Cloud Native Software Market is Estimated to Witness High Growth Owing to Rising Adoption of Cloud Technologies
Cloud Native Software Market, |
Cloud native software refers to applications that are
containerized and can be deployed on any infrastructure. It enables developers
to build modern applications that can be deployed and easily managed in public,
private, and hybrid clouds. Typical cloud native software products include
container orchestration platforms, continuous integration and continuous
delivery (CI/CD) tools, service meshes, and observability tools. The adoption
of these solutions helps organizations migrate to cloud-based environments,
streamline development workflows, and optimize application performance at
scale.
The global cloud native software market is estimated to be valued at US$ 5.8 Bn in 2023 and is expected to
exhibit a CAGR of 12% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Dynamics
The cloud native software market is anticipated to witness robust growth
over the forecast period owing to rising adoption of cloud technologies among
enterprises globally. One major driver for adoption of cloud native solutions
is agility and flexibility they provide to develop and deploy applications.
Cloud native tools allow organizations to rapidly build, change, and deploy
applications into production on any infrastructure which helps accelerate
digital transformation. Furthermore, containerization of applications helps
achieve maximum hardware resource utilization, high availability, and
horizontal scalability. This improves efficiency of infrastructure spend and
optimizes costs for organizations. However, security concerns around cloud
migrations and lack of in-house skills are some factors that may hamper market
growth. Ongoing investments by major technology players to simplify container
platforms and provide turnkey solutions are expected to create further
opportunities in the market over the forecast period.
SWOT Analysis
Strength: The cloud native software market provides numerous benefits to
organizations such as scalability, agility, and cost-effectiveness. This allows
companies to develop and deploy applications faster while reducing hardware and
operational costs. Cloud native technologies also enable application
portability across various cloud platforms and on-premise data centers.
Weakness: Transitioning to cloud native solutions requires significant changes
to the existing IT infrastructure and architecture of many organizations. This
results in additional upfront costs and resource requirements for retraining
employees. Furthermore, dependencies on public cloud providers for services
introduce vendor lock-in risks for businesses.
Opportunity: The growing adoption of microservices, serverless computing, and
containers is driving the demand for cloud native platforms. As more companies
embrace digital transformation and move workloads to the cloud, there will be
substantial opportunities for Cloud Native Software vendors. The rising
popularity of technologies such as IoT, AR/VR, and edge computing will further
propel the cloud native market growth over the coming years.
Threats: Open source alternatives such as Kubernetes provide free cloud native
capabilities and pose a major threat to commercial vendors. Successfully
tackling emerging challenges around multi-cloud integration and security also
remains an obstacle for market players. Intense competition between public
cloud providers with their own native offerings is another risk faced by
independent cloud native software providers.
Key Takeaways
The global
cloud native software market is expected to witness high growth over
the forecast period of 2023 to 2030. The increasing adoption of public cloud,
microservices, and container technologies by enterprises is a major factor
driving the adoption of cloud native solutions. The market size is anticipated
to reach US$ 5.8 Billion in 2023 and grow at a CAGR of 12% through 2030.
Regional analysis: North America currently dominates the cloud native software
market with the largest share owing to rapid technological advancements and
digital transformation initiatives undertaken by organizations in major
countries like the US and Canada. Asia Pacific is poised to be the fastest
growing regional market, supported by a booming startup culture, rising spend
on cloud infrastructure and growing internet penetration in developing nations
of China, India and Japan.
Key players: Key players operating in the cloud native software market are
Siemens Healthineers AG, Medline Industries, Inc., Owens Corning, Stericycle,
Inc., Philips Healthcare, Trane Technologies plc, Johnson Controls
International plc, Hitachi, Ltd., Honeywell International Inc., Schneider
Electric SE, Johnson & Johnson, Gundersen Health System, Stryker
Corporation, HDR, Inc., Dignity Health. A few players like AWS, Microsoft Azure
and Google Cloud also offer native cloud applications and solutions giving intense
competition to independent providers.
Explore more trending article on this topic:https://www.trendingwebwire.com/the-global-cloud-native-software-market-propelled-by-the-surge-in-demand-for-enhanced-cloud-computing-services/
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