Newark, April 16, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 4 billion in 2023 global cloud-native platforms market will reach USD 37.25 billion in 2033. A collection of tools and methods known as cloud-native platforms makes creating, launching, and maintaining apps possible. Cloud-native platforms use continuous delivery and automation to optimize software development and deployment procedures. Automation speeds up time-to-market, lowers manual labour costs, and raises the software standard. Scalability and elasticity are features of cloud-native platforms that enable apps to grow and shrink dynamically in response to shifting demand. Organizations may maximize resource utilization and minimize costs by automatically adjusting resources to meet workload demands. Because of this, applications can run at different traffic and workload volumes without experiencing lag or performance issues. Cloud-native applications are created with built-in mechanisms to manage errors gracefully, resilience, and fault tolerance. Applications are kept responsive and available even when problems arise because of strategies like circuit breaking, auto-recovery, and replication. Applications are kept up-to-date and responsive even during malfunctions or interruptions with strategies like circuit breaking, auto-recovery, and replication. This improves dependability and guarantees a satisfying user experience.
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Key Insight of the Global Cloud-native Platforms Market
North America will dominate the market during the forecast period.
Innovation and investment in cloud-native technologies have been stimulated in the region home to these global giants by technological advancements led by Google, Amazon, and Microsoft. The vibrant tech industry in this area creates a favourable atmosphere that speeds up the adoption of new technology. Positive legal frameworks that support cloud computing and data privacy also contribute to the market's expansion. A large pool of highly qualified IT workers speeds up adoption even more. Significant investments in cloud infrastructure also assist the scalability and dependability of these platforms and guarantee easy access to cloud services.
In 2023, the solutions segment dominated the market with the largest share of 67% and revenue of 2.68 billion.
The component type segment is divided into solutions and services. In 2023, the solutions segment dominated the market with the largest share of 67% and revenue of 2.68 billion.
In 2023, the hybrid cloud segment dominated the market with the largest share of 52% and revenue of 2.08 billion.
The deployment type segment is divided into private cloud, public cloud, and hybrid cloud. In 2023, the hybrid cloud segment dominated the market with the largest share of 52% and revenue of 2.08 billion.
In 2023, the IT and telecom segment dominated the market with the largest market share of 38% and revenue of 1.52 billion.
The industry vertical segment is divided into IT & telecom, BFSI, retail and e-commerce, mobile and entertainment, government, healthcare & life science, travel & hospitality and others. In 2023, the IT and telecom segment dominated the market with the largest market share of 38% and revenue of 1.52 billion.
Report Scope and Segmentation -
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 25% |
| 2033 Value Projection | USD 37.25 Billion |
| Market Size in 2023 | USD 4 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 238 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | by Component Type, Deployment Type, Industry Vertical |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Cloud-Native Platforms Market Growth Drivers | The growing need for digital transformation |
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Advancement in market
The open-source project Strimzi, which offers an Operator that lets IT organizations declaratively install Apache Kafka messaging software on Kubernetes clusters, has advanced to the incubation stage, according to a statement from the Cloud Native Computing Foundation (CNCF).
Market Dynamics
Driver: The increasing demand for digital transformation.
Globally, businesses are implementing digital transformation programmes to stay competitive and satisfy changing consumer demands. Cloud-native platforms, which provide enterprises with scalability, agility, and innovation capabilities, are essential to this shift. Elastic scalability, made possible by cloud-native architectures, enables businesses to dynamically assign resources in response to demand, assuring peak performance and cost-effectiveness. Cloud-native systems enable teams to release new features and updates more quickly by facilitating agile development and deployment processes. Pay-as-you-go pricing options and automation features are provided by cloud-native platforms, which lower operating expenses and increase cost predictability. These solutions also improve dependability and resilience by offering automated failover options. Consequently, the requirement for modern enterprises to digitally change themselves will continue to fuel the growth of the global cloud-native platform market.
Restraints: The financial aspects related to cloud-native systems.
Growth in the market may be hampered by the original investment as well as continuing operating costs. Businesses that use cloud-native technology usually pay for networking, storage, and computing resources based on how they use them. Licencing fees increase costs in addition to the previously stated expense. Data transfer expenses occur when data travels across geographical borders or outside of the cloud. Costs associated with storage, deployment, monitoring, and maintenance are increased by the need to invest in automation and other technologies to increase productivity and streamline processes.
Opportunities: technological developments.
Technological developments such as serverless computing abstracts lessen the requirement for infrastructure maintenance. With the help of these serverless platforms, businesses can create highly scalable and affordable applications without worrying about maintaining servers. With the use of new technology, businesses can achieve automated. Organizations can now achieve automated, auditable deployments with the new technology, accelerating delivery cycles and increasing operational stability. All of these developments make it possible for businesses to adopt cloud-native architectures. Thus, comparable developments in pertinent technologies will propel the market's expansion during the forecast period.
Challenges: Security concerns.
Security concerns in cloud-native platforms revolve around protecting sensitive data, controlling access, securing network traffic, managing vulnerabilities, ensuring compliance, and responding to incidents effectively. Continuous monitoring and compliance with regulatory requirements and industry standards are crucial. The lack or absence of a robust security infrastructure leaves these platforms vulnerable to attacks that erode trust, alienating consumers and users and challenging the market's growth.
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Some of the major players operating in the global cloud-native platforms market are:
• Amazon Web Services
• Cisco Systems, Inc.
• Docker, Inc.
• Google LLC
• IBM Corporation
• Microsoft Corporation
• Oracle Corporation
• Pivotal Software, Inc.
• Red Hat, Inc.
• VMware, Inc.
Key Segments covered in the market:
By Component Type
• Solutions
• Services
By Deployment Type
• Private Cloud
• Public Cloud
• Hybrid Cloud
By Industry Vertical
• IT & Telecom
• BFSI
• Retail and E-commerce
• Mobile and Entertainment
• Government
• Healthcare & Life Science
• Travel & Hospitality
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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