Cloud Native Storage Market Size, Share, and Industry Analysis, By Component (Solution and Services), By Deployment (Public and Private), By Enterprise Type (Large Enterprises and SMEs), By Industry (BFSI, IT & Telecom, Retail & E-commerce, Manufacturing, Government, and Others), and Regional Forecast, 2024-2032

Cloud-native is a new paradigm for emerging and running software applications that integrates technological trends such as containerization, cloud computing, serverless, and microservices. It is a type of storage technology that is projected to be used in a cloud-native environment. These storage solutions are typically scalable, resilient, and dynamically provisioned to meet the demands of cloud-native applications, which often require flexible storage resources that can adapt to changing workloads and infrastructure configurations. For instance,

• According to Fortinet's survey, by 2023, 31% of enterprises expect to run 75% of their workloads in the cloud, while 27% of them proposed to run at least 50% of their corporate processes in the cloud.


• Furthermore, around 44% of traditional small organizations use cloud structures or hosting services, related to 66% of small tech businesses and 74% of businesses.

Furthermore, several key factors drive the growth of the cloud-native storage market. The exponential rise in data generation, with the demand for low OPEX and CAPEX on IT hardware, plays an important role. The cloud storage market is experiencing a substantial growth rate due to the increasing realms of IoT and big data. Cloud storage services provide a flexible, agile, and scalable model for data storage on the internet, operated and managed by service providers. This model offers enterprises advantages such as rapid scalability, deployment, reduced CAPEX, and uninterrupted corporate continuity. These factors are driving the cloud-native storage market revenue.

Impact of Generative AI on the Cloud Native Storage Market

The adoption of generative AI creates large volumes of synthetic data, which can be used for testing, training, or augmenting existing datasets stored in the cloud. AI algorithms can optimize data storage by compressing or encoding data in ways that are more efficient for storage and retrieval. AI-generated content leads to a more personalized experience for users, which may require additional storage capacity to accommodate diverse content. Moreover, generative AI can also be used to enhance security measures by generating synthetic data to test security protocols or identify potential vulnerabilities in cloud storage systems. Therefore, these factors boost the market growth.

Key Insights

The report covers the following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends, and Opportunities


• Business Strategies Adopted by the Key Players


• Impact of Generative AI on the Global Cloud Native Storage Market


• Consolidated SWOT Analysis of Key Players

Segmentation

Analysis By Industry

The BFSI segment dominated the market, with the highest market share as the bank's digital performance is improved by cloud-native technology, which surges the efficiency of storage and data aggregation. It allows immediate access and real-time data monitoring for the business and its clients globally. It can automatically manage and update all aspects of the infrastructure. Even simpler system management than incorporating existing legacy systems makes this high performance available at significantly lower prices than existing data systems. The profits of cloud computing to the economic sector are clear and extensively applicable. For instance,

• By 2025, over 95% of innovative numerical workloads will be installed on cloud-native podiums, up from 30% in 2021, say industry experts.

 These factors are set to boost the segment growth.

Regional Analysis

By region, the global cloud native storage market is segmented into North America, South America, Europe, the Middle East & Africa, and Asia Pacific. As of 2023, North America accounts for the highest market share across the global market. The U.S., in particular, has been a leader in the implementation of cloud-native technologies, adopting innovation, and driving the demand for flexible and scalable storage solutions. Furthermore, companies in North America are leveraging cloud-native storage solutions such as Kubernetes-native storage, software-defined storage, and object storage to meet the demands of modern applications and workloads. Thus, the increasing innovation will drive the market growth.

Global Distribution of the Cloud Native Storage Market, By Region

• North America –35%


• South America – 5%


• Europe – 23%


• Middle East and Africa – 11%


• Asia Pacific –26%

Key Players Covered

The report provides the profiles of key players such as IBM Corporation, Amazon Web Services, Inc., Alibaba Group Holding Limited, Huawei Technologies Co., Ltd., Cardinal Matrix, Microsoft Corporation, Google LLC, Citrix Systems, Inc., Rackspace Technology Inc., and Splunk Inc.

Key Industry Developments

• In February 2024, Amazon Web Services, Inc. launched an AWS infrastructure region in Mexico. The innovation in the region would give developers, entrepreneurs, businesses, education, government, and non-profit organizations better choices for running their applications and aiding end users from data centers located in Mexico.


• In January 2024, Alibaba Group Holding Limited introduced a serverless form of its Platform for AI Elastic Algorithm Service (EAS) to bid a cost-efficient solution for model inference and deployment to enterprises and individuals. This marks a substantial stride in the task of offering original solutions that redefine the potential of artificial intelligence in various applications.