PUBLISHER: The Business Research Company | PRODUCT CODE: 1499887
PUBLISHER: The Business Research Company | PRODUCT CODE: 1499887
Multi-cloud networking involves the practice of integrating multiple cloud computing environments, provided by different cloud service providers (CSPs), into a unified network infrastructure. This approach enables organizations to capitalize on the strengths and services offered by various cloud providers while retaining control, flexibility, and resilience over their cloud infrastructure and applications.
The primary components of multi-cloud networking consist of solutions and services. Multi-cloud networking solutions encompass a range of technologies and services tailored to facilitate the connection and management of multiple cloud environments concurrently. These solutions are deployed across public and private cloud infrastructures, catering to organizations of varying sizes across sectors such as small and medium-sized enterprises, large enterprises in information technology and IT-enabled services, banking and financial services, insurance, retail and e-commerce, healthcare and life sciences, transportation and logistics, manufacturing, media and entertainment, energy and utilities, and other verticals.
The multi-cloud networking market research report is one of a series of new reports from The Business Research Company that provides multi-cloud networking market statistics, including multi-cloud networking industry global market size, regional shares, competitors with a multi-cloud networking market share, detailed multi-cloud networking market segments, market trends and opportunities, and any further data you may need to thrive in the multi-cloud networking industry. This multi-cloud networking market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The multi-cloud networking market size has grown exponentially in recent years. It will grow from $3.77 billion in 2023 to $4.76 billion in 2024 at a compound annual growth rate (CAGR) of 26.1%. The expansion observed in the historical period can be attributed to several factors, including the pursuit of cost optimization, meeting scalability requirements, ensuring business continuity and disaster recovery (BCDR), and compliance with regulatory standards.
The multi-cloud networking market size is expected to see exponential growth in the next few years. It will grow to $12.17 billion in 2028 at a compound annual growth rate (CAGR) of 26.5%. The projected growth in the forecast period can be attributed to several factors, including the increasing adoption of hybrid cloud architectures, the expansion of edge computing initiatives, the globalization of businesses and distributed workforces, rising concerns regarding cybersecurity, and the acceleration of digital transformation initiatives. Major trends anticipated in the forecast period include the increased adoption of hybrid cloud architectures, the expansion of edge computing initiatives, the demand driven by globalization and distributed workforces, a heightened focus on cybersecurity measures, and an acceleration of digital transformation initiatives.
The projected increase in the adoption of cloud computing services is expected to drive the growth of the multi-networking market in the foreseeable future. Cloud computing services encompass a range of computing resources, such as servers, storage, databases, and software, delivered over the internet on a pay-as-you-go basis. The rising adoption of these services is attributed to various factors, including cost efficiency, scalability, accessibility, security, and the potential for innovation and competitive advantage. Multi-cloud networking utilizes cloud computing services to harness the strengths of multiple cloud providers, offering redundancy, scalability, and workload optimization across diverse environments. For instance, an article published by Eurostat in December 2021 reported that 41% of organizations utilized cloud computing services in 2021, marking a 5.0 percentage-point increase from 2020. Therefore, the growing adoption of cloud computing services is a key driver of the multi-networking market's expansion.
Leading companies in the multi-cloud networking market are actively developing innovative solutions, such as cross-cloud networks, to enhance their competitiveness. Cross-cloud networks enable seamless communication and data exchange between resources deployed across multiple cloud service providers, facilitating interoperability, redundancy, and workload distribution across diverse cloud environments. For example, in August 2023, Google LLC launched its Cross-Cloud Network, a cloud networking platform designed to simplify connectivity between various cloud environments and on-premises locations. This platform enables efficient collaboration across multiple cloud providers, offering solutions for building distributed applications, accelerating internet-facing application delivery, and providing secure access for hybrid workforces.
In March 2024, Cloudflare Inc. acquired Nefeli Networks to strengthen its multi-cloud networking capabilities. This acquisition enhances Cloudflare's ability to manage network and security functions across diverse cloud environments, resulting in improved operational efficiency, cost reduction, and unified security and visibility for customers. Nefeli Networks specializes in developing software for managing and operating large networks.
Major companies operating in the multi-cloud networking market are Cisco Systems Inc., Oracle Corporation, Hewlett Packard Enterprise Development LP, VMware Inc., Palo Alto Networks Inc., Juniper Networks Inc., Fortinet Inc., Arista Networks Inc., Akamai Technologies, Citrix Systems Inc., F5 Inc., Nutanix, Array Networks, Extreme Networks Inc., Zscaler Inc., Cloudflare Inc., Riverbed Technology, Barracuda Networks Inc., Masergy Communications Inc., A10 Networks Inc., Imperva Inc., Versa Networks Inc., Silver Peak Systems Inc., Avi Networks, Kemp Technologies
North America was the largest region in the multi-cloud networking market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the multi-cloud networking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the multi-cloud networking market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The multi-cloud networking market includes revenues earned by entities by providing services including cloud interconnect services, load balancing services, security services, migration and integration services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Multi-Cloud Networking Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on multi-cloud networking market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for multi-cloud networking? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The multi-cloud networking market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.