Multi-Cloud Networking Market - Forecasts from 2023 to 2028

The multi-cloud networking market is projected to grow at a CAGR of 29.66% to reach US$1,449.37 million in 2028 from US$235.294 million in 2021.

The use of cloud services from numerous, diverse suppliers is known as multi-cloud networking. In addition to specialized platform-as-a-service, infrastructure-as-a-service, and software-as-a-service providers, this covers public cloud service providers like AWS, Google Cloud Platform, and Microsoft Azure. Multi-cloud employs a hybrid strategy, combining the finest features of several providers' services to provide a solution tailored to the unique requirements of each enterprise. This strategy prevents binary compatibility and ensures maximum flexibility while enabling enterprises to benefit from each vendor's most recent advancements. Although multi-cloud networking can be challenging, it offers a strong method for creating personalized, scalable, and highly available cloud architecture.

Organizations can employ numerous vendors for various workloads due to multi-cloud networking. Multi-cloud networking enables businesses to employ a variety of providers for various workloads as well as to modify their network depending on the company's requirements. By employing each platform's distinct characteristics, multi-cloud networking can assist to increase performance and lower expenses. Businesses rely on multi-cloud networking solutions with low latency and high throughput to secure optimal performance. With the help of multi-cloud networking, businesses may benefit from each platform's distinctive features while keeping their original network structure the same.

Market Drivers

The rising implementation of cloud systems and multi-cloud schemes across enterprises from various industry verticals due to the prompt need for higher-level management and regulation to be administered, and a significant increase in remote working due to the pandemic are the main factors propelling the growth of the multi-cloud networking market. In order to solidify their position in the market, and grow their business, market players have thus started to employ a variety of strategies, including product differentiation, the introduction of new products as well as securing investments to expand and enhance their services. For instance, Forward Networks, an American software company, announced in January 2023 that it had obtained US$50 million in Series D funding, allowing it to progress in making investments in its digital twin network modeling software, which provides protection, consistency, and flexibility to big corporate systems. MSD Partners, L.P. served as the lead investor in the investment round, which also included other previous investors as well as newcomers Section 32 and Omega Venture Partners. Forward Enterprise offers practical analytics that helps network operators to make data-driven decisions, avoid mistakes, and enhance overall system integrity, adherence, and stability by building a mathematically precise virtual model of the network. The platform supports hybrid and multi-cloud systems from all of the main networking vendors like Google Cloud Platform, and Microsoft Azure.

Recent Developments

• In February 2023, as part of their partnership, InsidePacket, Inc., a provider of end-to-end networking solutions integrating distributed workloads across private deployments and public clouds, and Equinix, Inc., a global provider of digital infrastructure, launched their Multi-cloud Network on Equinix Metal. The alliance aims to offer businesses a worldwide hyper-scale network with high performance and low latency connection, built on Equinix's backbone. InsidePacket MCN offers inline traffic filtering, multi-vendor CTI feed threat protection, FQDN filtering, and unified network segmentation. The combined solution enables businesses to quickly connect to and manage their office, BMaaS, external cloud, and SaaS facilities via an easily accessible MCN site.
• In January 2023, Cloudian reported that it had closed US$60 million in new funding, increasing the total amount raised by the business to US$233 million. Wilson Sonsini Investments, Digital Alpha, Japan Post Investment Corporation, and other strategic investors participated in the round. The investment strengthened Cloudian's position as a market leader by enhancing the capabilities of its hybrid cloud platform and setting it up for its upcoming growth phase. According to the company, users can streamline operations and take advantage of new opportunities to extract value from data due to Cloudian's cloud-native data management software. Any computing platform, including traditional servers, virtual machines, containers, and public clouds, may be transformed into a pool of S3 API-compatible cloud hosting services that are able to co-locate with information inputs and data users by using Cloudian's hybrid cloud data management software.

Based on the industry vertical, the multi-cloud networking market is expected to witness positive growth in the retail sector.

Retailers can use cloud networking as a service to establish safe multi-cloud/multi-region retail operations for their clients and improve user service by maintaining flexible and effective supply chains. Retailers may dynamically adjust in-store and web prices depending on such knowledge with the aid of multi-cloud networking solutions, eliminating the need for data specialists to accomplish this task manually. Additionally, it can offer retailers a number of benefits, such as the ability to monitor and track the inventory as well as access real-time data about their inventory levels.

Europe and North America are expected to hold sizable portions of the multi-cloud networking market.

Based on geography, the Multi-cloud networking market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. Europe accounts for a sizeable share of the multi-cloud networking industry because of the developed internet, stable economic infrastructure, and increased demand for cloud services from businesses. Due to the broad business need in these nations as well as the presence of businesses with technical knowledge, nations like the United Kingdom and Germany are anticipated to experience significant growth. The market for multi-cloud networking in Europe is anticipated to develop as a result of the Internet of Things (IoT) and rising customer expectations. The rising demand for various cloud services has benefited this industry, leading to several major cloud network companies like Microsoft and Oracle creating network facilities throughout Europe. North America, especially, the USA is also expected to account for a significant portion of the multi-cloud networking market since many key firms like Microsoft, Google, and IBM have their headquarters in the region.

Market Segmentation

By Deployment

• Public Cloud
• Private Cloud

By Enterprise Size

• Small and Medium
• Large

By Industry Vertical

• BFSI
• Healthcare
• Retail
• IT and Telecom
• Manufacturing
• Others

By Geography

• North America
  • USA
  • Canada
  • Mexico
• South America
  • Brazil
  • Argentina
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Spain
  • Others
• Middle East And Africa
  • Saudi Arabia
  • UAE
  • Israel
  • Other
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Taiwan
  • Others