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Cloud Native Storage Market Size

Report ID: GMI7376
Published Date: Nov 2024
Report Format: PDF

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Cloud Native Storage Market Size

The global cloud native storage market size was valued at USD 19.8 billion in 2024 and is estimated to register a CAGR of 24.3% between 2025 and 2034. As businesses increasingly transition their infrastructure and applications to the cloud, the demand for cloud-native storage solutions surges. Organizations are drawn to cloud technologies for their scalability, flexibility, cost efficiency, and ease of management. This allure has catalyzed a broad adoption of cloud solutions across various industries.

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Consequently, as companies harness cloud computing for their storage, processing, and computing needs, the appetite for cloud-native storage solutions grows. These specialized storage systems are crafted to leverage the cloud's dynamic and distributed characteristics fully.

Cloud Native Storage Market Report Attributes
Report Attribute	Details
Base Year:	2024
Cloud Native Storage Market Size in 2024:	USD 19.8 Billion
Forecast Period:	2025 to 2034
Forecast Period 2025 to 2034 CAGR:	24.3%
2034 Value Projection:	USD 170 Billion
Historical Data for:	2021 – 2024
No. of Pages:	175
Tables, Charts & Figures:	200
Segments covered:	Component, Deployment Model, Enterprise Size, Application, End Use
Growth Drivers:	Growing adoption of hybrid & multi-cloud strategies Increasing digital transformation across various industries Rapid adoption of cloud technologies Rising adoption of cloud native storage among financial institutions Increasing concerns related to data sovereignty
Pitfalls & Challenges:	Data security concerns High data transfer costs

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For instance, in May 2024, Nutanix launched Project Beacon, a multi-year initiative aimed at transforming the landscape of cloud-native application development and management. This project focuses on delivering a suite of data-centric Platform-as-a-Service (PaaS) offerings that enable developers to build applications once and deploy them across various infrastructures seamlessly, whether on-premises or in public clouds.

The increasing digital transformation across various industries significantly drives the cloud-native storage market. Organizations are adopting digital technologies to enhance operational efficiency, improve customer experiences, and foster innovation. These digital transformation initiatives involve the adoption of technologies such as cloud computing, AI, ML, IoT, and big data analytics. These technologies generate vast amounts of data that must be efficiently stored, managed, and analyzed. Consequently, businesses are increasingly turning to cloud-native storage solutions to meet the growing demands of modern, data-intensive workloads.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of cloud-native storage reached USD 19.8 billion in 2024 and is set to grow at a 24.3% CAGR from 2025 to 2034, driven by the increasing transition of businesses to cloud infrastructure.

The large enterprise segment held over 75% of the market share in 2024 and is expected to surpass USD 120 billion by 2034, as these enterprises adopt multi-cloud and hybrid cloud strategies to optimize costs and enhance redundancy.

The North America market accounted for 35% of the revenue share in 2024, supported by the advanced IT and cloud infrastructure in the U.S., which facilitates the adoption of cloud-native storage solutions.

The key players in the industry include Alibaba Group, Amazon, Citrix Systems, Cloudian, Cohesity, Dell Technologies, Google LLC, Hewlett Packard Enterprise, Huawei Technologies, and IBM.