Cloud Native Storage Market Overview
As per MRFR analysis, the Cloud Native Storage Market Size was estimated at 43.88 (USD Billion) in 2022.The Cloud Native Storage Market Industry is expected to grow from 58.62 (USD Billion) in 2023 to 795.1 (USD Billion) by 2032. The Cloud Native Storage Market CAGR (growth rate) is expected to be around 33.6% during the forecast period (2024 - 2032).
Key Cloud Native Storage Market Trends Highlighted
The Cloud Native Storage market is witnessing several key trends. Organizations are increasingly embracing cloud-native technologies to enhance their operational efficiency and flexibility. This trend is expected to accelerate the adoption of cloud-native storage solutions. Furthermore, the growing adoption of cloud-native applications and microservices is driving the need for scalable and resilient storage solutions that can handle the dynamic nature of these applications.
Key market drivers include the increasing demand for data storage, the growth of cloud-native applications, and the need for improved data security and compliance. Organizations are also exploring opportunities to optimize their storage infrastructure by leveraging cloud-native storage solutions. The market is expected to witness significant growth as enterprises seek to modernize their storage infrastructure and gain the benefits of cloud-native technologies.
Figure1: Cloud Native Storage Market, 2018 - 2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Cloud Native Storage Market Drivers
Increasing Adoption of Cloud-Based Applications
One of the major drivers for the Cloud Native Storage Market Industry is the proliferation of cloud-based applications. In general, these applications are designed to be scalable, flexible, and cost-effective, which makes them ideal for businesses of all sizes. As such, this key driver will continue to create a high demand for cloud native storage that is expected to grow.
Growing Demand for Data Analytics
Data analytics has been leveraged as a key driver for the Cloud Native Storage Market Industry. Using analytics, various businesses are able to extract insights in order to make better decisions, among others. Businesses that have embraced data analytics as a tool to inform the decision-making process tend to have a high demand for systems to hold the data in place so as to access it when required.
Need for Improved Data Security
The high threat of cyberattacks witnessing an increase as well has been another factor spurring the growth of the Cloud Native Storage Market Industry. Companies are looking for storage to keep their data safe and away from unauthorized access and theft. In such cases, cloud-native storage provides security through a range of features, including encryption, access control, and data replication.
Cloud Native Storage Market Segment Insights
Cloud Native Storage Market Deployment Type Insights
Deployment Type Segment Insights and Overview The Cloud Native Storage Market is segmented by deployment type into cloud-based and on-premises. The cloud-based segment is expected to dominate the market throughout the forecast period, owing to its scalability, flexibility, and cost-effectiveness. The cloud-based deployment model allows businesses to access storage resources on-demand, without the need to invest in and maintain their own infrastructure. Moreover, cloud-based storage services offer a range of features, such as data replication, backup, and recovery, which make them ideal for mission-critical applications.
The on-premises segment, on the other hand, is expected to witness a steady growth rate during the forecast period. This segment is preferred by businesses that require high levels of control and security over their data. On-premises storage solutions provide businesses with the ability to customize their storage infrastructure according to their specific requirements. Additionally, on-premises storage solutions offer lower latency and higher performance than cloud-based storage solutions. In 2023, the cloud-based segment accounted for a revenue share of 65.3% of the Cloud Native Storage Market.
This dominance is expected to continue in the coming years, with the segment expected to reach a revenue share of 70.2% by 2032. The on-premises segment is expected to account for the remaining revenue share of 29.8% in 2032. The growth of the cloud-based segment is being driven by the increasing adoption of cloud computing services by businesses of all sizes. Cloud computing services offer a range of benefits, such as scalability, flexibility, and cost-effectiveness, which make them ideal for businesses that need to store large amounts of data. The on-premises segment is expected to continue to grow, albeit at a slower pace than the cloud-based segment. This growth is being driven by the increasing need for data security and compliance by businesses.
Figure2: Cloud Native Storage Market, by Deployment Type, 2023 & 2032 (USD billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Cloud Native Storage Market Storage Type Insights
The Cloud Native Storage Market revenue is expected to grow significantly in the coming years, driven by the increasing adoption of cloud-native applications and the need for efficient and scalable storage solutions. The market is segmented by storage type, including block storage, file storage, and object storage. Block storage is a type of storage that provides access to raw block devices, which can be used to create and manage virtual machines and containers. File storage is a type of storage that provides access to files and directories, which can be used to store data for applications and users.
Object storage is a type of storage that provides access to objects, which can be used to store unstructured data such as images, videos, and documents. The block storage segment is expected to account for the largest share of the Cloud Native Storage Market revenue in 2023 due to its wide use in cloud-native applications. The file storage segment is expected to grow at a faster rate than the block storage segment due to the increasing demand for storage solutions for unstructured data. The object storage segment is expected to account for the smallest share of the Cloud Native Storage Market revenue in 2023, but it is expected to grow at a faster rate than the block storage and file storage segments due to the increasing adoption of object storage for cloud-native applications.
