Multi-cloud networking is the practice of using cloud services from multiple, heterogeneous providers. This includes public cloud providers like AWS, Google Cloud Platform, or Microsoft Azure, as well as specialized platform-as-a-service, infrastructure-as-a-service or software-as-a-service providers. Multi-cloud is not the same as hybrid cloud, which blends the use of private and public cloud environments. Rather, multi-cloud takes a mixed approach, using the best services from various providers to create a custom solution for an organization’s specific needs. This approach allows organizations to take advantage of the latest innovations from each vendor while avoiding vendor lock-in and ensuring maximum flexibility. Multi-cloud networking can be complex, but it provides a powerful way to build a custom, scalable and highly-available cloud infrastructure.
Factors such as increase in adoption of multi-cloud networking solutions and services and rise in demand for data recovery along with contingency planning are driving the multi-cloud networking market growth during the forecast period. Moreover, increase in adoption of cloud computing and rise in internet penetration boost the growth of the market. However, concerns associated with data security and privacy protection and lack of technical expertise in multi-cloud networking are restraining the market growth. On the contrary, surge in demand for cloud-based networking solutions and rise in number of SMEs are projected to provide major lucrative opportunities for the growth of the multi-cloud networking market.
The multi-cloud networking market is segmented on the basis of component, deployment mode, enterprise size, and industry vertical. By component, it is segmented into solution and services. On the basis of deployment mode, the market is segmented into private cloud and public cloud. By enterprise size, it is bifurcated into larger enterprise and small & medium enterprise. By industry vertical, it is segmented into BFSI, IT & telecom, retail & e-commerce, healthcare, manufacturing, media & entertainment, energy & utilities, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the multi-cloud networking market such as Akamai Technologies, Cisco Systems, Inc., Citrix Systems, Inc., Cloudflare, Inc., F5, Inc., Hewlett Packard Enterprise Development LP, Juniper Networks, Inc., Nutanix, Oracle, and VMware, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the multi-cloud networking market share.
Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global multi-cloud networking market for the period 2021-2031 is provided to determine the market potential.
Factors such as increase in adoption of multi-cloud networking solutions and services and rise in demand for data recovery along with contingency planning are driving the multi-cloud networking market growth during the forecast period. Moreover, increase in adoption of cloud computing and rise in internet penetration boost the growth of the market. However, concerns associated with data security and privacy protection and lack of technical expertise in multi-cloud networking are restraining the market growth. On the contrary, surge in demand for cloud-based networking solutions and rise in number of SMEs are projected to provide major lucrative opportunities for the growth of the multi-cloud networking market.
The multi-cloud networking market is segmented on the basis of component, deployment mode, enterprise size, and industry vertical. By component, it is segmented into solution and services. On the basis of deployment mode, the market is segmented into private cloud and public cloud. By enterprise size, it is bifurcated into larger enterprise and small & medium enterprise. By industry vertical, it is segmented into BFSI, IT & telecom, retail & e-commerce, healthcare, manufacturing, media & entertainment, energy & utilities, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the multi-cloud networking market such as Akamai Technologies, Cisco Systems, Inc., Citrix Systems, Inc., Cloudflare, Inc., F5, Inc., Hewlett Packard Enterprise Development LP, Juniper Networks, Inc., Nutanix, Oracle, and VMware, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the multi-cloud networking market share.
Key Benefits For Stakeholders
The study provides an in-depth analysis of the global multi-cloud networking market along with the current trends and future estimations to elucidate the imminent investment pockets.Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global multi-cloud networking market for the period 2021-2031 is provided to determine the market potential.
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Key Market Segments
By Component
- Solution
- Services
By Enterprise Size
- Large Enterprise
- Small and Medium Enterprise
By Deployment Mode
- Public Cloud
- Private Cloud
By Industry Vertical
- BFSI
- IT and Telecom
- Retail and E-Commerce
- Healthcare
- Manufacturing
- Energy and Utilities
- Media and Entertainment
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Key Market Players
- Juniper Networks, Inc.
- VMware, Inc.
- Cisco Systems, Inc.
- Oracle
- Nutanix
- Cloudflare, Inc.
- F5, Inc.
- akamai technologies
- Citrix Systems, Inc.
- Hewlett Packard Enterprise Development LP
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MULTI-CLOUD NETWORKING MARKET, BY COMPONENT
CHAPTER 5: MULTI-CLOUD NETWORKING MARKET, BY DEPLOYMENT MODE
CHAPTER 6: MULTI-CLOUD NETWORKING MARKET, BY ENTERPRISE SIZE
CHAPTER 7: MULTI-CLOUD NETWORKING MARKET, BY INDUSTRY VERTICAL
CHAPTER 8: MULTI-CLOUD NETWORKING MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the multi-cloud networking market was valued at $2.5 billion in 2021, and is estimated to reach $19.9 billion by 2031, growing at a CAGR of 23.3% from 2022 to 2031.The Multi-Cloud Networking Market is likely to experience a significant growth rate of 23.3% from 2022-2031 owing to increasing market demand from the IT & Telecom sector and rise in demand for efficient multi-cloud networking.
