Burlingame, March 14, 2024 (GLOBE NEWSWIRE) -- The global Cloud Native Software Market size is projected to grow from USD 5.8 billion in 2023 to USD 46.88 billion by 2030 at a CAGR of 34.8% during the forecast period, according to a new report by Coherent Market Insights. Cloud native software allows developers to build and run distributed applications in public and private clouds. It aims to facilitate deployment, operations, upgrades and scaling using various techniques like containers, microservices, immutable infrastructure and declarative APIs.
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Market Dynamics:
The Cloud Native Software Market is being primarily driven by the increasing demand for scalability and flexibility in software development. Cloud native software allows organizations to build, test, and deploy applications more efficiently, leading to faster time to market and increased competitiveness. Additionally, the growing adoption of cloud computing and containerization technologies is further fueling the market growth.
Cloud Native Software Market Report Coverage
| Report Coverage | Details |
| Market Revenue in 2023 | $5.8 billion |
| Estimated Value by 2030 | $46.88 billion |
| Growth Rate | Poised to grow at a CAGR of 34.8% |
| Historical Data | 2018–2021 |
| Forecast Period | 2023–2030 |
| Forecast Units | Value (USD Million/Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Component, By Deployment Mode, By Organization Size, By Vertical |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
| Growth Drivers | • Increasing adoption of micro services architecture • Need for faster application development • Increased scalability and flexibility • Shift from monolithic to cloud-native architectures |
| Restraints & Challenges | • Data security and privacy concerns • Complexity of micro services management • Challenges in legacy modernization |
Market Trends:
One key trend in the Cloud Native Software Market is the rise of microservices architecture. This approach to software development involves breaking down applications into smaller, independently deployable services, allowing for greater agility and scalability. Another trend is the emergence of serverless computing, which enables developers to build and run applications without having to manage the underlying infrastructure. These trends are shaping the future of software development and driving innovation in the cloud native space.
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Market Opportunities:
The Cloud Native Software Market is witnessing a surge in demand from large enterprises. As organizations increasingly adopt digital transformation initiatives, they are looking for cloud native solutions to enhance agility, scalability, and efficiency. Large enterprises are investing heavily in cloud native platforms, services, container management, and orchestration tools to streamline their operations and deliver innovative products and services to customers.
Public cloud deployment mode is emerging as a dominant segment in the Cloud Native Software Market. With the increasing popularity of public cloud services offered by leading providers such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform, organizations are opting for public cloud deployment to leverage cost-effective and scalable infrastructure. Public cloud deployment mode enables businesses to accelerate time-to-market, improve collaboration, and achieve operational excellence.
Recent Development:
In March 2022, to facilitate the creation of cloud-native application, IBM introduced the Cloud Native Environment on the IBM zSystems Mainframe.
In April 2022, in order to offer a cutting edge cloud ERRP Solution, SAP introduced RISE with SAP for SAP S/4HANA Cloud.
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Key Market Takeaways:
Cloud Native Software Market is anticipated to witness a CAGR of 34.8% during the forecast period 2023-2030, owing to the increasing demand for cloud native solutions across various industries. On the basis of the component, the platform segment is expected to hold a dominant position, as it provides the foundation for building and managing cloud native applications efficiently.
In terms of deployment mode, the public cloud segment is expected to dominate the market, driven by the scalability and cost benefits offered by public cloud services. Large enterprises are expected to be the key adopters of cloud native software, as they aim to enhance their digital capabilities and stay ahead of the competition.
North America is expected to hold a dominant position in the Cloud Native Software Market over the forecast period, owing to the presence of major cloud service providers and tech companies in the region. Key players operating in the market include Microsoft, IBM, Salesforce, SAP, Adobe, Oracle, VMware, Red Hat, Rancher Labs, Sysdig, Dynatrace, Datadog, Splunk, New Relic, GitLab, CircleCI, CloudBees, Snyk, Twistlock, and Qualys.
Overall, the Cloud Native Software Market presents lucrative opportunities for market players to capitalize on the growing demand for cloud native solutions in large enterprises and the popularity of public cloud deployment mode. Key players need to focus on innovation, strategic partnerships, and expanding their geographical presence to gain a competitive edge in the market.
Read complete market research report, "Cloud Native Software Market, By Component, By Deployment Mode, By Organization Size, By Vertical, By Geography, Market Size And Share Analysis - Growth Trends And Forecasts 2023-2030", Published by Coherent Market Insights.
Market Segmentation:
Cloud Native Software Market by Component:
- Platform
- Services
- Container Management
- Orchestration
- Others
Cloud Native Software Market by Deployment Model:
- Public Cloud
- Private Cloud
- Hybrid Cloud
Cloud Native Software Market by Organization Size:
- Large Enterprises
- Small and Medium-sized Enterprises
- Startups
Cloud Native Software Market by Vertical:
- BFSI
- Healthcare
- Retail & eCommerce
- IT & Telecom
- Government
- Manufacturing
- Others
Cloud Native Software Market by Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
