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Cloud Native Storage Market Size
Cloud Native Storage Market size was valued at USD 13.7 billion in 2022 and is estimated to register a CAGR of over 23.5% between 2023 and 2032, attributed to increased adoption of containerization and Kubernetes across enterprises. The rise of containerization technologies, with Kubernetes as a leading container orchestration platform, has led to the need for container-centric storage solutions. Cloud-native storage solutions are designed to integrate seamlessly with Kubernetes and other container orchestrators, enabling persistent storage for containers and microservices in a scalable and efficient manner.
For instance, in October 2023, Chkk, a company that recently emerged from stealth mode, launched its Kubernetes Availability Platform, designed to proactively identify and assess availability risks within Kubernetes environments before they lead to potential outages. The platform features Collective Learning, a capability that gathers and organizes operational insights from various detectors. These insights can be leveraged to pre-validate upgrade plans and prioritize potential risks, helping organizations maintain the stability of their Kubernetes clusters.
| Report Attributes | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 13.7 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 23.5% |
| 2032 Value Projection: | USD 110.9 Billion |
| Historical Data for: | 2018 – 2022 |
| No. of Pages: | 230 |
| Tables, Charts & Figures: | 419 |
| Segments covered: | Component, Enterprise Size, Deployment Model Application, End-use Industry |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The increasing adoption of cloud-native applications and microservices architecture is a primary driver for cloud-native storage market. Cloud-native applications are designed to run and scale in cloud environments, and they require storage solutions that are similarly cloud-native, offering features like scalability, agility, and container orchestration integration.
On the other hand, organizations often have concerns about the security of their data when moving to cloud-native storage solutions. Data breaches, compliance issues, and unauthorized access can deter some enterprises from adopting cloud native storage, particularly in highly regulated industries, thus impacting the market growth dynamics.
COVID-19 Impact
The COVID-19 pandemic significantly influenced the cloud-native storage market. As organizations rapidly transitioned to remote work and digital transformation accelerated, the demand for scalable and resilient cloud-native solutions surged. With the increased adoption of cloud-native applications and distributed workforces, the need for efficient and reliable cloud storage became paramount. This shift in priorities fueled investment and innovation in the cloud-native storage sector, with companies adapting to changing storage demands brought about by the pandemic.
Cloud Native Storage Market Trends
Data portability and multi-Cloud solutions will drive lucrative growth opportunities for the cloud native storage industry over 2023-2032. With the increasing adoption of multi-cloud and hybrid cloud strategies, the demand for cloud-native storage solutions that offer easy data portability and interoperability across multiple cloud providers is on the rise. Trends are emerging in solutions that facilitate data movement and management between different cloud environments while maintaining consistency and accessibility.
Quoting an instance, in October 2023, Hitachi Vantara, a subsidiary of Hitachi specializing in infrastructure, data management, and digital solutions, unveiled the Hitachi Virtual Storage Platform One. This innovative hybrid cloud data platform provides a unified data plane that seamlessly handles structured and unstructured data in block, file, and object storage formats. It enables businesses to deploy various applications across on-premises and public cloud environments with simplicity, eliminating the complexities that many face today. This strategic release of the Hitachi Virtual Storage Platform One is particularly timely, considering the transformative impact of generative AI, cloud technologies, and the exponential growth of enterprise data on operations and innovation within organizations.
Cloud Native Storage Market Analysis
Based on organization size, the large enterprises segment held over 70% of the market share in 2022. The adoption of cloud-native applications and microservices architecture is on the rise, necessitating storage solutions that are agile, scalable, and tailored to the cloud environment. Large enterprises also seek greater flexibility and cost-efficiency in managing their data, which cloud native storage can provide. Additionally, the need for seamless data portability and multi-cloud support to maintain business continuity and innovation fuels the demand for these storage solutions.
Based on end-use industry, the BFSI segment accounted for 32% of the cloud native storage market share in 2022, driven by the need for data agility and scalability in BFSI operations, including real-time analytics and customer-centric services, making cloud-native storage a valuable solution. The growing emphasis on compliance and security standards in the BFSI sector is met by cloud-native storage solutions that offer robust data encryption and access control. Besides, cost-effectiveness and the ability to streamline operations through cloud-native storage contribute to its increasing adoption in the BFSI sector.
North America cloud-native storage market recorded more than 38% of the revenue share in 2022. The rise of containerization technologies, such as Docker, and container orchestration platforms like Kubernetes, has created a strong demand for storage solutions that provide persistent data services for containers in North America. Also, cloud-native storage solutions offer scalability and elasticity, allowing organizations in North America to easily scale storage resources based on fluctuating workloads and demands.
Cloud Native Storage Market Share
Major companies operating in the cloud native storage industry are:
- Alibaba Group Holding Limited
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- Citrix Systems, Inc.
- Dell Technologies
- Google LLC
- Hewlett Packard Enterprise
- Huawei Technologies Co., Ltd.
- IBM Corporation
- Microsoft Corporation
- Pure Storage
- Rackspace Technology, Inc.
- Tencent Cloud
- VMware, Inc.
These companies are employing strategies such as enhancing data security, optimizing container orchestration integrations, developing multi-cloud solutions, and focusing on user-friendly interfaces to strengthen their market presence and meet evolving customer demands.
Cloud Native Storage Industry News
- In March 2023, IBM unveiled a new data protection offering, providing a clear example of its revamped storage strategy, which involves rebranding and streamlining its storage portfolio. IBM Storage Defender leverages AI to monitor events across storage platforms, enhancing its ability to detect malicious activities, ransomware attacks, and even user errors.
The cloud native storage market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments:
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Market, By Component
- Solution
- Block Storage
- File Storage
- Object Storage
- Database Storage
- Services
Market, By Deployment Model
- Public Cloud
- Private Cloud
- Hybrid Cloud
Market, By Enterprise Size
- Large Enterprises
- SME
Market, By Application
- Backup & Recovery
- Content Delivery
- Big Data and Analytics
- Data Archiving
- Database Storage Management
- Others
Market, By End-use Industry
- BFSI
- IT & Telecom
- Healthcare
- Retail & Consumer Goods
- Manufacturing
- Government
- Energy & Utilities
- Media & Entertainment
- Others
The above information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Nordics
- Asia Pacific
- China
- India
- Japan
- South Korea
- Southeast Asia
- ANZ
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- UAE
- Saudi Arabia
- South Africa
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