Multi-cloud networking is the practice of using cloud services from multiple, heterogeneous providers. This includes public cloud providers like AWS, Google Cloud Platform, or Microsoft Azure, as well as specialized platform-as-a-service, infrastructure-as-a-service or software-as-a-service providers. Multi-cloud is not the same as hybrid cloud, which blends the use of private and public cloud environments. Rather, multi-cloud takes a mixed approach, using the best services from various providers to create a custom solution for an organization’s specific needs. This approach allows organizations to take advantage of the latest innovations from each vendor while avoiding vendor lock-in and ensuring maximum flexibility. Multi-cloud networking can be complex, but it provides a powerful way to build a custom, scalable and highly-available cloud infrastructure.
Need for disaster recovery and contingency plan, the increasing deployment of IaaS, PaaS, SaaS and increasing deployment of cloud service providers (CSPs) are the major growth factor for the multi-cloud networking market. However, limited technical expertise among enterprises and complexity in redesigning the network for cloud are major factors hampering the growth of the market. On the contrary, a rise in the number of SMEs for using multi-cloud networking presents lucrative opportunities for the market's growth in the upcoming years.
Moreover, with an increase in competition, major market players have started acquiring companies to expand their market penetration and reach. For instance, in December 2,020 IBM acquired Expertus Technologies Inc to strengthen IBM Payments Centre capability in Canada and add further value to clients and the financial services industry.
The COVID-19 pandemic has played a key role in increasing the demand for multi-cloud networking solutions. The outbreak of the pandemic and the subsequent government restrictions have increased the demand for the latest advanced digital technologies and robust networks. Realizing that choosing a cloud-based infrastructure gives them an edge over their competitors, organizations are increasingly moving their workloads to the cloud, thereby increasing the demand for multi-cloud networking solutions. So, COVID-19 had positive impact on the multi-cloud networking market. Furthermore, DaaS had also witnessed demand from SMEs as it provides all the related services under a single contract to a customer with monthly subscription fees, thereby helping enterprises to minimize their IT expenses, particularly for IT hardware infrastructure. Thus, these were the frameworks for the market challenges faced by device-as-a-service providers.
The multi-cloud networking market is segmented on the basis of component, deployment mode, enterprise size, industry vertical and region. By component, it is segmented into solution and services. On the basis of deployment mode, the market is segmented into private cloud and public cloud. By enterprise size, it is bifurcated into larger enterprise and small & medium enterprise. By industry vertical, it is segmented into BFSI, IT & telecom, retail & e-commerce, healthcare, manufacturing, media & entertainment, energy & utilities, and others. Region wise, it is analyzed across North America (the U.S., and Canada), Europe (the UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).
The key players profiled in the study include Accenture, Apple Inc., Cisco Systems Inc., Cognizant, CompuCom Systems, Inc., Dell Inc., Hewlett Packard Enterprise Development LP, Intel Corporation, Lenovo, and Microsoft. The players in the market have been actively engaged in the adoption various strategies such as acquisition, product launch and partnership to remain competitive and gain advantage over the competitors in the market. For instance, in April 2021, Lenovo Infrastructure Solutions Group (ISG) and Nutanix announce an as-a-Service solution for hosted desktops to help IT decision-makers thrive in the new remote hybrid workforce model.
Key Market Insights
By component, the solution segment was the highest revenue contributor to the market, and is estimated to reach $11.55 billion by 2031, with a CAGR of 22.2%. However, the services segment is estimated to be the fastest growing segment with the CAGR of 25.0% during the forecast period.By deployment mode, the public cloud segment was the highest revenue contributor to the market, and is estimated to reach $11.25 billion by 2031, with a CAGR of 21.3%.
By enterprise size, the large enterprise segment was the highest revenue contributor to the market, and is estimated to reach $11.40 billion by 2031, with a CAGR of 21.8%.
By industry vertical, the IT & telecom segment dominated the global market, and is estimated to reach $3.47 billion by 2031, with a CAGR of 18.1%. However, the healthcare segment is expected to be the fastest growing segment during the Multi-cloud networking market forecast.
Based on region, North America was the highest revenue contributor, accounting for $ 918.38 million in 2021, and is estimated to reach $5.72 billion by 2031, with a CAGR of 20.3%.
Companies Mentioned
- Juniper Networks, Inc.
- VMware, Inc.
- Cisco Systems, Inc.
- Oracle
- Nutanix
- Cloudflare, Inc.
- F5, Inc.
- akamai technologies
- Citrix Systems, Inc.
- Hewlett Packard Enterprise Development LP
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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