Cloud Native Storage Market By Offering (Solutions, Services), By Deployment Mode (Public, Private), By Application (Backup & Recovery, Data Archiving, Big Data & Analytics, Content Delivery & Distribution, Database Storage Management), By End-Use (Banking, Financial Services, & Insurance (BFSI), IT & ITeS, Healthcare & Life Sciences, Telecom, Government & Public Sector, Manufacturing, Media & Entertainment, Energy & Utilities, Retail & Consumer Goods), and by Region; Global Insights & Forecast (2024 – 2030)

As per Intent Market Research, the Cloud Native Storage Market was valued at USD 15.3 billion in 2023 and will surpass USD 64.1 billion by 2030; growing at a CAGR of 22.7% during 2024 - 2030. This robust growth is driven by the increasing adoption of cloud services, advancements in storage technologies, and a heightened focus on data security and compliance. As organizations embrace digital transformation initiatives, the demand for cloud native storage solutions is expected to continue its upward trajectory, making it a pivotal segment in the broader cloud computing landscape.

The Cloud Native Storage Market is rapidly evolving as businesses transition towards digital solutions that support scalable, efficient, and resilient data management. With the exponential growth of data and the increasing demand for seamless data access and management, cloud native storage solutions are gaining traction among organizations of all sizes. This market is characterized by a shift from traditional storage systems to modern architectures that enable agility, automation, and integration with cloud-native applications. As businesses strive to improve operational efficiency and reduce costs, the cloud native storage market is poised for substantial growth.

Object Storage Segment is Largest Owing to Its Scalability and Flexibility

Among the various subsegments of the Cloud Native Storage Market, object storage is the largest, primarily due to its scalability and flexibility in managing unstructured data. Object storage systems can handle vast amounts of data, making them ideal for applications that require extensive storage capacity, such as multimedia content, big data analytics, and backup solutions. This scalability allows organizations to efficiently store and retrieve data without the complexities associated with traditional file systems.

Additionally, object storage integrates seamlessly with cloud-native applications, providing developers with the agility they need to build and deploy applications quickly. As organizations increasingly leverage cloud services, the adoption of object storage is expected to surge, driven by its ability to accommodate diverse workloads and data types. This trend is further reinforced by the growing popularity of Internet of Things (IoT) applications, which generate large volumes of data that need to be stored efficiently and cost-effectively.

Block Storage Segment is Fastest Growing Owing to Its High Performance

The block storage segment within the Cloud Native Storage Market is the fastest growing, primarily due to its high performance and low latency characteristics. Block storage is particularly favored for applications that demand rapid data access, such as databases, virtual machines, and enterprise applications. The ability to deliver consistent performance at scale makes block storage an attractive solution for businesses that prioritize speed and reliability in their operations.

As organizations increasingly migrate to cloud environments, the need for high-performance storage solutions is becoming more pronounced. The rise of data-intensive applications and the expansion of hybrid cloud environments are driving the adoption of block storage solutions. Additionally, advancements in storage technologies, such as solid-state drives (SSDs), are further enhancing the performance capabilities of block storage, making it a preferred choice for organizations looking to optimize their cloud infrastructure.

File Storage Segment is Largest Owing to Its Compatibility with Existing Applications

In the realm of file storage, this segment remains the largest owing to its compatibility with existing applications and ease of integration. File storage systems utilize a hierarchical structure that allows users to store data in files and folders, making it a familiar and straightforward option for businesses transitioning to cloud-native environments. The compatibility with legacy systems ensures that organizations can leverage their existing infrastructure while benefiting from the agility of cloud-based storage solutions.

The growth of the file storage segment is also driven by the increasing need for collaborative applications, where multiple users need to access and share files in real time. As remote work and distributed teams become the norm, businesses are turning to cloud-native file storage solutions to facilitate collaboration and improve productivity. Furthermore, the integration of advanced features such as version control, access management, and automated backups enhances the appeal of file storage solutions in the cloud native landscape.

The North American Region is Largest Owing to Its Technological Advancements

The North American region holds the largest share in the Cloud Native Storage Market, primarily due to its technological advancements and early adoption of cloud solutions. The presence of major cloud service providers, along with a robust IT infrastructure, has fostered an environment conducive to the growth of cloud native storage solutions. Companies in this region are investing significantly in cloud technologies to enhance operational efficiency and gain a competitive edge.

Additionally, the increasing focus on data security and compliance regulations is propelling the demand for cloud native storage solutions in North America. Organizations are seeking solutions that can provide enhanced data protection, scalability, and seamless integration with their existing applications. As businesses continue to prioritize digital transformation initiatives, the North American region is expected to maintain its dominance in the cloud native storage market throughout the forecast period.

Competitive Landscape and Leading Companies

The competitive landscape of the Cloud Native Storage Market is characterized by the presence of several key players striving to innovate and differentiate their offerings. The top ten companies in this space include:

1. Amazon Web Services (AWS): A pioneer in cloud computing, AWS offers a comprehensive range of cloud storage services, including Amazon S3 and Elastic Block Store, catering to diverse storage needs.
2. Microsoft Azure: Azure provides robust cloud storage solutions, such as Azure Blob Storage and Azure Files, known for their scalability and integration with Microsoft applications.
3. Google Cloud Platform: Google’s cloud storage services, including Google Cloud Storage and Persistent Disk, emphasize performance and security, making them popular among enterprises.
4. IBM Cloud: IBM’s cloud storage solutions, such as IBM Cloud Object Storage, focus on providing flexible and cost-effective storage options for businesses of all sizes.
5. Dell Technologies: With offerings like Dell EMC Elastic Cloud Storage, Dell Technologies focuses on hybrid cloud solutions that cater to both traditional and cloud-native applications.
6. Oracle Cloud: Oracle’s cloud storage solutions are designed to support enterprise applications and databases, emphasizing performance and reliability.
7. NetApp: Known for its data management solutions, NetApp offers cloud storage options that integrate seamlessly with public and private clouds.
8. Alibaba Cloud: Alibaba provides a wide range of cloud storage services, including Object Storage Service (OSS), targeting businesses in Asia and beyond.
9. Hewlett Packard Enterprise (HPE): HPE’s cloud storage solutions focus on hybrid cloud environments, enabling businesses to manage their data across multiple platforms.
10. Wasabi Technologies: A newer entrant, Wasabi offers a cost-effective cloud storage solution aimed at high-performance and high-capacity storage needs.

The competitive landscape is marked by strategic partnerships, technological innovations, and a focus on enhancing customer experience. As the Cloud Native Storage Market continues to expand, companies are investing in research and development to introduce advanced features and improve the overall efficiency of their storage solutions. The increasing demand for cloud-native applications and the need for secure, scalable storage options are driving companies to refine their offerings and strengthen their market positions.

Report Objectives

The report will help you answer some of the most critical questions in the Cloud Native Storage Market. A few of them are as follows:

1. What are the key drivers, restraints, opportunities, and challenges influencing the market growth?
2. What are the prevailing technology trends in the cloud native storage market?
3. What is the size of the cloud native storage market based on segments, sub-segments, and regions?
4. What is the size of different market segments across key regions: North America, Europe, Asia Pacific, Latin America, Middle East & Africa?
5. What are the market opportunities for stakeholders after analyzing key market trends?
6. Who are the leading market players and what are their market share and core competencies?
7. What is the degree of competition in the market and what are the key growth strategies adopted by leading players?
8. What is the competitive landscape of the market, including market share analysis, revenue analysis, and a ranking of key players?

Report Scope: