The global Cloud Native Software Market is estimated to be valued at US$ 5.80 Bn in 2023 and is expected to exhibit a CAGR of 34.8% 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 and services designed from the ground up for deployment on virtual machines (VMs) and containers that are orchestrated and managed using DevOps tools and techniques. These applications leverage common patterns and tools like declarative APIs, microservices, service discovery and container technologies which are optimized for cloud environments. The use of microservices allows building applications as modular services that can be independently developed, deployed and scaled.
Market key trends:
One of the major trends in the cloud native software market is the rise of containerization. Containerization virtualizes the operating system itself to package code and dependencies together in containers. Unlike virtual machines, containers share the same OS kernel and running containers are highly portable, lightweight and reusable. Container platforms like Docker and Kubernetes have emerged as very popular tools for deploying cloud native applications. Adoption of containerized development and deployment is growing rapidly as it provides benefits like speed, scalability and portability for cloud native applications.
SWOT Analysis
Strength: Cloud native software allows applications to easily scale on demand, improve flexibility and reduce costs. It enables applications to take advantage of cloud computing benefits like high availability and scalability.
Weakness: Migrating existing applications and infrastructure to cloud native can be challenging and require heavy investment. Lack of cloud native skills and expertise is another weakness.
Opportunity: Growing demand for microservices, containers and serverless computing is driving adoption of cloud native architectures. More organizations are modernizing applications to take advantage of cloud capabilities.
Threats: Security threats like data breaches and downtime issues pose challenges. Cloud vendors lock-in is also a threat as it reduces flexibility. Standards and technologies in this evolving space are also constantly changing.
Key Takeaways
The Global Cloud Native Software Market Size is expected to witness high growth, exhibiting CAGR of 34.8% over the forecast period, due to increasing demand for scalable and flexible application development approaches.
Regional analysis
North America is expected to dominate the market, owing to rapid adoption of cloud technologies by large enterprises in the US and Canada. Asia Pacific is anticipated to grow at the fastest pace during the forecast period, due to growing investments by cloud providers in the region to meet the rising adoption.
Key players
Key players operating in the Cloud Native Software market are Microsoft, IBM, Dynatrace, Datadog, Splunk, New Relic, GitLab, CircleCI, CloudBees, Snyk, Twistlock, Qualys, Salesforce, SAP, Adobe, Oracle, VMware, Red Hat, Rancher Labs, Sysdig. These players are focusing on collaborations, mergers and acquisitions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
