According to a market report by Lucintel, the future of the cloud native storage market looks promising with opportunities in the banking, financial services & insurance (BFSI), government, healthcare & life sciences, telecommunication, IT & ITeS, manufacturing, energy & utilities, media & entertainment, and retail & consumer good industries. The global cloud native storage market is expected to grow with a CAGR of 23% to 25% from 2023 to 2028. The major drivers for this market are increasing investment of advanced technologies, increased agility and productivity, improved scalability & reliability, and reduced costs.
In this market, solutions and services are the major segments by component. Lucintel forecasts that solutions will remain the fastest growing segment over the forecast period due to the increased demand for reliable and high-performance storage. Additionally, it helps the organization to tackle fundamental requirements such as availability, data security, and durability.
Within this market, BFSI is expected to remain the largest segment due to the growing need for cloud native technology in banking sector that can improve the efficiency of data aggregation and storage.
North America will remain the largest region due to the growing adoption of smart home devices, connected devices, video streaming services, and digital payments that generates heaps of data every day, strong economic landscape, huge IT budgets, high technology assimilation, and early adoption of advanced technologies.
Emerging trends, which have a direct impact on the dynamics of the industry, include emergence of multi-cloud-native strategies by web scale innovators and growing use of advanced technology in enterprises. IBM, Microsoft, AWS, Alibaba Cloud, Google, VMWare, Huawei, Citrix, and Robin.io are the major suppliers in the global cloud native storage market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global cloud native storage market by component, organization size, deployment type, end use industry, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Cloud Native Storage Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global cloud native storage market by component, organization size, deployment type, end use industry, and region, as follows:
Cloud Native Storage Market by Component [Value ($B) Shipment Analysis from 2017 to 2028]:
·Solutions
o File Storage
o Block Storage
o Object Storage
·Services
o Consulting
o Integration and Implementation
o Training, Support, and Maintenance
Cloud Native Storage Market by Organization Size [Value ($B) Shipment Analysis from 2017 to 2028]:
· Large Enterprises
· SMEs
Cloud Native Storage Market by Deployment Type [Value ($B) Shipment Analysis from 2017 to 2028]:
· Public Cloud
· Private Cloud
· Hybrid Cloud
Cloud Native Storage Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:
· Banking, Financial Services, & Insurance
· Government
· Healthcare & Life Sciences
· Telecommunication
· IT & ITeS
· Manufacturing
· Energy & Utilities
· Media & Entertainment
· Retail & Consumer Goods
· Other Verticals
Cloud Native Storage Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
· North America
· Europe
· Asia Pacific
· The Rest of the World
A more than 150 pages and in-depth TOC on “Global Cloud Native Storage Market". To download report brochure, please go to
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About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the infrastructure as code (IaC) market by component (solutions and services), organization size (large enterprises and SMEs), deployment type (public cloud, private cloud, and hybrid cloud), end use industry (BFSI, government, healthcare and life sciences, telecommunication, IT & ITeS, manufacturing, energy & utilities, media & entertainment, retail & consumer goods, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?