Market Size and Overview:

According to the report published by Intellect 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

The concept of cloud-native technology revolves around the development and deployment of applications encapsulated as services within containers, managed through elastic infrastructure, and disseminated as microservices through agile DevOps processes and continuous delivery workflows. Embracing cloud-native strategies can expedite business growth, empowering enterprises to efficiently oversee their teams leveraging the scalability and automation intrinsic to cloud-native technology. With cloud-native technologies, enterprises are encouraged to architect and deploy scalable applications across diverse environments such as private, hybrid, and public clouds.

The surge in demand for cloud computing services stems from businesses' increasing inclination towards digital transformation initiatives and their consequential enhancement of customer experiences, which collectively contribute to reduced operational costs. Furthermore, the pay-as-you-go model inherent in cloud services allows businesses to optimize expenditure by solely paying for the utilized services, thereby fostering cost efficiencies. These factors are poised to propel the expansion of the global market for cloud-native software, extensively scrutinized in studies pertaining to the global cloud-native software industry. These studies furnish comprehensive analyses encompassing market segmentation, emerging trends, drivers, impediments, competitive landscapes, and other pertinent factors.

Cloud-native software facilitates organizational agility by fragmenting enterprises into smaller functional units and fostering collaboration among personnel, processes, and tools across development, testing, and operational domains. Predominantly, industries such as manufacturing, BFSI, healthcare, aerospace and defense, and telecommunications rely on cloud-native software to streamline operations.

Market Drivers

The escalating adoption of cloud-based services is anticipated to drive market growth.

The burgeoning utilization of cloud-based services represents a pivotal driver propelling the utilization of cloud platforms among developers today. These platforms offer immediate access to an extensive array of cloud resources and services, substantially augmenting the market penetration of cloud-native software. Enhanced agility within enterprises is fostered, bolstering cloud data security and facilitating seamless data accessibility in response to evolving security imperatives.

Automation in industrial processes is poised to propel market expansion.

Automation constitutes another significant driver propelling the cloud-native software market. As the demand for cloud-based security solutions and services surges, global digital transformation endeavors redefine the landscape for cloud-native software. The proliferation of IoT applications and the rapid pace of technological innovation engender promising prospects for the global Cloud-native Software Market.

Market Restraints

Apprehensions regarding data security pose challenges to market growth.

Several constraints and limitations impede overall market growth prospects. Throughout the forecast period, challenges such as the imperative to address regulatory and compliance mandates are expected to temper market growth. Additionally, the escalating prevalence of cyberattacks, including incidents like Meltdown, account or service hijacking, and cloud malware injection attacks, precipitates operational disruptions and financial losses for businesses. These factors could impede the expansive trajectory of the global market for cloud-native software.

Segmentation Analysis

Global Cloud Native Platforms Market - By Type:

• Public Cloud
• Private Cloud
• Hybrid Cloud

The market is segmented into three categories based on type: public cloud, private cloud, and hybrid cloud. Over the projected period, the Hybrid Cloud segment is expected to maintain its leading market share. The increasing adoption of this segment is attributed to its utilization for various advantages, including enhanced data security and extensive storage capacities, thereby optimizing capital investments through a combined public and private cloud model implementation.

Global Cloud Native Platform Market - By Application:

• Manufacturing
• BFSI
• Healthcare
• Aerospace and Defence
• Telecom
• Others

The market is categorized into Manufacturing, BFSI, Healthcare, Aerospace and Defence, Telecom, and Others based on Application. The BFSI sector retains the largest market share and is projected to witness the highest Compound Annual Growth Rate (CAGR) during the forecast period. The growing adoption of hybrid cloud, facilitating adaptable expense management for banks, is a significant factor driving the demand within this market segment.

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 segmented into North America, Europe, Asia Pacific, and the Rest of the World based on regional analysis. North America holds the predominant market share. The North American market is poised to benefit from factors such as the increasing availability of skilled personnel, the substantial focus of Small and Medium Enterprises (SMEs) and major corporations on establishment and expansion in the region, and ongoing initiatives.

During the forecast period, considerable growth opportunities are anticipated in the Asia-Pacific (APAC) region. Factors contributing to the proliferation of cloud computing in this region include the burgeoning availability of skilled labor and the concerted efforts by SMEs and major corporations to penetrate and expand within this market. Notably, the expansion of public cloud services across APAC has been substantial as businesses strive to enhance their digital operations. Cloud computing has become foundational to many enterprises, driven by the imperative to enhance organizational agility and elevate customer experiences. Enhancing application performance and ensuring positive customer experiences remain key priorities for businesses.

Global Cloud Native Platform Market - By Companies

• IBM
• Nokia
• Onica
• Microsoft Azure
• Google
• Oracle
• SAP
• Symantec
• VMWare
• HCL

Impact of Covid-19 on Cloud Native Platform Market

The COVID-19 pandemic has profoundly impacted nearly every industry worldwide. Lockdown measures in various countries and restrictions on the movement of non-essential goods and resources have disrupted the supply chain for networking equipment and electronic components. Consequently, delays in the supply of electronic components essential for manufacturing network equipment have been observed. Despite the pandemic, businesses have continued to expand their application development and cloud services. Before the outbreak, many firms relied on manual application releases to clients. Data centers are experiencing increased inquiries for space and services as businesses draw lessons from the lockdown period regarding remote work and data accessibility, creating opportunities in the market during the forecast period. The push for automation at the policy level has led to increased adoption of automation. Even as circumstances normalize, the work style is expected to remain centered on data centers, with growing demand for e-commerce, digital payments, and Big Data utilization.

NOTABLE EVENTS IN THE GLOBAL CLOUD NATIVE PLATFORM MARKET IN RECENT TIMES:

Product Launch: - In 2021, IBM unveiled the first offering from the IBM Cloud for Education, the IBM Cloud for Education Applications Lab. The IBM Cloud for Education aims to integrate all frequently used IBM Cloud services and assets by students into a single bundle for simplified adoption and consumption.

Business Partnership: - In 2021, Google Cloud and SAP SE forged a strategic partnership enabling clients to transform their businesses, migrate critical business systems to the cloud, and integrate machine learning (ML) and artificial intelligence (AI) capabilities into existing business systems.

 Business Expansion: - In 2021, Orange made available the Streamava cloud gaming platform from Wizitivi in French. Users can access this white-label cloud gaming software as part of the operator's 5G rollout, allowing them to play over 300 titles from top publishers on their mobile devices without downloads.