Cloud Native Storage Market

[296 Pages Report] The global cloud native storage market size is anticipated to grow at a CAGR of  23.3% during the forecast period, from USD 16.0 billion in 2023 to USD 45.8 billion by 2028. Automation and orchestration capabilities became essential for managing storage resources in dynamic cloud-native environments. Tools that could automatically provision, scale, and manage storage resources were in high demand.

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Cloud Native Storage Market Dynamics

Drivers: Increase in data volume across enterprises

The automation of application updates has ushered in a new era of agility and efficiency in the world of cloud computing. As applications constantly evolve to meet user demands and adapt to changing environments, the need for cloud-native storage solutions has become increasingly apparent. Cloud-native storage is designed to seamlessly integrate with modern cloud-native applications' dynamic and automated nature. It offers scalability, resilience, and performance characteristics that traditional storage systems often struggle to provide in rapidly changing landscapes.

Restraints: Loss of data due to persistent data storing

Cloud-native storage solutions are designed to provide scalability, resilience, and flexibility to modern applications in cloud environments. However, one critical concern that needs to be addressed is the potential loss of data due to persistent data sorting. When data is constantly moved, distributed, or reorganized within a cloud-native storage system, there is a risk of inadvertent data loss or corruption. This can occur during data migrations, upgrades, or other maintenance activities. To mitigate this risk, it is crucial for organizations to implement robust data management strategies that include regular backups, versioning, and data integrity checks.

Opportunities: Proliferation of Kubernetes and containerization

Kubernetes adoption is increasing rapidly, making it more important to address ongoing operations and management at scale. Huge numbers of stateful applications mean that the management burden for applications is expected to grow along with the capacity needed to support them. Organizations need tools to help mitigate Kubernetes-based workloads’ complexity to prepare for ongoing operations and scalability. Several companies are implementing containerization to enhance their application’s portability and data from across computing environments. The containers help virtualize storage and other computing resources at the OS level and help developers in the logical isolation of applications. Cloud storage providers, including IBM, AWS, Alibaba Cloud, Microsoft, HPE, Dell, and Google, have added container technology in their cloud storage and cloud native storage solutions to enable persistent storage, with which running applications can easily consume the data on demand. Thus, containers combined with DevOps and cloud storage completely modernize application development, which is expected to create opportunities for cloud native storage providers.

Challenges: Lack of visibility in a distributed system

Cloud-native storage solutions, a significant challenge arises in the form of limited visibility. Unlike traditional on-premises storage setups where administrators enjoy a centralized view of their storage infrastructure, cloud-native environments scatter data across a multitude of containers, microservices, and cloud instances. This decentralized nature makes it exceedingly difficult to obtain a comprehensive understanding of storage performance, health, and resource utilization. Consequently, this lack of visibility can impede the timely resolution of issues, result in inefficient resource allocation, and complicate the identification and management of problems.

Cloud Native Storage Market Ecosystem

By Application, the Backup and Recovery segment holds the largest market size during the forecast period.

Backup and recovery play a crucial role in safeguarding data and ensuring business continuity. These applications are purpose-built to address the unique challenges of modern, dynamic, and often distributed IT environments. By seamlessly integrating with cloud-native technologies and containerized workloads, they provide a layer of resilience that ensures data is protected against loss, corruption, or disasters. These solutions enable organizations to efficiently create backups, perform granular recoveries, and maintain data integrity, thereby supporting the reliable and uninterrupted operation of cloud-native applications and services.

By Vertical, the BFSI segment holds the largest market size during the forecast period.

Cloud-native storage solutions for the Banking, Financial Services, and Insurance (BFSI) sector are designed to seamlessly integrate with modern cloud infrastructure, providing secure, scalable, and highly available data storage and management capabilities. These solutions leverage containerization, microservices, and orchestration technologies to ensure rapid deployment, efficient resource utilization, and flexibility in handling the diverse data needs of BFSI organizations. With built-in data encryption, compliance controls, and data replication features, cloud-native storage in BFSI ensures data integrity, disaster recovery, and regulatory compliance while enabling agile and cost-effective operations in the ever-evolving financial landscape.

North America to hold the largest market size during the forecast period.

The geographic analysis of the cloud native storage market is segmented into regions, including North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Cloud-native storage solutions in North America have rapidly evolved to meet the dynamic demands of modern applications and infrastructure. With a focus on scalability, agility, and resilience, these technologies leverage cloud-based platforms and containerization to efficiently store, manage, and access data. From popular solutions like Amazon EBS and S3 in AWS to Azure Blob Storage and Google Cloud Storage in GCP, organizations across North America are embracing these cloud-native storage options to ensure seamless data handling, high availability, and disaster recovery capabilities, enabling them to thrive in an increasingly digital and data-driven landscape.

Key Market Players

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.

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Scope of the Report

This research report categorizes the Cloud Native Storage Market to forecast revenue and analyze trends in each of the following submarkets:

By Offering:

• Solutions
  • File Storage
  • Block Storage
  • Object Storage
• Solutions by deployment mode
  • Public cloud
  • Private cloud
• Services
  • Training & Consulting Services
  • System Integration & Implementation Services
  • Support & Maintenance

By Verticals:

• Banking, Financial Services, & Insurance (BFSI)
• Government & Public Sector
• Healthcare & Life Sciences
• Telecom
• IT & ITeS
• Manufacturing
• Energy & Utilities
• Media & Entertainment
• Retail & Consumer Goods
• Other Verticals

By Region:

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia and New Zealand (ANZ)
  • ASEAN Countries
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Israel
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America

Recent Developments

• In August 2023, Microsoft enhanced the Azure Elastic SAN service by introducing support for private endpoints and enabling volume sharing through SCSI (Small Computer System Interface) Persistent Reservation.
• In August 2023, AWS announced the launch of the AWS Israel (Tel Aviv) Region. This launch signifies that developers, startups, entrepreneurs, enterprises, as well as government, education, and nonprofit entities, have an expanded array of options for hosting their applications and serving their end users within Israel's borders.
• In August 2023, Google recently introduced three innovative cloud storage solutions: Cloud Storage FUSE, designed to support Artificial Intelligence (AI) applications needing file system semantics; Parallelstore, a parallel file system tailored for demanding AI and High-Performance Computing (HPC) applications leveraging GPUs; and NetApp.
• In May 2023,  IBM introduced IBM Hybrid Cloud Mesh, a Software as a Service (SaaS) solution tailored to empower enterprises in managing their hybrid multi-cloud infrastructure effectively. By adopting IBM Hybrid Cloud Mesh, modern enterprises can streamline their infrastructure operations across hybrid multi-cloud and diverse environments, enhancing overall efficiency and adaptability.
• In November 2022, AWS introduced three new Amazon Elastic Compute Cloud (EC2) instances featuring AWS-designed chips, providing improved compute performance at a lower cost across a variety of workloads.
• In September 2022, IBM announced the general availability of IBM LinuxONE Bare Metal Servers. With this new solution, the LinuxONE platform may now be deployed in an off-premises Infrastructure as a Service (IaaS) model while enjoying all the advantages, including core consolidation, resultant software license savings, and decreased energy consumption to support sustainability goals.
• In September 2022,  A new feature from Google Cloud allows users to significantly reduce the cold start time of Cloud Run and Cloud Functions. This is named startup CPU boost for Cloud Run and Cloud Functions 2nd gen.

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