The Global Cloud Native Storage Market size is expected to reach $41.9 billion by 2028, rising at a market growth of 22.3% CAGR during the forecast period

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A new approach to create and run software applications is termed, cloud native. Some examples of cloud-native include cloud computing, containerization, serverless architectures, and microservices.

New York, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Cloud Native Storage Market Size, Share & Industry Trends Analysis Report By Component, By Deployment Type, By Organization Size, By Vertical, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06321920/?utm_source=GNW
A storage solution created specifically for use in a cloud-native environment is known as cloud-native storage.

In cloud-native environments based on Kubernetes or other cloud native infrastructure, a cloud-native storage platform offers responses to ongoing data storage concerns as well as data management for domain-specific applications. New product storage technology, block storage, or conventional disc drives can all be used as the basis for object storage solutions in a distributed architecture.

The capacity to access data in the event of a breakdown, whether it be in the storage medium, controller, transmission system or any other component, is known as storage system availability. Storing redundant copies of data on another storage device, managing failover to redundant devices in case of failure, and fixing and restoring broken components are the three components of storage availability.

An increase in the investment in cutting-edge technology is the main element driving the growth of the market for cloud-native storage. Due to the necessity of Kubernetes, the cloud infrastructure stack has been greatly reduced in terms of cloud native storage and object storage, which allows network as well as portable storage.

COVID-19 Impact Analysis

Compared to the pre-COVID-19 situation, a greater demand for file storage systems is anticipated. During the forecast period, it is anticipated that the impact of Covid-19 will cause a noticeably high rate of market growth. As businesses transition to remote working environments, employees may collaborate & stay connected owing to cloud-based solutions. With the growing use of collaboration as well as conferencing tools by the distant workforce, the COVID-19 pandemic hastened the adoption of cloud-based storage.

Market Growth Factors

Rising Need Of Automation In Application Updates

Businesses can build automated platforms for constant testing and deployment using cloud native architecture. Every six months or so, banks would conduct system changes that were very carefully planned out, and they would tell consumers in advance of any projected downtime by publishing on banking websites. The majority of banking and financial apps, on the other hand, would probably update every week or even each day if they had native cloud storage, without having to halt operation or alert users.

Faster Data Backup And Recovery Growing The Demand For Cloud Native Storage

Automation and adaptability in cloud native storage boost flexibility, dependability, and availability. The advantage of automation in cloud native storage is that if something goes wrong, lost data can be quickly restored without having to halt the service. Data handling with block storage is made easier by using cloud native storage, which includes features such as cross-cluster disaster recovery, automated updating, as well as volume encryption.

Market Restraining Factors

Network Use And Latency Problems With Public Cloud

There are latency issues with the public cloud while storing & receiving data. Losing end-to-end network control when data is collected in the public cloud, together with high latency, can have a disruptive impact on how apps operate. Similar network troubles on the side of the provider of cloud native storage could interrupt storage solutions, which eventually causes work to stop and major losses for businesses. Additional sources of latency issues include insufficient Internet bandwidth, remote data center locations, and high network traffic.

Component Outlook

Based on component, the cloud native storage market segmented into solutions (file storage, block storage, object storage), and services. In 2021, the solutions segment dominated the cloud native storage market by generating the maximum revenue share. This is because they provide unstructured data storage without the scaling issues associated with conventional file storage. Instead of managing data as files or folders, object storage handles data as objects, which are stored in a single, sizable repository that may be dispersed across several physical storage devices.

Organization Size Outlook

On the basis of organization size, the cloud native storage market is fragmented into large enterprises, and SMEs. In 2021, the large enterprise segment held the highest revenue share in the cloud native storage market. In comparison to SMEs, major organizations have adopted cloud native storage more quickly. The expansion of new technology, goods, services, and solutions is the cause of the low adoption costs. This is leading to the demand for cloud-native storage among SMEs and big businesses.

Deployment Type Outlook

By deployment type, the cloud native storage market is divided into public cloud and private cloud. The private cloud accounted a substantial revenue share in the cloud native storage market in 2021. Private cloud storage is frequently provisioned utilizing out-of-date storage infrastructure. The private cloud should perform the same for storage.

Vertical Outlook

Based on vertical, the cloud native storage market is classified into BFSI, government, healthcare, telecommunication & IT, manufacturing, energy & utilities, media & entertainment, retail & consumer goods, and other verticals. The telecom & IT segment generated a significant revenue share in the cloud native storage market in 2021. Many operators, as well as vendors, are adopting cloud native technology in the telecommunications industry. Although they have long been used by public cloud and IT businesses, the telecoms sector nevertheless faces some unique difficulties.

