Cloud Native Technologies Market to Reach $53.58 Billion by 2032 at 23.8% CAGR: Allied Market Research

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Dec 04, 2023, 05:58 ET

The cloud native technologies market growth is driven by significant patterns that incorporate the growing importance of DevOps practices in software development contributing to the recognition of cloud-native technologies. DevOps points out an alliance between development and operations teams, promoting automation, constant integration, and continuous delivery (CI/CD), which associate well with cloud-native principles, driving the market growth.

NEW CASTLE, Del., Dec. 4, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Cloud Native Technologies Market by Component Type (Hardware, Software, and Services), Deployment Mode (Public Cloud, Private Cloud, and Hybrid Cloud), Organizational Size (Large Enterprises and Small & medium-sized Enterprises), and Industry vertical (BFSI, Retail, Manufacturing, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2023–2032". According to the report, the global cloud native technologies industry generated $6.5 billion in 2022 and is anticipated to generate $ 53.6 billion by 2032, witnessing a CAGR of 23.8% from 2023 to 2032.

Prime determinants of growth

The cloud-native technologies market is influenced by several key determinants such as the increasing demand for scalable, agile, and efficient software solutions that drive the adoption of cloud-native technologies. Businesses seek to leverage these technologies to enhance flexibility, reduce costs, and expedite software development and deployment. In addition, the rise of containerization technologies, such as Docker and Kubernetes, significantly impacts the cloud-native landscape. Containers enable the packaging of applications and their dependencies, facilitating consistency across different environments and streamlining deployment processes. Furthermore, the shift towards microservices architecture plays a crucial role. It enables the development of applications as a suite of small, independently deployable services, fostering scalability and resilience. Overall, the combination of scalability, agility, containerization, microservices, DevOps practices, and competitive advantages collectively drive the growth and adoption of cloud-native technologies in the market.

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Report coverage & details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$6.5 Billion
Market Size in 2032	$53.6 Billion
CAGR	23.8 %
No. of Pages in Report	362
Segments Covered	Component type, Deployment mode, Organizational Size, Industry vertical, and Region.
Drivers	Cloud Native development helps get apps to market quickly Global access for business with the aid of cloud-native applications Significant reduction in vendor lock-ins
Opportunities	Better dependability in terms of IT infrastructure
Restraints	Cost overrun to be a restricting factor Replacing new developments with usual practices

COVID-19 Scenario

The COVID-19 pandemic had a significant impact on consumer trends, preferences, and budgets, leading to notable changes in the cloud-native technologies market. As businesses and individuals adapted to remote work and digital transformation, the demand for cloud-native solutions surged. Companies prioritized cloud-native technologies to enable scalability, flexibility, and remote accessibility, which helped them maintain business continuity during lockdowns.
In addition, the pandemic accelerated the digital transformation of businesses. Companies, under the constraints of the pandemic, realized the importance of cloud-native technologies for flexibility and resilience. As a result, there was a rapid increase in the deployment of containerization and orchestration tools, like Kubernetes, as well as cloud-native application development platforms, leading to a substantial expansion of the cloud-native market.

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The Software segment to maintain its leadership status throughout the forecast period

By component type, the software segment held the highest market share in 2022, accounting for more than half of the global cloud native technologies market revenue, attributable to the rapid adoption of cloud-based infrastructure across industries. Businesses increasingly recognize the agility, scalability, and cost-efficiency offered by cloud-native solutions, propelling the demand for sophisticated software tools tailored for these environments. However, the hardware segment is projected to manifest the highest CAGR of 25.9% from 2023 to 2032, attributable to ongoing advancements in hardware technologies, including the development of more powerful processors, high-capacity storage solutions, and energy-efficient infrastructure, offer immense potential for market growth.

The public cloud segment to maintain its leadership status throughout the forecast period

By deployment mode, the public cloud segment held the highest market share in 2022, accounting for nearly half of the global cloud native technologies market revenue, because of the design and implementation procedures easier, allowing businesses to concentrate more on the functionality and logic of their applications rather than the infrastructure together. However, the private cloud segment is projected to manifest the highest CAGR of 25.9% from 2022 to 2032. Private clouds provide for more customization and flexibility, enabling businesses to adapt the infrastructure and services to their particular requirements. They can thus tailor performance, scalability, and resource allocation to their particular needs.

The large enterprise segment to maintain its leadership status throughout the forecast period

By organizational size, the large enterprise segment held the highest market share in 2022, accounting for more than two-thirds of the global cloud native technologies market revenue, due to a rise in scalability without requiring major infrastructure investments. In addition, cloud-native technologies give significant companies the freedom to implement a multi-cloud approach, letting them select the best cloud providers and services for their particular requirements, lowering vendor lock-in, and boosting resiliency. However, the small enterprises or medium-sized segment is projected to manifest the highest CAGR of 17.7% from 2023 to 2032. Small firms can benefit from technologies such as serverless computing and containers, which offer better flexibility and lower operating costs, due to cloud-native apps. This enables small enterprises to focus on their core skills and spend resources more wisely. The growth of SMEs globally is a primary factor contributing to the expansion of the cloud native technologies market.

The BFSI segment to maintain its leadership status throughout the forecast period

By industry vertical, the BFSI segment held the highest market share in 2022, accounting for more than one-fourth of the global cloud native technologies market revenue, attributable to cloud native architectures. Customers may have easy access to their accounts, transactions, and financial information through these applications, which could boost their happiness and loyalty. However, the retail segment is projected to manifest the highest CAGR of 25.7% from 2022 to 2032, retail organizations are better equipped to add new digital commerce services faster and easier to remain on top of changing retail trends as a cloud-native strategy accelerates development capabilities and boosts speed to market.

North America to maintain its dominance by 2032

By region, North America held the highest market share in terms of revenue in 2022, owing to the ongoing trend, which is serverless computing, which allows developers to focus on writing code without worrying about infrastructure management. Serverless platforms such as AWS Lambda and Azure Functions have gained traction in North America, offering opportunities for developers and businesses to build and deploy applications more efficiently. However, Asia-Pacific is expected to witness the fastest CAGR of 26.9% from 2023 to 2032 and is likely to dominate the market during the forecast period. With surge in containerization and orchestration platforms such as Kubernetes, as well as serverless computing frameworks, these technologies are empowering businesses to streamline their operations and reduce infrastructure costs.

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Leading Market Players: -

Alibaba Group Holding Limited
Dell Technologies Inc.
Dropbox
Google, Inc.
Hewlett Packard Enterprise Development L.P.
IBM Corporation
Microsoft Corporation
Oracle Corporation
Salesforce
VMware, Inc.

The report provides a detailed analysis of these key players in the global cloud-native technologies market. These players have adopted different strategies such as expansion, merger, and product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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