Global Cloud Native Applications Market Report 2023: Ease in Carrying Out Business Globally with Aid of Cloud Native Applications Boosts Adoption
DUBLIN, April 12, 2023 /PRNewswire/ -- The "Global Cloud Native Applications Market by Component (Platforms and Services), Deployment Mode, Organization Size, Vertical (BFSI, Healthcare & Life Sciences, and IT & Telecom) and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The CNA 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.
Market Dynamics
Drivers
- Cloud Native Development Helps Get Apps to Market Swiftly
- Ease in Carrying Out Business Globally with Aid of Cloud Native Applications
- Significant Reduction in Vendor Lock-Ins
- Real-Time Analytics and Guidelines Compliance
Restraints
- Cost Overrun to be Limiting Factor
- Replacing New Developments with Traditional Practices
- Organizational Shift Required Across Teams
Opportunities
- Better Reliability in Terms of It Infrastructure
- Proliferation of Kubernetes and Containerization
Challenges
- Managing and Governing Development Workflow
- Security Threats Vis-A-Vis Data Breach
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Cloud Native Applications Market, by Component
6.1 Introduction
6.2 Platforms
6.3 Services
7 Cloud Native Applications Market, by Deployment Type
7.1 Introduction
7.2 Public Cloud
7.3 Private Cloud
8 Cloud Native Applications Market, by Organization Size
8.1 Introduction
8.2 Small and Medium-Sized Enterprises
8.3 Large Enterprises
9 Cloud Native Applications Market, by Vertical
9.1 Introduction
9.2 Banking, Financial Services, and Insurance
9.3 It & Telecommunication
9.4 Government & Public Sector
9.5 Retail & Ecommerce
9.6 Healthcare & Life Sciences
9.7 Manufacturing
9.8 Other Verticals
10 Cloud Native Applications Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Adjacent & Related Markets
14 Appendix
Companies Mentioned
- Alibaba Cloud
- Amazon
- Apexon (Formerly Infostretch)
- Bacancy Technology
- Citrix
- Cognizant
- Ekco
- Harness
- Huawei
- Ibm
- Infosys
- Ltimindtree
- Microsoft
- Oracle
- R Systems
- Red Hat
- Sap
- Scality
- Sciencesoft
- Vmware
For more information about this report visit https://www.researchandmarkets.com/r/e062vv
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