Cloud Native Storage Market Application Insights
The Cloud Native Storage Market is segmented into various applications, including DevOps, Big Data Analytics, Machine Learning, and Database Management. DevOps accounted for the largest revenue share in 2023 and is projected to maintain its dominance throughout the forecast period. The growing adoption of DevOps practices, such as continuous integration and continuous delivery (CI/CD), is driving the demand for cloud native storage solutions. Big Data Analytics is another key application segment, with the increasing volume and variety of data generated by enterprises. Cloud native storage solutions provide scalable and cost-effective options for storing and managing big data, enabling organizations to derive meaningful insights and make data-driven decisions. Machine Learning and Database Management are other important application segments, with cloud native storage solutions offering benefits such as improved performance, flexibility, and scalability for these applications.
Cloud Native Storage Market Data Protection Insights
The Data Protection segment of the Cloud Native Storage Market is projected to grow significantly in the coming years due to increasing demand for secure and reliable data storage solutions. The market growth is driven by the growing volume of data generated by enterprises, rising concerns over data breaches and compliance requirements, and the adoption of cloud-native technologies. Encryption plays a crucial role in securing data at rest and in transit, preventing unauthorized access and data breaches. Disaster Recovery ensures business continuity by providing mechanisms for data backup and restoration in the event of a disaster or data loss.
Snapshots offer point-in-time copies of data, enabling quick recovery from accidental deletions or data corruption. Replication allows data to be copied across multiple storage nodes, ensuring data availability and redundancy in case of hardware failures or network outages. The Cloud Native Storage Market revenue for Data Protection is expected to reach USD 25.43 billion in 2024, growing at a CAGR of 35.2% from 2023 to 2032. The increasing adoption of cloud-native storage solutions, the growing need for data protection, and the rising awareness of data security regulations are key factors driving the growth of this segment.
Cloud Native Storage Market Data Services Insights
The Data Services segment is projected to witness substantial growth in the Cloud Native Storage Market, with a market revenue of USD 12.5 billion in 2023 and a projected USD 45.4 billion by 2032, growing at a CAGR of 15.4%. This growth is attributed to the increasing demand for data analytics, data management, data migration, and data governance solutions. Data analytics tools help businesses analyze large volumes of data to gain insights and improve decision-making. Data management solutions enable efficient data storage, organization, and retrieval. Data migration services assist in moving data between different storage systems or cloud platforms. Data governance solutions ensure data quality, compliance, and security. The growing adoption of cloud-native technologies, such as containers and microservices, is driving the demand for Data Services in the Cloud Native Storage Market.
Cloud Native Storage Market Regional Insights
The Cloud Native Storage Market is segmented into North America, Europe, APAC, South America, and MEA. The market in North America is expected to hold the largest share due to the presence of major cloud service providers and early adoption of cloud-native technologies. The European market is also expected to grow significantly due to the increasing adoption of cloud-native storage solutions by enterprises. The APAC market is expected to witness the highest growth rate due to the growing number of startups and the increasing adoption of cloud-native technologies in the region.The South American and MEA markets are expected to grow at a moderate pace due to the increasing adoption of cloud-native storage solutions by enterprises.
Figure3: Cloud Native Storage Market, by Regional, 2023 & 2032 (USD billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Cloud Native Storage Market Key Players And Competitive Insights
Major players in the Cloud Native Storage Market industry keep on enhancing their product portfolios to bring innovation and advance their market positions. These players are focusing on investing in research and development to develop new and improved products. Through strategic partnerships, acquisitions, and collaborations, Leading Cloud Native Storage Market players are expanding their market reach and gaining access to new markets. To understand the Cloud Native Storage Market competitive landscape, it is essential to keep track of the latest developments in the industry, as the advancements and innovations in products and technologies can impact the entire industry landscape.
Red Hat Inc. is a provider of open-source software solutions, providing a comprehensive portfolio of enterprise-grade Cloud Native Storage Market products, including Red Hat OpenShift, Red Hat Enterprise Linux, and Red Hat JBoss Enterprise Application Platform. The company's commitment to open-source innovation and strong partnerships with leading technology vendors have helped it establish a strong position in the market. Red Hat's Cloud Native Storage Market offerings are designed to help businesses build, deploy, and manage containerized applications on-premises or in the cloud. The company's focus on providing secure, scalable, and flexible solutions has made it a preferred choice for organizations across various industries.
