Global Cloud Native Platforms Market Size (2023 - 2030)

According to the report published by Virtue Market Research in Global cloud native platform market was valued at USD 9.77 Billion and is projected to reach a market size of USD 35 Billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 20%.

Industry Overview

Cloud-native technology is the method for creating and developing applications that are packaged as services inside of containers, maintained by elastic infrastructure, and distributed as microservices by agile DevOps process and constantly delivery workflow. One strategy for accelerating business is cloud-native, which enables enterprises to manage their teams with the benefits of scalability and automation provided by cloud-native technology. Enterprises are encouraged to run and create scalable applications in dynamic and contemporary settings like private, hybrid, and public clouds thanks to cloud-native technologies.

The popularity of cloud computing services is being fuelled by the businesses' growing preference for digital transformation and their positive impact on customer experience, both of which are reducing overall business expenses. Additionally, the cloud has the benefit of the pay-as-you-go approach, which enables businesses to pay only for the cloud services they actually use, resulting in cost savings. This is anticipated to accelerate the expansion of the global market for cloud-native software. The market is comprehensively evaluated in the study on the global cloud-native software industry. The research provides a thorough analysis of the market's major segments, trends, drivers, constraints, competitive environment, and other important elements.

By dividing the organisation into smaller functional units and bringing people, processes, and tools together to work more closely together on development, testing, and operations, cloud-native software helps make the business more agile. Manufacturing, bfsi, healthcare, aerospace and defence, telecom, and other industries mostly employ cloud-native software.

Market Drivers

Rising adoption of cloud-based services will drive the market growth

The increased use of cloud-based services is the main driver behind developers' use of cloud platforms today. These platforms provide instant access to a wide range of cloud resources and services, considerably increasing the market share of cloud-native software. It becomes more agile in the enterprises that help secure cloud data and facilitate simple access to it as a result of the security requirements.

Automation in the industrial processes will propel the market growth

Another important driver of the market for cloud-native software is automation. Additionally, as demand for cloud-based security solutions and services increased, digital transformation changed the landscape globally for cloud-native software. Global prospects for the Cloud-native Software Market are being created by the development of IoT applications and the pace of technical innovation.

Market Restraints

Concerns over data security will challenge the market growth

The total market growth elements will be constrained by a number of reserves and limits. During the projected period, it is estimated that issues including the necessity to address regulatory and compliance policy demands would cause tepid growth. Cyberattacks are also growing quickly. Cyberattacks like Meltdown, account or service hijacking, and cloud malware injection attacks cause shutdowns and financial losses for businesses. These elements might operate as roadblocks to the overall expansion of the worldwide market for cloud-native software.

CLOUD NATIVE PLATFORMS MARKET REPORT COVERAGE:

Segmentation Analysis

Global Cloud Native Platforms Market - By Type:

• Public Cloud

• Private Cloud

• Hybrid Cloud

The market is divided into three segments based on type: public cloud, private cloud, and hybrid cloud. Throughout the anticipated years, the Hybrid Cloud category will continue to have the greatest market share. The demand for this market segment is being driven by reasons that can be linked to its rising usage for a variety of benefits, including it provides data security and vast storage spaces to save capital investments by implementing a combined solution of the public and private cloud model.

Global Cloud Native Platform Market - By Application:

• Manufacturing

• BFSI

• Healthcare

• Aerospace and Defence

• Telecom

• Others

The market is divided into Manufacturing, BFSI, Healthcare, Aerospace and Defence, Telecom, and Others based on Application. The BFSI sector continues to have the greatest market share and is anticipated to see the highest CAGR over the course of the projection period. The variables that might be linked to the rising use of hybrid cloud since it helps banks manage expenses more adaptably are driving demand for this market.

Global Cloud Native Platform Market- By Region:

• North America

• Europe

• Asia-Pacific

• Latin America

• The Middle East and Africa

The Global Cloud-native Software Market is divided into North America, Europe, Asia Pacific, and the Rest of the World based on regional analysis. The greatest market share belongs to North America. The market in the North American area will benefit from the increasing availability of trained personnel, the strong focus SMEs and major organisations have on starting and developing in this region, and continuing initiatives.

During the projection period, APAC is anticipated to present considerable growth possibilities. A few reasons influencing the development of cloud computing in this region include the growing availability of trained labour and the focused attention offered by SMEs and major organisations to enter and grow in this region. Notably, as businesses look to improve their digital activities, public cloud services have greatly expanded throughout APAC. The foundation of many firms' operations nowadays is cloud computing due to the drive to increase corporate agility and delight consumers. Both application performance optimization and maintaining positive client experiences are priorities for businesses.

Global Cloud Native Platform Market - By Companies

1. IBM

2. Nokia

3. Onica

4. Microsoft Azure

5. Google

6. Oracle

7. SAP

8. Symantec

9. VMWare

10. HCL

Impact of Covid-19 on Cloud Native Platform Market

Nearly every industry on the planet has been badly impacted by the COVID-19 epidemic. The supply chain for networking equipment and electrical components has also been impacted by lockdown enforcements in many nations and limits on the transit of non-essential products and resources. Due to this, the supply of electronic components needed to manufacture network equipment has been delayed. Despite the epidemic, businesses have been growing their application development and cloud services. Before the epidemic spread, several firms offered manual application release to clients.Data centres are seeing an increase in inquiries for space and services as a consequence of new lessons learned by businesses around work-from-home (WFH) and data accessibility during the lockdown time. This trend is anticipated to provide possibilities in the market throughout the projection period. In addition to the push for automation at the policy level, there is a rise in the application of automation. The work style will remain data centre-driven even when things return to "normal," with demand rising for more use of e-commerce, digital payments, and Big Data.

NOTABLE HAPPENINGS IN THE GLOBAL CLOUD NATIVE PLATFORM MARKET IN THE RECENT PAST:

• Product Launch: - In 2021, The first offering from the IBM Cloud for Education, the IBM Cloud for Education Applications Lab, was unveiled by IBM. The IBM Cloud for Education attempts to integrate all of the IBM Cloud services and assets that students use the most frequently into a single bundle that makes adoption and consumption easier.

• Business Partnership: - In 2021, The strategic partnership between Google Cloud and SAP SE enables clients to change their businesses, migrate critical business systems to the cloud, and add machine learning (ML) and artificial intelligence (AI) capabilities to already existing business systems.

• Business Expansion: - In 2021, The Streamava cloud gaming platform from Wizitivi has been made available in French by Orange. Users may access the white-label cloud gaming software as a supplement to the operator's 5G rollout. On their mobile devices, users may play more than 300 titles from top publishers without downloading anything.