Global Cloud Native Storage Market Size, Share, and COVID-19 Impact Analysis, By Component (Solution and Services), By Deployment (Public Cloud, Private Cloud), By Enterprise Size (SMEs, and Large Enterprises), By End Use (BFSI, Telecom & IT, Healthcare, Retail & Consumer Goods, Manufacturing, Government, Energy & Utilities, Media & Entertainment, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033

Global Cloud Native Storage Market Insights Forecasts to 2033

• The Global Cloud Native Storage Market Size Was Estimated at USD 16.21 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 22.29% from 2023 to 2033
• The Worldwide Cloud Native Storage Market Size is Expected to Reach USD 121.27 Billion By 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Cloud Native Storage Market Size is Anticipated to Exceed USD 121.27 Billion by 2033, Growing at a CAGR of 22.29% from 2023 to 2033. The market growth is rising due to the demand for scalable, secure, and cost-effective solutions. Partnerships like VMware and Wipro's are driving faster cloud adoption and simplifying migration for global enterprises.

Market Overview

The cloud native storage market refers to the storage options made especially for cloud environments and tailored to work with cloud-native apps that are developed, implemented, and operated there.  These storage options offer high availability, elasticity, and resilience to meet the particular requirements of distributed, containerized, and scalable applications. Microservices and cloud-native storage are closely related.

A crucial component of containerized systems, especially in platforms like Kubernetes, is cloud-native storage. Applications can run dependably at scale through their persistent volumes and stateful workload management capabilities. New storage solutions created specially to meet the requirements of contemporary cloud application ns have emerged as cloud-native technologies like container orchestration gain popularity.

Public sector enterprises are under tremendous pressure to update their storage infrastructure in the digital age to optimize the value of the enormous volumes of data they produce and handle.  With several uses in industries including law enforcement, healthcare, transportation, and security, government data is frequently intricate and multidimensional. Strict privacy and security laws must be followed in the effective management, storage, and protection of this data. Government organizations must implement contemporary digital infrastructures to address new issues as data gains value.

Cloud-native storage is becoming a crucial element for companies that use containerized apps. It guarantees data resiliency, promotes rapid expansion, and improves application performance by providing scalable, adaptable, and economical solutions. Businesses can keep a competitive edge as the cloud-native ecosystem develops by keeping abreast of new developments like edge computing and artificial intelligence.

Report Coverage

This research report categorizes the cloud native storage market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the cloud native storage market. Recent market developments and competitive strategies such as expansion, Type of Software launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the cloud native storage market.

Driving Factors

The cloud native storage market is experiencing rapid growth, driven by the need for storage solutions that are economical, effective, and scalable. Cloud-native storage systems are becoming essential for CI/CD procedures and application update automation. These solutions' quick backup and recovery features improve company continuity. The market is developing as a result of the increasing demand for data security and continuous operations. VMware and Wipro have partnered to speed up application modernization and cloud adoption. This partnership helps multinational corporations lower the costs and complexity of cloud migration.

Restraining Factors

The market growth is hindered by data security and regulatory compliance issues, particularly in regulated sectors like government, healthcare, and finance. Complying with stringent data protection laws like GDPR and HIPAA presents difficulties for these industries. Adoption may be hampered by the need for specialized security measures and compliance frameworks. The further use of cloud-native storage solutions may be hampered until these issues are resolved.

Market Segmentation

The global cloud native storage market is classified intocomponents, deployment, enterprise size, and end use.

• The solution segment accounted for the largest share in 2023 and is estimated to grow at a remarkable CAGR during the forecast period.

Based on the component, the cloud native storage market is categorized into solution and services. Among these, the solution segment accounted for the largest share in 2023 and is estimated to grow at a remarkable CAGR during the forecast period. The segmental growth can be attributed to the need for cloud-native storage solutions that provide scalability, flexibility, and efficiency is being driven by the increasing cloud migration. These solutions cater to the particular requirements of contemporary enterprises and are suited for microservices and containerized applications. Specialized storage solutions will become more and more necessary as businesses depend more on cloud-native technologies. Many sectors are adopting cloud-native storage at a faster rate as a result of this change.

• The public cloud segment accounted for the largest share in 2023 and is estimated to grow at a remarkable CAGR during the forecast period.

