Cloud native software refers to applications that are containerized and can be deployed on any infrastructure. It enables developers to build modern applications that can be deployed and easily managed in public, private, and hybrid clouds. Typical cloud native software products include container orchestration platforms, continuous integration and continuous delivery (CI/CD) tools, service meshes, and observability tools. The adoption of these solutions helps organizations migrate to cloud-based environments, streamline development workflows, and optimize application performance at scale.

The global cloud native software market is estimated to be valued at US$ 5.8 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics
The cloud native software market is anticipated to witness robust growth over the forecast period owing to rising adoption of cloud technologies among enterprises globally. One major driver for adoption of cloud native solutions is agility and flexibility they provide to develop and deploy applications. Cloud native tools allow organizations to rapidly build, change, and deploy applications into production on any infrastructure which helps accelerate digital transformation. Furthermore, containerization of applications helps achieve maximum hardware resource utilization, high availability, and horizontal scalability. This improves efficiency of infrastructure spend and optimizes costs for organizations. However, security concerns around cloud migrations and lack of in-house skills are some factors that may hamper market growth. Ongoing investments by major technology players to simplify container platforms and provide turnkey solutions are expected to create further opportunities in the market over the forecast period.

SWOT Analysis

Strength: The cloud native software market provides numerous benefits to organizations such as scalability, agility, and cost-effectiveness. This allows companies to develop and deploy applications faster while reducing hardware and operational costs. Cloud native technologies also enable application portability across various cloud platforms and on-premise data centers.

Weakness: Transitioning to cloud native solutions requires significant changes to the existing IT infrastructure and architecture of many organizations. This results in additional upfront costs and resource requirements for retraining employees. Furthermore, dependencies on public cloud providers for services introduce vendor lock-in risks for businesses.

Opportunity: The growing adoption of microservices, serverless computing, and containers is driving the demand for cloud native platforms. As more companies embrace digital transformation and move workloads to the cloud, there will be substantial opportunities for Cloud Native Software vendors. The rising popularity of technologies such as IoT, AR/VR, and edge computing will further propel the cloud native market growth over the coming years.

Threats: Open source alternatives such as Kubernetes provide free cloud native capabilities and pose a major threat to commercial vendors. Successfully tackling emerging challenges around multi-cloud integration and security also remains an obstacle for market players. Intense competition between public cloud providers with their own native offerings is another risk faced by independent cloud native software providers.

Key Takeaways

The global cloud native software market is expected to witness high growth over the forecast period of 2023 to 2030. The increasing adoption of public cloud, microservices, and container technologies by enterprises is a major factor driving the adoption of cloud native solutions. The market size is anticipated to reach US$ 5.8 Billion in 2023 and grow at a CAGR of 12% through 2030.

Regional analysis: North America currently dominates the cloud native software market with the largest share owing to rapid technological advancements and digital transformation initiatives undertaken by organizations in major countries like the US and Canada. Asia Pacific is poised to be the fastest growing regional market, supported by a booming startup culture, rising spend on cloud infrastructure and growing internet penetration in developing nations of China, India and Japan.

Key players: Key players operating in the cloud native software market are Siemens Healthineers AG, Medline Industries, Inc., Owens Corning, Stericycle, Inc., Philips Healthcare, Trane Technologies plc, Johnson Controls International plc, Hitachi, Ltd., Honeywell International Inc., Schneider Electric SE, Johnson & Johnson, Gundersen Health System, Stryker Corporation, HDR, Inc., Dignity Health. A few players like AWS, Microsoft Azure and Google Cloud also offer native cloud applications and solutions giving intense competition to independent providers.

Explore more trending article on this topic:https://www.trendingwebwire.com/the-global-cloud-native-software-market-propelled-by-the-surge-in-demand-for-enhanced-cloud-computing-services/