Published Date: 31-Aug-2022
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According to a new report, published by KBV research, The Global Cloud Native Storage Market size is expected to reach $41.9 billion by 2028, rising at a market growth of 22.3% CAGR during the forecast period.
The Services segment has shown the growth rate of 23.3% during (2022 - 2028). Services are essential in the market for cloud storage since they support clients before and after their adoption of cloud storage solutions. Various phases, including designing, establishing, maintaining, and updating cloud native storage solutions, are supported by service providers for their clients.
The Public Cloud segment acquired maximum revenue share the Global Cloud Native Storage Market by Deployment Type in 2021 thereby, achieving a market value of $29.4 billion by 2028. The public clouds provide a wide range of cloud native storage options that include object storage, managed disks attached to compute instances and cloud-based file shares. The public cloud does not require to hardware or software, and the user only pay for the services.
The SMEs segment is showcasing a CAGR of 23.8% during (2022 - 2028). Data centers of various sizes can now employ cloud storage because it has reached an advanced stage of development. Any other storage platform that SMEs may have previously used cannot compare to this storage tier in any way. As a result of this, cloud native storage solutions are being highly adopted by SMEs.
The BFSI segment is leading the Global Cloud Native Storage Market by Vertical in 2021 thereby, achieving a market value of $8.9 billion by 2028. This is due to the digitalization of banking & financial services including digital payments, online banking, mobile wallets, net banking, and others. The demand for safe storage models is fueled by this aspect.
The North America market dominated the Global Cloud Native Storage Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $15.3 billion by 2028. The Europe market is experiencing a CAGR of 22% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 23.2% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Microsoft Corporation, IBM Corporation, Amazon Web Services, Inc. (Amazon.com, Inc.), Google LLC, Alibaba Group Holding Limited, VMware, Inc., Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Citrix Systems, Inc., Rackspace Technology, Inc., and Splunk, Inc.
By Deployment Type
By Organization Size
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