The global cloud native storage market is projected to register a CAGR of 23.3% during the forecast period, reaching USD 45.8 billion by 2028 from an estimated USD 16.0 billion in 2023. Major factors to boost the market growth include increased data volumes across enterprises, ease of switching from on-premises to cloud native storage, and increased automation in application updates.
Some leading players in the cloud native storage market include Microsoft (US), IBM (US), AWS (US), Google (US), Alibaba Cloud (China), Hewlett Packard Enterprise (US), Dell Technologies (US), NetApp (US), Pure Storage (US), SUSE (Germany), VMWare (US), Oracle (US), Huawei (China), Citrix (US), Tencent Cloud (China), Scality (US), Splunk (US), Linbit (US), and Rackspace (US). These players have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to expand their presence in the cloud native storage market.
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In the cloud native storage market, Google offers cloud storage products, such as Cloud Storage, a globally unified, scalable, and durable object storage solution; Local SSD, local SSD storage for Virtual Machine (VM) instances; Persistent Disk, high-performance block storage for VM instances; and Filestore, a fully managed file storage. Its cloud storage products enable organizations to store and access data from the Google Cloud at curated rates. The company is in the US, the UK, and the Rest of the World (RoW). Google caters to a large customer base spread across the globe through a global network of service providers, distributors, and cloud resellers. Google has increasingly invested in security, infrastructure, analytics, data management, and AI over the past years. The company is an established player and a globally recognized vendor for offering cloud storage solutions to leading enterprises across the globe. The company enhances its offerings with features, including modern development environments, data migration, and ML tools to provide enterprise-ready cloud services.
Microsoft is a prominent player in the cloud native storage market. The company concentrates on innovations, solution integrations, and technology partnerships to maintain its leadership position in the global competitive market. The company delivers a delightful experience to its customers and partners using various products, services, and support offerings. The company offers a variety of advanced solutions for object, file, and block storage, along with offering NOSQL cloud storage offerings for storing structured data. It follows the strategy of developing a complete portfolio by conducting R&D at a global level.
IBM has long been a leader in the cloud market. To cater to the cloud native storage market, the company offers products, including IBM Cloud Object Storage and Spectrum Fusion HCI. The IBM Cloud Object Storage is cost-effective and scalable cloud storage for unstructured data. It supports exponential data growth for their cloud-native workloads with cost optimization, robust data security, and data governance with ease of use. Its built-in data lifecycle operations make observing and managing critical workloads easy. Moreover, the company offers cloud native storage software and solutions through its subsidiary, Red Hat. Red Hat is one of the top players in the cloud native storage market. The company provides an OpenShift Container Platform that supports important features such as all basic storage classes, S3-compatible object storage, data replication, and disaster recovery capabilities, allowing application data to be placed across different availability zones. The company offers its solutions to major banking, insurance, legal, and government businesses.
Cloud Native Storage Market by Offering (Solutions and Services), Deployment Mode (Public and Private), Application (Backup & Recovery, Content Delivery & Distribution), Vertical (BFSI, Retail & Consumer Goods) and Region - Global Forecast to 2028
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