Cloud Native Applications Market worth $17.0 billion by 2028, growing at a CAGR of 23.7%: Report by MarketsandMarkets™

Chicago, April 12, 2023 (GLOBE NEWSWIRE) -- The global Cloud Native Applications Market size was estimated at USD 5.9 billion in 2023 and is projected to reach USD 17.0 billion by 2028, at a CAGR of 23.7% during the forecast period, according to a new report by MarketsandMarkets™.

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221 - Tables
52 - Figures
219 - Pages

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Scope of the Report

The software approach to developing, deploying, and managing modern applications in cloud computing environments is known as cloud native. Modern businesses want to create highly scalable, flexible, and resilient applications that can be quickly updated to meet customer demands. They accomplish this by utilizing modern tools and techniques that are built to support application development on cloud infrastructure. These cloud-native technologies enable rapid and frequent changes to applications without disrupting service delivery, giving early adopters a competitive advantage. Cloud-native applications are software programs made up of a number of small, interconnected services known as microservices. Traditionally, developers created monolithic applications with a single block structure that contained all of the necessary functionalities. Software developers use the cloud-native approach to break down functionalities into smaller microservices. Because these microservices operate independently and consume minimal computing resources, cloud-native applications become more agile. Traditional enterprise applications were developed using less adaptable software development techniques. Before releasing software functionalities for testing, developers typically worked on a large batch of them. As a result, traditional enterprise applications were slower to deploy and less scalable.

The platforms segment is expected to have the largest market share during the forecast period. Cloud-native platforms are technologies that enable organizations to create new architecture applications that leverage the benefits of the cloud. With the emphasis on speed and agility in cloud-native technology, cloud-native platforms provide technologies that can help build a more efficient and resilient IT foundation through secure data integration and processing. Cloud native applications are built from the ground up to be cloud scale and performance optimized. They use microservices architectures, managed services, and continuous delivery to achieve reliability and faster time to market. Developers can ensure the consistency and reliability of the operating environment by building and deploying applications in the cloud. They don't have to be concerned about hardware incompatibility because the cloud provider handles it. As a result, developers can concentrate on delivering value in the app rather than setting up the underlying infrastructure.

The geographic analysis of the CNA software market is mainly segmented into 5 regions, namely, North America, Europe, Asia Pacific, Middle East & Africa and Latin America. The outbreak of COVID-19 is the primary factor driving the global market's expansion. COVID-19 is affecting people all over the world, increasing demand for advanced and digital technologies with well-built networks. However, the global Cloud-native Application market is growing at an exponential rate and is expected to rebound dramatically in the post-pandemic world. During the forecast period, North America is expected to have the largest market share in the CNA market, followed by the European region. The Asia Pacific region is expected to grow at the fastest CAGR during the forecast period, owing to the region's manufacturing units, which are gradually adopting advanced technologies. The rising adoption of BYOD and remote work options among SMEs is a key factor driving market growth, which supports market growth. Organizations that use the BYOD concept in conjunction with cloud-based system applications enable employees to work remotely while still using the office network. Because of the growing popularity of public cloud solutions and BYOD policies, enterprises are gradually shifting to a cloud deployment strategy. Companies are quickly embracing work-from-home and bring-your-own-device initiatives. Cloud technologies make it easier to incorporate the work-from-home trend. Furthermore, a significant proportion of SMEs are embracing the BYOD trend in order to reduce initial infrastructure costs. Companies must secure their office cloud servers to improve security and ensure business continuity due to their reliance on the BYOD and WFH trends. Cloud-native software development services have become critical for modern businesses that rely heavily on security applications to differentiate their product and service offerings. CNA service providers provide organizations with comprehensive assistance in designing, building, and deploying cloud-native apps that enable them to generate real business value and gain a competitive advantage. They also provide increased scalability, flexibility, and cost-effectiveness, which is expected to contribute to the growth of the CNA services market.

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As businesses adopt a cloud-first strategy, the digital transition from data centers to hybrid multi-cloud systems raises a number of cybersecurity, compliance, and governance concerns. Furthermore, as more telecommunications companies work with service providers to create hybrid work environments, automation for greater collaboration, and flexible working, the demand for cybersecurity solutions has increased. Furthermore, the increased frequency of cloud-based cyberattacks has necessitated the implementation of robust network and application protection platforms by IT organizations. A CNA platform provides answers to ongoing data storage concerns as well as data management for domain-specific applications in cloud-native environments based on Kubernetes or other cloud native infrastructure. Object storage solutions in a distributed architecture can be built on new product storage technology, block storage, or traditional disc drives. Storage system availability refers to the ability to access data in the event of a failure, whether in the storage medium, controller, transmission system, or any other component. The three components of storage availability are storing redundant copies of data on another storage device, managing failover to redundant devices in the event of a failure, and fixing and restoring broken components. The increasing demand for automation in application updates is a major growth factor in this market. Using cloud native architecture, businesses can create automated platforms for continuous testing and deployment. Banks would perform system changes that were meticulously planned out every six months or so, and they would notify customers in advance of any anticipated downtime by publishing on banking websites. The majority of banking and financial apps, on the other hand, would almost certainly update every week, if not every day, if they had native cloud storage without having to halt operations or notify users. Improved data backup and recovery are growing. Automation and adaptability improve flexibility, dependability, and availability in cloud native storage. The benefit of automation in cloud native storage is that if something goes wrong, lost data can be quickly restored without causing the service to be halted. The use of cloud native storage, which includes features such as cross-cluster disaster recovery, automated updating, and volume encryption, simplifies data handling with block storage.

Some prominent players across all service types profiled in the Cloud Native Applications Market study include Amazon (US), Google (US), IBM (US), Infosys (India), LTI Mindtree (India), Microsoft (US), Oracle (US), Red Hat (US), SAP (Germany), VMware (US), Alibaba Cloud (Singapore), Apexon (US), Citrix (US), Cloudhelix (Sussex), and Cognizant (US).

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