According to a research report "Cloud Native Applications Market by Component (Platforms and Services), Deployment Mode, Organization Size, Vertical (BFSI, Healthcare & Life Sciences, and IT & Telecom) and Region - Global Forecast to 2028" published by MarketsandMarkets, the global cloud native applications market size is estimated at USD 5.9 billion in 2023 and is projected to reach USD 17.0 billion by 2028, at a CAGR of 23.7% during the forecast period.
Browse 221 market data Tables and 52 Figures spread through 219 Pages and in-depth TOC on "Cloud Native Applications Market by Component (Platforms and Services), Deployment Mode, Organization Size, Vertical (BFSI, Healthcare & Life Sciences, and IT & Telecom) and Region - Global Forecast to 2028"
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Platforms segment to hold the largest market size during the forecast period
A cloud native application is made of discrete, reusable components called microservices that can be integrated into any cloud environment. Microservices serve as building blocks and are frequently packaged in containers. Microservices work together to form an application as a whole, but each can be independently scaled, continuously improved, and rapidly iterated via automation and orchestration processes. Each microservice’s flexibility contributes to the agility and continuous improvement of cloud-native applications. Cloud native is a method of developing and running applications that takes advantage of the benefits of the cloud computing delivery model. Companies that build and operate applications using a cloud native architecture bring new ideas to market faster and respond to customer demands more quickly. While public cloud has changed the way people think about infrastructure investment in almost every industry, cloud-like delivery isn’t limited to public environments. Cloud native development is appropriate for both public and private clouds; it is about how applications are created and deployed rather than where they are created and deployed. More importantly, the ability to provide developers with on-demand access to computing power as well as modern data and application services is critical. Cloud native development combines DevOps, continuous delivery, microservices, and containers. A cloud-native platform is built, optimized, and run entirely in the cloud. Cloud-based tools are fast and scalable because the platform is built in the cloud. This technology provides reliable functionality, seamless interconnectivity, and enhanced business continuity. Cloud-native systems are built entirely in the cloud and provide developers with new and advanced deployment tools for the rapid evolution of the enterprise’s overall architecture. They simplify the design and administration of complex infrastructure. Cloud hosting technology refers to cloud technologies that provide cloud processing and storage. The service provider manages the cloud-based infrastructure, software, and tools. The cost is variable and dependent on the user’s requirements.
Healthcare & life sciences vertical to record the highest CAGR during the forecast period
By accelerating the digital transformation, healthcare companies are adapting and innovating faster than ever before to improve their healthcare services. This technology is gaining traction, allowing for better care delivery while also improving financial and operational outcomes. Cloud-native helps healthcare by easing onboarding and reducing the use of internal resources. Healthcare organizations that are already using cloud services and migrating to cloud-native platforms will find the process easier because the majority of the hardware and software requirements will be met. Because such cloud-native technology is flexible and scalable, healthcare ideas and plans can be easily brought to market and respond to customer needs more quickly. Connected devices continuously transmit data, and the amount of unstructured and structured data generated by the healthcare industry is massive. A single platform system for data collection, preservation, access, and compilation is now required, and health professionals are increasingly aware of the need for such systems. The use of cloud computing in healthcare allows for real-time data analysis, which improves accessibility and workflows, resulting in more proactive healthcare. When migrating from legacy systems to cloud platforms, privacy and security are of the utmost importance. Cloud-native platforms are an excellent solution to these issues. The use of cloud-native platforms can shift the emphasis away from the software, hardware, and infrastructure burden. It protects against data breaches and security breaches while also ensuring compliance with the Health Insurance Portability and Accountability Act (HIPAA) and the General Data Protection Regulation (GDPR) (GDPR).
North America is projected to have the largest market size during the forecast period
North America is expected to have the largest market size in the CNA market, and the trend is expected to continue till 2028. With the new Cloud Native and Orchestration Center in North America, Ericsson is doubling down on cloud native. Cloud native is a modern approach to developing and running software applications that takes advantage of cloud computing’s flexibility, scalability, and resilience. Ericsson has launched the new Cloud Native and Orchestration Center with a focus on North America, where operators are at the forefront of the cloud native transformation. Ericsson’s new center, which brings together more than 100 experts from across the US and Canada, will use this expertise to design, develop, implement, and support the life cycle management of cloud native solutions for customers worldwide. All network functions are migrating to cloud native platforms, from cloud native 5G core to cloud/virtualized RAN, and North America is at the forefront of this telco cloud native transformation. This new Cloud Native and Orchestration Center in North America will assist them with challenges such as platform and application life cycle management, migration, and automation, all of which are more complex for telco solutions. The Cloud Native and Orchestration Center is a virtual collaboration of Ericsson employees in Plano, Texas, as well as other locations across Canada and the US. Ericsson’s Software Delivery Unit will also assist the team, as will Ericsson D-15 Labs in Silicon Valley. Services are critical in the cloud storage market because they support clients both before and after they adopt cloud storage solutions. Service providers assist their clients with various phases such as designing, establishing, maintaining, and updating CNA solutions.
Some prominent players across all service types profiled in the CNA market study include Amazon (US), Google (US), IBM (US), Infosys (India), LTI Mindtree (India), Microsoft (US), Oracle (US), Red Hat (US), SAP (Germany), VMware (US), Alibaba Cloud (Singapore), Apexon (US), Citrix (US), Cloudhelix (Sussex), and Cognizant (US).
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