Bharat Book Bureau Provides the Trending Market Research Report on “Cloud Native Applications Market by Component (Platforms and Services), Deployment Mode, Organization Size, Vertical (BFSI, Healthcare & Life Sciences, and IT & Telecom) and Region - Global Forecast to 2028” under the Services Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence, and Market reports.
The Cloud Native Applications Market size is expected to grow from USD 5.9 billion in 2023 to USD 17.0 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 23.7% during the forecast period. Open-source platforms such as the popular Kubernetes provide developers with a framework to run distributed systems resiliently. It manages scaling and failover for the application, provides deployment patterns, and many more. Open-source managed services (OSMS) have also become a key part of the cloud native app development ecosystem.
Services and tools are required to provide app developers and businesses with various ways to take advantage of the cloud and open-source software. For instance, the Kubernetes website lists over 200 ‘certified service providers’ who integrate with their open-source platform. OSMS providers make the configuration, monitoring, and management of cloud native apps easier, nimble, more predictable, and more reliable. OSMS providers largely focus on businesses that don’t have the limitless development resources of companies such as IBM, Amazon, and Google.
Public cloud segment to have a larger market size during the forecast period
Public cloud includes a platform being managed by a third party, and operated over the internet. It uses the standard cloud computing model to avail resources and services to remote users worldwide. Public cloud services can be used for free or be provided through subscription-based or on-demand pricing schemes, including the pay-per-usage/pay-as-you-go model.
The crucial benefits of the public cloud include a decreased requirement for organizations to invest in maintaining their on-premises IT resources and infrastructure; scalability to meet workload and user demands; and fewer redundant resources owing to customer’s payment with the pay-per-usage model. The public cloud providers offer the infrastructure needed to host and deploy workloads in the cloud. Tools and services help customers manage cloud applications, including data storage, security, and monitoring and reporting capabilities.
Healthcare and life sciences vertical to exhibit significant growth during the forecast period
The cloud native applications for the healthcare and life science vertical offer dependable, comprehensive features that make it simpler to enhance and efficiently manage the entire healthcare experience. It also provides clients in the healthcare sector with an open, secure, and enterprise-grade environment to support workloads, prevent downtime, regardless of their stage in the migration to the cloud or their workload environment.
By adopting cloud native applications solutions, this industry can enhance patient engagement, improve health data insights, effective management of physical infrastructure management burden, secure health information, improve patient experience, enhance privacy, empower health team collaboration, cost-efficiency, flexibility and reliability, and boost productivity with accurate virtual capabilities (diagnosing).
The cloud native applications for life sciences lower obstacles to innovation by offering a selected set of solutions that have been curatively created to assist businesses in developing, testing, manufacturing, and selling treatments swiftly and effectively while adhering to the strictest security and compliance standard. This improves the healthcare and life sciences professionals’ access to the most recent medical data and allows them to choose wisely and expedite the demand to achieve desired outcomes.
Asia Pacific to hold the highest CAGR during the forecast period
Asia Pacific experiences considerable cloud native spending owing to the ever-growing cloud computing traffic landscape of the region. The countries in the Asia Pacific region are home to many emerging and growing SMEs. According to the Asia Pacific Economic Cooperation, SMEs are the catalysts of growth in the Asia Pacific region. They account for slightly over 87% of all operational businesses and employ over half of the workforce in the region. SMEs are increasingly adopting cloud computing to increase their operational efficiency, and cloud native applications is an integral part of it.
During the pandemic, cloud technology has supported global supply chains and remote working. It assists organizations in the region, enabling scalability, business continuity along with improvement, and reduced costs with vendors working significantly to facilitate zero downtime. Cloud native applications have emerged as a foundational infrastructure for building scalable, digitally enabled infrastructure and solutions for firms.
Multinational cloud platforms, such as Alibaba Cloud, AWS, Google Cloud, and domestic cloud computing companies across the Asia Pacific, have ramped up their capacities as well as capabilities and diversified their service offerings to support businesses and enable a new generation of startup companies. Regional governments and organizations are taking up several initiatives related to cloud-based solutions. Organizations in this region are also increasingly focusing on increasing the customer experiences of their clients with enhanced security and application protection.
Further, in-depth interviews were conducted with the Chief Executive Officers (CEOs), Chief Marketing Officers (CMO), Chief Technology Officers (CTOs), Chief Operating Officers (COOs), Vice Presidents (VPs), Managing Directors (MDs), technology and innovation directors, and related key executives from various key companies and organizations operating in the Cloud native applications market.
§By Company – Tier 1–45%, Tier 2–30%, and Tier 3–25%
§By Designation – C-Level–40%, Director Level–35%, and Others–25%
§By Region – North America–40%, Europe–25%, Asia Pacific–25%, RoW – 10%
Cloud native applications vendors include Amazon.com, Inc. (Amazon, US), Google LLC (Google, US), International Business Machines Corporation (IBM, US), Infosys Technologies Private Limited (Infosys, India), Larsen & Toubro Infotech (LTI, India), Microsoft Corporation (Microsoft, US), Oracle Corporation (Oracle, US), Red Hat (US), SAP SE (SAP, Germany), VMware (US), Alibaba Cloud (Singapore), Apexon (US), Bacancy Technology (India), Citrix Systems, Inc. (Citrix, US), Harness (US), Cognizant Technology Solutions Corp (Cognizant, US), Ekco (Ireland), Huawei Technologies Co. Ltd. (Huawei, China), R Systems (US), Scality (US), and Sciencesoft (US). The study includes an in-depth competitive analysis of these key players in the Cloud native applications market with their company profiles, recent developments, and key market strategies.
Research Coverage
The research study covered inputs, insights, trends, happenings, from secondary sources, primary sources, stakeholders’ interviews and surveys. Secondary sources include information from databases and repositories such as D&B Hoovers, Bloomberg, Factiva, CoinDesk, among others. Primary data was fetched from supply-side industry experts who hold the chair of Chief Executive Officer (CEO), Chief Technological Officer (CTO), Chief Operating Officer (COO), Vice-President (VP) of IT, and Managing Director (MD), among others. Few of our key primary respondents are IBM, Microsoft, and Oracle, among others. Few startups are also included during our primary interviews. Additionally, we have taken the information and statistical and historical data from a few government associations, public sources, webinar and seminar transcripts, journals, conferences and events.
Reasons to buy this report:
The report will act as a guide for the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Cloud native applications market and associated subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better, improvise and revamp their offerings vis-à-vis ever-changing customer requirements with customizations, and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities. The report provisions significant and business development-focused data for the readers with strategic inputs/insights via numerous charts, and closest figures of forecast, to help readers design their blueprint to outgrow peers’ current offerings, maintain and enhance market sustainability,
The report provides insights on the following pointers
•Analysis of key drivers (Significant reduction in vendor lock-ins, real-time analytics provisioning and guidelines compliance, getting apps-to-market or time-to-market swiftly and efficiently), restraints (cost overrun being a limiting factor, replacement of new practices with traditional ones), opportunities (better reliability with respect to IT infrastructure), and challenges (management and governance of development workflow) influencing the growth of the cloud native applications market
•Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Cloud native applications market
•Market Development: Comprehensive information about lucrative markets – the report analyses the Cloud native applications market across varied regions
•Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Cloud native applications market
•Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like include IBM (US), Amazon(US), Google (US), Microsoft (US), Oracle (US), Red Hat (US), SAP (Germany), VMware (US), LTI (India), among others in the Cloud native applications market strategies. The report also helps stakeholders understand the competitive analysis by these market players.
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