Global Cloud Native Development Market Overview 2033 : Forecasted Market Size And Growth Rate

"The Business Research Company recently released a comprehensive report on the Global Cloud Native Development Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, 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.

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Market Drivers and Trends:

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.

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.

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Major Key Players of the Market:

Amazon Inc., Alphabet Inc., Microsoft Corporation, Huawei Technologies Co. Ltd., International Business Machines Corporation, Oracle Corporation, SAP SE, NTT Data Corporation, Cognizant Technology Solutions Corporation, Infosys Limited, VMware Inc., Wipro Limited, Tech Mahindra Limited, Red Hat Inc., Nutanix Inc., Pivotal Software Inc., Alibaba Cloud, HashiCorp, GitLab Inc., SUSE Software Solutions , Samsung SDS Co. Ltd., DataStax Inc., Docker Inc., Puppet, Canonical Ltd., Neo4j Inc., Jenkins Software Foundation, Grafana Labs

Cloud Native Development Market 2024 Key Insights:

• The cloud native development market is expected to grow to $2065.64 billion in 2028 at a compound annual growth rate (CAGR) of 23.7%.
• The Surge in Cloud Computing Adoption Accelerates the Growth of the Market
• Increasing Focus on Introducing Advanced Serverless Computing Solutions For A Competitive Edge
• North America was the largest region in the cloud native development market in 2023

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