The growth of the global cloud-native applications market is driven by the rise in the adoption of IoT devices and the growing need for data security and privacy.
PORTLAND, PORTLAND, OR, UNITED STATE, November 24, 2023 /EINPresswire.com/: According to the report, the global economy generated $5.3 billion in 2022 and is estimated to reach $48.8 billion by 2032, witnessing a CAGR of 25.2% from 2023 to 2032. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
Cloud-native” refers to applications intricately crafted to function at their best in cloud environments, adopting a specialized approach to app development tailored for the cloud. This involves leveraging contemporary deployment methods like containers and container orchestration to license software that functions seamlessly across diverse systems.
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Cloud-native software applications exhibit characteristics such as streamlined construction, efficient release, seamless deployment, and detachment from underlying hardware and operating systems. These attributes are geared towards meeting the requirements of scalability, user-friendliness, portability, and various other factors dictated by demand.
Cloud-native deals with building, deploying, and managing modern applications in cloud computing environments to fully benefit from the scalability, flexibility, and efficiency provided by the cloud. Cloud-native technology allows companies to build resilient and highly available applications while also benefiting from long-term savings in operational expenditures.
The predominant factor driving the adoption of cloud platforms by developers today is the increased utilization of cloud-based services. These platforms offer immediate access to a diverse array of cloud resources and services, significantly expanding the market presence of cloud-native software. This software proves to be more adaptable within enterprises, enhancing the security of cloud data and facilitating convenient access in response to heightened security requirements. Automation stands out as another pivotal driver for the cloud-native software market.
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Furthermore, the global landscape for cloud-native software has undergone a transformative shift due to the surge in demand for cloud-based security solutions and services driven by digital transformation. The development of Internet of Things (IoT) applications and the rapid pace of technological innovation are generating promising opportunities on a global scale for the cloud-native software market.
However, certain challenges and constraints may impede the overall growth momentum. Throughout the projected period, dealing with regulatory and compliance policy requirements is anticipated to hamper growth. The escalating threat of cyberattacks, such as meltdowns, account or service hijacking, and cloud malware injection assaults, poses a risk to businesses, leading to losses and closures. These factors could serve as obstacles to the comprehensive expansion of the global cloud-native software market.
By enterprise size, the large enterprise segment contributed to the highest share in 2022, accounting for around two-thirds of the global cloud native applications market revenue, owing to applications based on demand utilizing cloud infrastructure, ensuring optimal performance and cost effectiveness. Large businesses can handle growing workloads and accommodate growth owing to the rise in scalability without requiring major infrastructure investments. The small and medium-sized enterprise segment would also showcase the fastest CAGR of 27.1% throughout the forecast period, owing to technologies such as serverless computing and containers, which offer better flexibility and lower operating costs due to cloud-native apps.
By region, North America garnered the highest share in 2022, holding nearly two-fifths of the global cloud native applications market revenue in 2022, and is projected to retain its dominance by 2032, owing to the rise in the number of IoT applications hosted on the cloud and increasing investments in emerging technologies such as big data, social media, and mobility. The Asia-Pacific region would also portray the fastest CAGR of 28.9% during the forecast period, owing to the transformation of IT and telecommunication with the increasing adoption and growth of advanced technology, such as cloud computing, data analytics, AI, and IoT, which drives the need for cloud-native applications in the Asia-Pacific region.
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By component, the platform segment held the major share in 2022, garnering more than two-thirds of the global cloud native applications market revenue, owing to the increasing demand for edge computing, which involves processing data closer to the source rather than sending it to a centralized data center. The service segment would also showcase the fastest CAGR of 27.5% during the forecast period, owing to quick improvements in technology, including serverless computing, microservices, and containerization.
Covid-19 scenario-
• The demand for cloud-native applications surged as businesses quickly adopted digital transformation plans and organizations globally migrated to remote work.
• The cloud-native application has to be crucial for sustaining the growth in online activity, enabling remote collaboration, and guaranteeing company continuity.
• During the pandemic, organizations that had previously been unwilling to move their apps to the cloud soon understood the advantages of cloud-native architecture.
• As businesses confronted unprecedented challenges and uncertainties, the scalability, flexibility, and cost-effectiveness provided by cloud platforms became even more crucial.
• The cloud-native application market has expanded as a result of the rise in the use of cloud services and the increase in demand for cloud-native applications. In addition, the pandemic also emphasized the value of flexibility and toughness in application development.
Leading Market Players:
• Amazon.com, Inc.
• Google LLC
• IBM Corporation
• Infosys Limited
• Microsoft Corporation
• Oracle Corporation
• SAP SE
• Red Hat, Inc.
• VmWare, Inc.
• Cognizant
The report analyzes these key players in the global cloud-native applications market. These players have adopted various strategies, such as expansion, new product launches, partnerships, and others, to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
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