The global Cloud Native Software Market is estimated to be valued at US$ 5.80 billion in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cloud native software refers to applications that are built using practices inspired by cloud computing. They leverage modern software engineering approaches like containers, microservices, immutable infrastructure and declarative APIs. Cloud native applications are designed to utilize and take advantage of the flexibility, scalability and fault tolerance of cloud infrastructure. They enable enterprises to deploy and update applications quickly using automation, without traditional lengthy testing cycles. With cloud native software, businesses can build, deploy and manage applications easily in public, private and hybrid cloud environments. This makes cloud native technologies ideal for enabling digital transformation by enhancing software delivery and operations.
Market key trends:
One of the key trends driving growth in the Global Cloud Native Software Market is the increasing need for scalability and agility among enterprises. As business requirements evolve rapidly, organizations require application platforms that can support changing workloads efficiently. Traditional monolithic applications face challenges meeting these dynamic needs. In contrast, cloud native technologies facilitate continuous delivery of updates and easy scaling of applications up or down based on demand. Microservices architecture promoted by cloud native approach also provides modularity, which makes applications more scalable and resilient. This enhances an organization's ability to respond to market changes promptly through constant software improvements.
Porter's Analysis
Threat of new entrants: The cloud native software market has modest threat of new entrants due to high R&D costs and need for robust server infrastructure and technologies.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of numerous vendors providing similar cloud native software.
Bargaining power of suppliers: Software developers and cloud service providers have moderate bargaining power over cloud native software vendors.
Threat of new substitutes: Threat of new substitutes is low as cloud native software provides unique benefits compared to traditional infrastructure software.
Competitive rivalry: The cloud native software market experiences high competition due to presence of numerous global and local players.
Key Takeaways
The global cloud native software market is expected to witness high growth, exhibiting CAGR of 7.7% over the forecast period, due to increasing demand for scalable and agile cloud services from organizations. The market was valued at US$ 5.80 billion in 2023.
North America dominated the global cloud native software market, accounting for over 35% share in 2023. The growth in the region is driven by growing adoption of cloud native architectures by large enterprises to prevent vendor lock-in and improve reliability. Asia Pacific is expected to exhibit the highest CAGR during the forecast period attributable to surging demand for cloud services in emerging countries such as China and India.
Key players operating in the cloud native software market include Microsoft, IBM, Dynatrace, Datadog, Splunk, New Relic, GitLab, CircleCI, CloudBees, Snyk, Twistlock, Qualys, Salesforce, SAP, Adobe, Oracle, VMware, Red Hat, Rancher Labs, and Sysdig. Major players are focusing on partnerships and acquisitions to expand their cloud native solutions portfolio and customer base. For instance, in 2022, Splunk acquired Flowmill to strengthen its observability platform with application performance monitoring capabilities.
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The report was prepared with the help of the data for 2020 and the upcoming prediction span from 2020-2026.
A general idea is provided about this market's capacity and the figures that were predictive have also been disclosed for the forecast period.Key Player Mentioned: IBM, Nokia, Onica, Microsoft Azure, Google, Oracle, SAP, Symantec, VMWare, Salesforce, HCL, Amadeus, Pivotal, AWSRequest Sample Copy at: https://introspectivemarketresearch.com/request/12008Economy 2020-2026 Industry Research Report that is Cloud-native Software is currently a study which helps provides questions related and answers to the emerging trends and increase opportunities within this business.
According to all the facets and trends and collecting recent and historical data from various authentic resources, the analysis presents a figurative quote for this upcoming market requirement, together side a compound development.Product Segment Analysis: Public Cloud, Private CloudApplication Segment Analysis: Manufacturing, BFSI, Healthcare, Aerospace & Defense, Telecom, OthersRegional Segment Analysis: North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain etc.
This study provides a comprehensive summary of the marketplace dynamics which are anticipated to influence the sector in the coming decades.
Additionally, this report encompasses an accurate competitive analysis of major market players and their strategies during the projection timeline.Complete Analysis of the Cloud-native Software Market: Comprehensive assessable analysis of the industry is provided for the period of 2020-2026 to help investors to capitalize on the essential market opportunities.
The key findings and recommendations highlight vital progressive industry trends in the global Cloud-native Software market, thereby allowing players to improve effective long term policies.
