The global cloud native storage market was valued at USD 16.37 billion in 2023 and is projected to reach USD 65.04 billion by 2030, growing at a robust CAGR of 22.2% from 2024 to 2030. This strong growth highlights the increasing importance of cloud-native storage technologies in addressing the challenges of modern enterprise data management.

One of the primary growth drivers for this market is the rapid increase in data volume generated by enterprises. Businesses across diverse industries including finance, healthcare, retail, media, and manufacturing are producing vast amounts of data through sources such as IoT devices, social media interactions, digital transaction records, and connected business processes. Managing this ever expanding data requires scalable, efficient, and cost-effective storage solutions that can adapt to dynamic workloads. Cloud native storage technologies fulfill this demand by providing flexible, distributed, and resilient storage systems that can handle high data throughput while reducing infrastructure costs. Moreover, the rising emphasis on data-driven decision-making and advanced analytics further accelerates the adoption of these solutions, as organizations increasingly depend on real-time insights to gain a competitive edge.

Another significant factor driving market growth is the rising need for automation in application updates. In today’s fast-paced digital environment, enterprises are adopting continuous integration and continuous deployment (CI/CD) methodologies to release new features and updates quickly. Cloud-native storage plays a crucial role in supporting these practices by delivering automated, scalable, and reliable storage infrastructures that integrate seamlessly with modern application development pipelines. By automating routine storage operations, these solutions help reduce downtime, minimize human intervention, and ensure consistent performance across environments. This capability enables organizations to accelerate product launches, respond swiftly to customer demands, and maintain their competitive positioning in the market.

Key Market Trends & Insights:

• Regional Trends: North America dominated the global cloud native storage market in 2023, accounting for the largest revenue share of 37.8%, supported by the region’s advanced cloud infrastructure, early adoption of digital technologies, and presence of major cloud providers. The Asia Pacific market is expected to grow at the fastest CAGR of 24.8% from 2024 to 2030, driven by rapid digitalization, rising cloud adoption by enterprises and SMEs, and government-led initiatives supporting cloud-first strategies in countries like China, India, and Japan.
• By Component: The solutions segment held the largest share at 72.08% in 2023, as enterprises prioritize scalable and efficient storage platforms that can be customized for diverse applications. The services segment is expected to register significant growth during the forecast period, reflecting the increasing demand for consulting, deployment, and managed services to optimize cloud-native storage deployments.
• By Deployment: The public cloud segment led with a 71.0% revenue share in 2023, supported by its cost-effectiveness, scalability, and ease of deployment. The private cloud segment is projected to witness significant growth, as organizations with strict compliance and security requirements seek greater control over their storage environments.
• By Enterprise Size: Large enterprises dominated the market in 2023 with a 57.9% share, as they generate vast amounts of data that require robust storage infrastructures. These enterprises also lead investments in cloud-native technologies to enhance performance and efficiency. The SMEs segment is anticipated to grow at a significant CAGR, as smaller businesses increasingly adopt cloud-native storage solutions to achieve flexibility and cost savings without the burden of managing complex infrastructure.
• By End Use: The Banking, Financial Services, and Insurance (BFSI) sector held the largest market share of 18.5% in 2023, owing to the sector’s reliance on secure, high-performance storage solutions for handling large volumes of sensitive customer and transaction data. The media and entertainment segment is projected to witness substantial growth during the forecast period, fueled by rising demand for high-quality digital content, video streaming, and gaming, all of which generate massive data storage requirements.

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Market Size & Forecast:

• 2023 Market Size: USD 16.37 Billion
• 2030 Projected Market Size: USD 65.04 Billion
• CAGR (2024-2030): 22.2%
• North America: Largest market in 2023
• Asia Pacific: Fastest growing market

Key Players

• Alibaba Group Holding Limited
• Amazon Web Services, Inc.
• Broadcom
• Citrix Systems, Inc.
• Google LLC
• Huawei Technologies Co., Ltd.
• IBM Corporation
• Microsoft Corporation
• Rackspace Technology, Inc.
• Splunk, Inc.

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Conclusion:

The cloud native storage market is poised for strong growth as enterprises increasingly prioritize scalability, efficiency, and automation to manage rapidly growing data volumes. With the convergence of data-driven decision-making, CI/CD practices, and advanced cloud technologies, cloud-native storage is becoming a vital enabler of digital transformation across industries. While challenges around security, compliance, and integration persist, the overall outlook remains highly positive, with demand set to accelerate as organizations seek more agile and cost-effective storage solutions.