What Fueled The Previous Growth In The Multi Cloud Networking Market?
The multi cloud networking market has seen considerable growth due to a variety of factors.
• The scale of the multi-cloud networking market has witnessed significant expansion in the last few years. Its size is predicted to escalate from $4.76 billion in 2024 to $6.02 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 26.5%.
The growth experienced during the historic period could be traced back to factors such as cost optimization, scalability needs, business continuity and disaster recovery (BCDR), and adherence to regulations.
What Can Be Expected from the Multi Cloud Networking Market Size?
The multi cloud networking market is expected to maintain its strong growth trajectory in upcoming years.
• It is predicted that the multi-cloud networking market will experience substantial growth in the coming years, culminating at $15.38 billion in 2029 with a compound annual growth rate (CAGR) of 26.4%.
This growth in the forecast period could be credited to the wider adoption of hybrid cloud, advanced edge computing, increasing global reach, distributed workforces, security considerations, and digitization initiatives. The future prospect also highlights progressive steps towards hybrid cloud frameworks, enlarged edge computing ventures, distributed teams fuelling demand globally, an amplified emphasis on security practices, and acceleration in digital transformation strategies.
What Are the Critical Driver Fuelling The Multi Cloud Networking Market's Growth?
The multi-networking market's expansion is anticipated to be fueled by the growing utilization of cloud computing services. These are computing services delivered over the internet, encompassing aspects like servers, storage, databases, networking, software, analytics, and more, all on a pay-per-use model. Benefits such as cost-effectiveness, scalability, flexibility, collaboration and accessibility, security and trustworthiness, enhancement of innovative potential, and competitive edge are three reasons for the surge in cloud computing service acceptance. In a multi-cloud networking context, cloud computing services are used to harness the power of various cloud providers for redundancy, scalability, and effective workload management across varying environments. As reported by the Luxembourg-based government agency Eurostat in December 2023, there was a 4.2% increase in EU companies purchasing cloud computing services, primarily for email, file storage, and office software, compared to 2021, putting the figure at 42.5%. Therefore, the multi-networking market's growth is being fuelled by the heightened use of cloud computing services.
How Is The Multi Cloud Networking Market segmented?
The multi-cloud networking market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Deployment Type: Public Cloud, Private Cloud
3) By Organization Size: Small And Medium-Sized Enterprises, Large Enterprises
4) By Vertical: Information Technology And Information Technology Enabled Services, Banking, Financial Services, And insurance, Retail And eCommerce, Healthcare And Life Sciences, Transportation And Logistics, Manufacturing, Media And Entertainment, Energy And Utilities, Other Verticals
Subsegments:
1) By Solutions: Cloud Networking Solutions, Cloud Security Solutions, Cloud Management Solutions, Cloud Orchestration Solutions
2) By Services: Professional Services, Managed Services
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What New Trends Are Influencing The Multi Cloud Networking Market?
Leading firms in the multi-cloud networking market are introducing cutting-edge products like cross-cloud networks to gain market superiority. The term 'cross-cloud network' pertains to the network infrastructure and design that allows information and data sharing amidst resources extended over more than one cloud service provider, aiding interoperability, redundancy, and the equitable distribution of workloads across various cloud settings. For an example, in August 2023, Google LLC, an IT company based in the U.S, introduced its Cross-Cloud Network, a cloud networking platform developed to streamline connectivity amongst an array of cloud environments and on-site locations. This platform facilitates smooth cooperation across different cloud providers, presenting solutions for efficient distributed application development, speeding up delivery of applications facing the internet, and ensuring secure access for hybrid workforces.
Who Are the Key Players In The Multi Cloud Networking Market?
Major companies operating in the multi-cloud networking market report 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
What Is The Most Dominant Region In The Multi Cloud Networking Market?
North America was the largest region in the multi-cloud networking market in 2024. 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.
