The Cloud Native Development Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Cloud Native Development Global Market Report 2024, The cloud native development market size has grown exponentially in recent years. It will grow from $708.56 billion in 2023 to $881.98 billion in 2024 at a compound annual growth rate (CAGR) of 24.5%. The growth in the historic period can be attributed to agile development practices, microservices architecture, devops culture, scalability requirements, cost efficiency.
The cloud native development market size is expected to see exponential growth in the next few years. It will grow to $2065.64 billion in 2028 at a compound annual growth rate (CAGR) of 23.7%. The growth in the forecast period can be attributed to serverless computing, open source contributions, edge computing integration, ai and machine learning integration, enhanced security measures. Major trends in the forecast period include continuous innovation, hybrid and multi-cloud deployments, low-code/no-code platforms, containerization technology, kubernetes orchestration, containerization growth.
The growing adoption of cloud computing is expected to propel the growth of the cloud-native development market going forward. Cloud computing refers to the delivery of various computing services, including but not limited to storage, processing power, databases, networking, and software applications, over the internet. Cloud computing uses cloud-native development to maximize the efficiency, scalability, and flexibility of applications. For instance, in July 2023, according to International Data Corporation, a US-based information technology company, global revenue from public cloud services reached $545.8 billion in 2022, marking a substantial growth of 22.9% compared to 2021. Therefore, the growing adoption of cloud computing is driving the growth of the cloud native development market.
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The cloud native development market covered in this report is segmented –
1) By Type: Solution, Service
2) By Deployment Model: Private Cloud, Hybrid Cloud, Multi-CIoud
3) By Organization Size: Small and Medium-sized Enterprises (SMEs), Large Enterprises
4) By End-User: Banking, Financial Services, and Insurance (BFSI), Healthcare, Government, Other End Users
Major companies operating in the cloud native development market are developing innovative solutions, such as advanced serverless solutions, to gain a competitive edge in the market. Serverless computing is a cloud computing model in which cloud providers dynamically manage the infrastructure required to run applications. For instance, in May 2022, DigitalOcean Holdings Inc., a US-based software company, launched DigitalOcean Functions, a serverless solution aimed at providing developers, startups, and small businesses with a fast, scalable, and cost-effective way to build applications without the need to manage cloud infrastructure. With DigitalOcean Functions, developers can focus on creating and scaling software without the hassle of provisioning and maintaining servers. The solution allows applications to automatically scale based on demand, making it ideal for unpredictable workloads. This offering responds to the growing demand for serverless functions, with a unified and integrated experience, developer console for testing, and seamless integration with DigitalOcean Managed Databases.
The cloud native development market report table of contents includes:
1. Executive Summary
2.Cloud Native Development Market Characteristics
3.Cloud Native Development Market Trends And Strategies
4.Cloud Native Development Market analysis
5.Cloud Native Development Market Size And Growth
6.Cloud Native Development Segmentation
7.Cloud Native Development Regional And Country Analysis
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27.Cloud Native Development Competitive Landscape And Company Profiles
28.Cloud Native Development Key Mergers And Acquisitions
29.Cloud Native Development Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Amazon Inc.
- Alphabet Inc.
- Microsoft Corporation
- Huawei Technologies Co. Ltd.
- International Business Machines Corporation
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