Based on the deployment, the cloud native storage market is categorized into public cloud, private cloud. Among these, the public cloud segment accounted for the largest share in 2023 and is estimated to grow at a remarkable CAGR during the forecast period. The segmental growth can be attributed to the businesses are using cloud-native storage solutions to upgrade their IT infrastructure as a result of the growing digital transformation. Containerized apps are being supported by public cloud environments more and more, which boosts efficiency and performance. The move to cloud storage is further accelerated by the need for big data, AI, and IoT applications. 93% of businesses intend to increase their public cloud storage capacity, which will spur innovation, according to the 2024 Wasabi Global Cloud Storage Index.

• The large enterprise segment accounted for the majority of the share in 2023 and is estimated to grow at a remarkable CAGR during the forecast period.

Based on the enterprise size, the cloud native storage market is categorized into SMEs and large enterprises. Among these, the large enterprise segment accounted for the majority of the share in 2023 and is estimated to grow at a remarkable CAGR during the forecast period. The segmental growth can be attributed to the large businesses are moving toward cloud-native storage solutions due to the requirement for improved data security and compliance. Businesses are investing in cutting-edge storage solutions that provide strong security features and conform to international standards as regulatory requirements tighten and the potential of data breaches rises. To satisfy the strict security requirements of big businesses, cloud-native storage providers frequently incorporate encryption, access controls, and other security measures that guarantee data integrity and confidentiality.

• The BFSI segment held the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the end use, the cloud native storage market is categorized into BFSI, telecom & IT, healthcare, retail & consumer goods, manufacturing, government, energy & utilities, media & entertainment, and others. Among these, the BFSI segment held the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth can be attributed to the cloud-native storage solutions give financial institutions the security and compliance features they need to satisfy strict regulatory standards. These technologies reduce the danger of a data breach with powerful encryption, access controls, and certifications. Utilizing cloud-native storage enhances security and lessens the workload associated with compliance management. This makes it possible for BFSI firms to maintain regulatory compliance while improving the protection of sensitive client data.

Regional Segment Analysis of the Cloud Native Storage Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the cloud native storage market over the predicted timeframe.

North America is anticipated to hold the largest share of the cloud native storage market over the predicted timeframe. The regional growth can be attributed to the need for scalable and effective storage solutions is highlighted by the region's strong adoption of cloud computing across a range of industries, including technology, banking, healthcare, and retail. The region's digital transformation ambitions are in line with cloud native storage's capacity to serve contemporary cloud architectures like microservices and containerization.

Asia Pacific is expected to grow at the fastest CAGR of the cloud native storage market during the forecast period. In these regions, they are producing enormous volumes of data due to the spread of mobile devices and rising internet adoption rates. In industries like e-commerce, telecommunications, media, and entertainment, where businesses are struggling to effectively store, manage, and analyze enormous volumes of data, this data expansion is especially noticeable.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the cloud native storage market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Alibaba Group Holding Limited
• Splunk, Inc.
• Amazon Web Services, Inc.
• Rackspace Technology, Inc.
• Broadcom
• Microsoft Corporation
• Citrix Systems, Inc.
• IBM Corporation
• Google LLC
• Huawei Technologies Co., Ltd.
• Arrikto
• Trilio
• MayaData
• Linbit
• Scality
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Recent Developments

• In April 2024, NetApp, a data infrastructure company based in the United States, expanded its relationship with Google Cloud to make it easier for businesses to access data for generative AI (GenAI) applications and other hybrid cloud operations. The new feature is the Flex service tier for Google Cloud NetApp Volumes, which can accommodate storage volumes of almost any size. NetApp is also releasing a beta version of its GenAI toolkit's reference architecture, which is geared for retrieval-augmented generation (RAG) activities on Google Cloud's Vertex AI platform.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the cloud native storage market based on the below-mentioned segments: 

Global Cloud Native Storage Market, By Component

• Solution
• Services

Global Cloud Native Storage Market, By Deployment

• Public Cloud
• Private Cloud

Global Cloud Native Storage Market, By Enterprise Size

• SMEs
• Large Enterprises

Global Cloud Native Storage Market, By End Use

• BFSI
• Telecom & IT
• Healthcare
• Retail & Consumer Goods
• Manufacturing
• Government
• Energy & Utilities
• Media & Entertainment
• Others

Global Cloud Native Storage Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa