The global cloud native storage market is projected to register a CAGR of 23.3% during the forecast period, reaching USD 45.8 billion by 2028 from an estimated USD 16.0 billion in 2023. Major factors to boost the market growth include increased data volumes across enterprises, ease of switching from on-premises to cloud native storage, and increased automation in application updates.
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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.
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Unique Features in the Cloud Native Storage Market
For containerized applications, conventional storage options are frequently inappropriate. Container-native storage options offer dynamic provisioning, scalability, and integration with container orchestrators like Kubernetes because they are made expressly for container environments.
In order to help organisations avoid vendor lock-in and choose the best cloud platform for a given workload, several cloud-native storage solutions strive to accommodate a variety of cloud providers.
It is simpler to move data and applications between on-premises and multi-cloud environments thanks to cloud-native storage solutions, which frequently place an emphasis on data mobility. It also makes hybrid and multi-cloud methods possible.
A core tenant of cloud-native environments is automation. Infrastructure-as-code tools can be integrated with storage solution APIs to automate provisioning, scaling, and administration.
Applications have the storage capacity they require, when they need it, thanks to the dynamic provisioning of storage resources offered by cloud-native storage platforms. Technology like Container Storage Interface (CSI) is frequently used to do this.
To ensure that applications continue to function even in the case of hardware or network failures, cloud-native storage must provide high availability and data redundancy. Many solutions come with built-in data replication and failover features.
Major Highlights of the Cloud Native Storage Market
The demand for storage solutions that are native to these platforms has increased as a result of the growing use of containers and Kubernetes. Storage options that smoothly work with container orchestration have become more and more prevalent on the market.
Multi-cloud and hybrid cloud methods are being adopted by organisations more frequently. In response, cloud native storage solutions have included support for a number of cloud providers, facilitating the mobility of data and applications across diverse cloud environments.
Data mobility features in cloud native storage solutions make it simpler to move data and applications between cloud regions, data centres, and cloud providers. This facilitates workload movement, data replication, and catastrophe recovery.
Dynamic provisioning and scaling are features of cloud native storage solutions that enable businesses to automatically assign storage resources to meet the demands of their containerized applications. This is facilitated by the deployment of technologies like the Container Storage Interface (CSI).
In cloud native systems, high availability and data resilience are essential. Solutions with built-in data replication, failover methods, and redundancy are available on the market to guarantee data availability.
The cloud native storage environment has been significantly shaped by open source initiatives and ecosystems like the CNCF (Cloud Native Computing Foundation). Projects and open source storage solutions are flourishing.
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Top Key Companies in the Cloud Native Storage Market
Some leading players in the cloud native storage market include Microsoft (US), IBM (US), AWS (US), Google (US), Alibaba Cloud (China), Hewlett Packard Enterprise (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). These players have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to expand their presence in the cloud native storage market.
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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