Another leading player in the Cloud Native Storage Market is DataCore Software. The company offers a range of software-defined storage solutions for both virtualized and cloud environments. DataCore's vFilO software is a highly scalable and resilient storage platform that provides block, file, and object storage services. The company's focus on delivering high-performance, cost-effective, and easy-to-manage storage solutions has helped it gain a significant market share. DataCore's strategic partnerships with leading hardware vendors and its commitment to innovation have contributed to its continued success in the Cloud Native Storage Market.
Key Companies in the Cloud Native Storage Market Include
Cloud Native Storage Market Industry Developments
The cloud native storage market is projected to reach USD 795.1 billion by 2032, exhibiting a CAGR of 33.6% from 2023 to 2032. The increasing adoption of cloud-native applications and the growing need for scalable and cost-effective storage solutions drive market growth. Recent developments include the launch of new cloud-native storage platforms by major vendors such as AWS, Azure, and Google Cloud. Additionally, the integration of artificial intelligence (AI) and machine learning (ML) technologies into cloud-native storage solutions is enhancing data management capabilities and driving market innovation.
Cloud Native Storage Market Segmentation Insights
Cloud Native Storage Market Deployment Type Outlook
Cloud Native Storage Market Storage Type Outlook
- Block Storage
- File Storage
- Object Storage
Cloud Native Storage Market Application Outlook
- DevOps
- Big Data Analytics
- Machine Learning
- Database Management
Cloud Native Storage Market Data Protection Outlook
- Encryption
- Disaster Recovery
- Snapshots
- Replication
Cloud Native Storage Market Data Services Outlook
- Data Analytics
- Data Management
- Data Migration
- Data Governance
Cloud Native Storage Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
43.88 (USD Billion) |
| Market Size 2023 |
58.62 (USD Billion) |
| Market Size 2032 |
795.1 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
33.6% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Hewlett Packard Enterprise (HPE), Google Cloud Platform, Scality, Microsoft Azure, NooBaa, Dell Technologies, Alibaba Cloud, Oracle, IBM, Red Hat Ceph, Amazon Web Services (AWS), OpenStack Swift, Pure Storage, NetApp, MinIO |
| Segments Covered |
Deployment Type, Storage Type, Application, Data Protection, Data Services, Regional |
| Key Market Opportunities |
Cloud adoption and digital transformationGrowing data volumes and demand for scalable storageIncreasing need for cloud-native applications and servicesEmergence of containerized and serverless architecturesAdoption of artificial intelligence and machine learning |
| Key Market Dynamics |
1 Growing adoption of cloud-native applications2 Increasing need for data storage and management3 Emergence of new cloud-native storage technologies4 Growing demand for data analytics and AI5 Increasing focus on data security and compliance |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Cloud Native Storage Market is expected to reach a valuation of USD 58.62 billion by 2023 and is projected to grow at a CAGR of 33.6% from 2023 to 2032, reaching a valuation of USD 795.1 billion by 2032.
North America and Europe are the dominant regions in the Cloud Native Storage Market, accounting for a significant share of the overall market. The Asia Pacific region is expected to witness the highest growth rate due to the increasing adoption of cloud computing services and the growing number of data centers in the region.
Cloud Native Storage finds applications in various sectors, including media and entertainment, healthcare, retail, manufacturing, and financial services. It is used for storing and managing large volumes of data, including unstructured data such as images, videos, and audio files.
Major players in the Cloud Native Storage Market include Amazon Web Services (AWS), Microsoft Azure, Google Cloud, IBM, and Oracle. These companies offer a range of cloud native storage solutions, including object storage, block storage, and file storage.
The growth of the Cloud Native Storage Market is driven by several factors, including the increasing adoption of cloud computing, the growing volume of data being generated and stored, and the need for efficient and scalable storage solutions. Additionally, the rise of artificial intelligence (AI) and machine learning (ML) is also contributing to the demand for cloud native storage.
The Cloud Native Storage Market faces certain challenges, such as concerns about data security and privacy, the complexity of managing and integrating different cloud storage solutions, and the need for skilled professionals to implement and manage cloud native storage systems.
Emerging trends in the Cloud Native Storage Market include the adoption of multi-cloud and hybrid cloud storage solutions, the integration of AI and ML into storage systems, and the growing importance of data governance and compliance.
The Cloud Native Storage Market is projected to grow at a CAGR of 33.6% from 2024 to 2032, reaching a valuation of USD 795.1 billion by 2032.
The key factors driving the growth of the Cloud Native Storage Market include the increasing adoption of cloud computing, the growing volume of data being generated and stored, and the need for efficient and scalable storage solutions.
The key challenges faced by the Cloud Native Storage Market include concerns about data security and privacy, the complexity of managing and integrating different cloud storage solutions, and the need for skilled professionals to implement and manage cloud native storage systems.
