A recent comprehensive study on the global cloud native storage market has revealed multiple facets of the industry, pointing towards remarkable growth during the forecast period. The insights offered in the report shed light on the market's expansion, driven by the exponential increase in data volumes across companies worldwide and the convenient transition from on-premises to native cloud storage.
According to the study, the world's data generation, capture, copying, and consumption witnessed a substantial surge, reaching 64.2 zettabytes in 2020. This trend is expected to continue, with the amount of data generated worldwide projected to surpass 180 zettabytes by 2025. The market has also benefited from the growing popularity of cloud-native computing, with cloud-native technologies such as containers, Kubernetes, and storage orchestrators making applications and infrastructure more efficient, accessible, and easier to maintain.
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As businesses looked for scalable, flexible, and dependable services at a reasonable cost, the COVID-19 pandemic has further spurred the adoption of cloud native storage solutions. The work-from-home scenario during the global lockdown prompted businesses to move their workloads, data storage, and business continuity to the cloud, resulting in an increased demand for cloud native storage solutions. As a result, the cloud native storage market is expected to witness a significantly high growth rate during the analysis period, driven by the pandemic's impact.
Automation in application updates has played a vital role in driving the market's growth. Cloud-native architecture allows businesses to build automated environments for continuous deployment and testing, leading to seamless upgrades and thorough testing without interrupting services. This continuous deployment approach has become an essential benefit of using containers and cloud-native storage, contributing to the market's expansion.
Moreover, the cloud-native storage market's growth is bolstered by faster data backup and recovery capabilities. Automation and adaptation in cloud native storage enable swift data recovery in case of issues without disrupting services. Cloud-native storage solutions also offer cross-cluster disaster recovery, automated updating, and volume encryption, making data management and block storage easier across all industry verticals.
Despite the positive growth prospects, the market faces challenges concerning latency and network issues in public cloud environments. The physical separation of cloud servers and end-user devices often leads to network latency, impacting application performance. Preventive measures, such as creating WAN lines, are necessary to mitigate the detrimental effects of latency on businesses.
Among the market segments, the solution category holds the largest market share, offering advantages like scalability, reliability, availability, storage performance, and flexibility. Additionally, the BFSI sector leads in demand generation due to cloud-native technology's efficiency in data aggregation, storage, and digital performance enhancement.
Due to the extensive adoption of cloud-native technologies like Kubernetes and containers as well as the region's quick rate of technological advancement, the Asia Pacific region is predicted to dominate the market for cloud native storage. North America is also expected to experience stable revenue growth, owing to the presence of major market players and their activities in the region.
Prominent players in the global cloud native storage market include Alibaba Group Holding Limited, Amazon.com, Inc., Dell Technologies Inc., Dropbox, Google, Inc., Hewlett Packard Enterprise Development L.P., IBM Corporation, Microsoft Corporation, Oracle Corporation, and VMware, Inc.
In summary, the global cloud native storage market is witnessing remarkable growth, driven by the surge in data volumes, convenient transition to cloud storage, and the adoption of cloud-native technologies. As businesses increasingly recognize the benefits of cloud-native solutions, the market is set to witness sustained expansion in the coming years.
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