketing, application integration, and other related services. Additionally, it provides a range of edge devices and services. The company offers plenty of cloud native storage products such as amazon S3, amazon EBS, and amazon EBS snapshot. To distinguish itself from rival companies, the AWS concentrates on product improvements. Through its partner network, the company can simply increase its global footprint to enhance it’s market share and maintain a current and relevant product offering, and it has continuously acquired more cloud native storage providers. The company operates in North America, Middle East & Africa, Asia Pacific, and Latin America through its strong partner network. It caters to various industries, including automotive, consumer goods, energy, financial services, gaming, education, government, healthcare and life sciences, manufacturing, media and entertainment, retail, telecom, travel and hospitality, and power and utilities.

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