Regional Outlook

Region wise, the cloud native storage market is analyzed across North America, Europe, Asia Pacific and LAMEA. In 2021, the North America region led the cloud native storage market by generating the largest revenue share. This is due to the rapid adoption of cloud native storage in the nations such as the United States & Canada. Additionally, the region’s growth is anticipated due to the presence of top vendors in the region including Microsoft, AWS, IBM, and Google. Also, significant technological developments are taking place in the region supporting the market growth.

The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation and Google LLC are the forerunners in the Cloud Native Storage Market. Companies such as Amazon Web Services, Inc. (Amazon.com, Inc.), Alibaba Group Holding Limited, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.) are some of the key innovators in Cloud Native Storage Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, IBM Corporation, Amazon Web Services, Inc. (Amazon.com, Inc.), Google LLC, Alibaba Group Holding Limited, VMware, Inc., Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Citrix Systems, Inc., Rackspace Technology, Inc., and Splunk, Inc.

Recent Strategies Deployed in Cloud Native Storage Market

Partnerships, Collaborations & Agreements:

Jun-2022: Splunk partnered with JupiterOne, the industry’s leading cyber asset attack surface management (CAASM) platform. The partnership would allow users to gain context from a single source of truth across their entire security operations and conduct compliance assessments across their cyber assets and environment.

May-2022: Alibaba Group came into partnership with STC, the Saudi digital enabler of telecommunications services. This partnership would leverage the position of the STC Group in the services & technology solutions sector. It would employ the region’s top talent & expertise to support the local capabilities of the kingdom. The enterprise would build an advanced ecosystem capable of meeting the future needs of the Middle East.

May-2022: VMware joined hands with Wipro, a leading global information technology, consulting, and business process services company. This collaboration would allow consumers to achieve the cloud freedom they desire with the enterprise control they require as they execute their digital strategies. Under the collaboration, the companies would bring together the power of VMware Cross-Cloud services with industry-leading Wipro FullStride Cloud Services to help global enterprises accelerate app modernization and reduce the cost, complexity, and risk of moving to the cloud.

Apr-2022: Google Cloud partnered with Linux Foundation, the nonprofit organization enabling mass innovation through open source. Under this partnership, the companies together would work on the project, Nephio. This would result in faster and better connected cloud-native networks of the future.

Mar-2022: Huawei came into partnership with ZainTech, a leading regional digital and ICT solutions provider. This partnership aimed at enhancing its digital & cloud services offerings across various industries in the region. With this partnership, the company would boost its technical innovation & guarantee a superior consumer experience for both its enterprise & government consumers in oil & gas, cloud, 5G campus, big data, smart public transport, and smart city solutions.

Nov-2021: Microsoft came into a partnership with Veritas Technologies, an American international data management company. This partnership aimed at expanding Veritas Enterprise Data Services with Microsoft Azure and simplifying data management while decreasing IT complexity for the enterprise by delivering solutions built on Microsoft Azure.

Nov-2021: AWS teamed up with Goldman Sachs, a leading global investment banking, securities, and investment management firm. Through this collaboration, the companies aimed at creating new data management and analytics solutions for financial services organizations. This collaboration would redefine how clients can discover, organize, & analyze data in the cloud, thus gaining rapid insights as well as driving informed investment decisions.

Nov-2021: VMware extended its existing partnership with Kyndryl, an American multinational information technology infrastructure services provider. This expansion aimed at accelerating IT & business reinvention for consumers through the combination of VMware solutions & Kyndryl’s design, build and managed services. The companies further aimed to help consumers speed their digital transformations by rapidly building & deploying new, more secure applications designed and built for a world of distributed work.

Oct-2021: VMware teamed up with Telia Company, the leading information technology, communications, and media services provider. This collaboration focused on accelerating Telia’s transition to a cloud-native infrastructure as an integral part of Telia’s company-wide transformation across the markets.

Jun-2021: Huawei partnered with Temenos, the banking software company. Under this partnership, the companies would offer Temenos’ cloud-native core banking solution on the Huawei Public Cloud. Furthermore, the partnership would bring together the extensive implementation, cloud hosting, and integration strengths of Huawei and the power of Temenos’ industry-leading banking software.

Sep-2020: Rackspace Technology collaborated with Dell Technologies, an American multinational technology company. This collaboration aimed at creating new modernized solutions for multi-cloud. The companies together would help solve some of the most pressing business transformation challenges facing organizations today, which include optimizing their data center footprints, controlling IT spending, removing barriers to multi-cloud integration, and dealing with security & compliance across a multi-cloud environment.

Product Launches and Product Expansions:

Jun-2022: Alibaba Cloud introduced Cloud Infrastructure Processing Unit (CIPU), a new cloud infrastructure system designed in-house to power its cloud-native data centers during its annual summit. This CIPU helps Alibaba Cloud deliver performance enhancements in networking, storage, security, and computing power to clients by offloading virtualization functions from servers to dedicated hardware.

May-2022: Microsoft extended the Azure cloud platform by adding a slew of updates. The major update is the availability of Draft 2, a reboot of the Draft open-source project that helps developers build Kubernetes apps. Draft 2 serves with an easy way to create, containerize & employ apps directly on Kubernetes, and can also generate GitHub Action workflow files.

Nov-2021: Microsoft extended its Azure Container Apps by introducing a new cloud-native offering. This expansion would enable developers to build microservice architectures using containers. Azure Container Apps is the only serverless container solution offering a combination of both built-in HTTP-based autoscaling, including scaled to zero, and event-driven-based autoscaling to run containers that may be processing messages from queues, streams, or databases.

Sep-2021: Amazon Web Services released Amazon FSx, a new technology for NetApp’s Ontap. Amazon FSx would give NetApp & non-NetApp consumers the chance to run the world’s best storage platform in AWS.

Sep-2021: Google launched Filestore Enterprise & Backup for Google Kubernetes Engine (GKE). The launch would make it easier for consumers to protect data out-of-the-box, across a wide variety of applications & use cases.

Apr-2021: IBM released IBM Spectrum Fusion Hyper-Converged Infrastructure, advanced storage solutions. The company aimed at simplifying data accessibility & availability across hybrid clouds along with planning to ship new container-native software-defined storage solutions designed to help companies expand data availability across complex hybrid clouds for greater business performance and resilience.

Acquisition and Mergers:

Feb-2022: IBM completed the acquisition of Sentaca, a telco consulting services provider. Through this acquisition, the company focused on bolstering its position in the cloud-native & hybrid-cloud market for wireless operators. This acquisition would strengthen IBM’s ability to help carriers modernize their infrastructure & critical applications with its open source platforms like Red Hat OpenShift and OpenStack.

Jan-2022: Rackspace Technology acquired Just Analytics, a leading provider of cloud-based data, analytics, and Artificial Intelligence (AI) services. This acquisition would bring strong regional ties into the Microsoft Azure ecosystem with Just Analytics recently being awarded four regional Microsoft partner of the year awards.

Mar-2021: VMware completed the acquisition of Mesh7, cloud-native application security. The acquisition aimed at boosting the company’s Kubernetes, micro-services & cloud-native capabilities. The acquisition of Mesh7’s contextual API behavior security solution with Tanzu Service Mesh would enable VMware to deliver a high fidelity understanding of which application components are talking to which using APIs.

Geographical Expansions:

Jul-2022: Google expanded its geographical footprints in Latin America and Mexico. Through this expansion, the company focused on expanding its digital infrastructure, supporting digital skills, fostering an entrepreneurial ecosystem & helps create inclusive and sustainable communities. Further, the company aimed at fulfilling the rising demand for cloud services across the globe.

Oct-2021: Alibaba Cloud expanded its geographical footprints in South Korea and Thailand by setting up new data centers in the regions. The company focused on assisting local enterprises in their digital innovation journey, along with unveiling a slew of products and solutions. This acquisition aimed at addressing local consumers in South Korea & Thailand to meet their digitalization requirements from both a technology and services perspective.

Scope of the Study

Market Segments covered in the Report:

By Component

• Solution

o Block Storage

o File Storage

o Object Storage

• Services

By Deployment Type

• Public Cloud

• Private Cloud

By Organization Size

• Large Enterprises

• SMEs

By Vertical

• BFSI

• Telecom & IT

• Healthcare

• Retail & Consumer Goods

• Manufacturing

• Government

• Energy & Utilities

• Media & Entertainment

• Others

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Microsoft Corporation

• IBM Corporation

• Amazon Web Services, Inc. (Amazon.com, Inc.)

• Google LLC

• Alibaba Group Holding Limited

• VMware, Inc.

• Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)

• Citrix Systems, Inc.

• Rackspace Technology, Inc.

• Splunk, Inc.

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Read the full report: https://www.reportlinker.com/p06321920/?utm_source=GNW

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