The multi-cloud networking global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Multi-Cloud Networking Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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 growth in the historic period can be attributed to cost optimization, scalability requirements, business continuity and disaster recovery (BCDR), and regulatory compliance.
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 growth in the forecast period can be attributed to hybrid cloud adoption, edge computing expansion, globalization and distributed workforces, cybersecurity concerns, digital transformation initiatives. Major trends in the forecast period include increased adoption of hybrid cloud architectures, expansion of edge computing initiatives, globalization and distributed workforces driving demand, heightened focus on cybersecurity measures, acceleration of digital transformation initiatives.
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Scope Of Multi-Cloud Networking Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Multi-Cloud Networking Market Overview
Market Drivers –
The rising adoption of cloud computing services is expected to propel the growth of the multi-networking market going forward. Cloud computing services refer to delivering computing services, including servers, storage, databases, networking, software, analytics, and more, over the internet (the cloud) on a pay-as-you-go basis. The adoption of cloud computing services is increasing due to cost efficiency, scalability and flexibility, accessibility and collaboration, security and reliability, and the opportunity for innovation and competitive advantage. Cloud computing services in multi-cloud networking are utilized to leverage the strengths of multiple cloud providers for redundancy, scalability, and workload optimization across diverse environments. For instance, in December 2021, according to an article published by Eurostat, a Luxembourg-based statistics body for the European Union, 41% of organizations reported using cloud computing services in 2021, a 5.0 percentage-point (pp) rise from 36% in 2020. Therefore, the rising adoption of cloud computing services is driving the growth of the multi-networking market.
Market Trends –
Major companies operating in the multi-cloud networking market are developing innovative products, such as cross-cloud networks, to gain a competitive edge in the market. Cross-cloud network refers to the networking infrastructure and architecture that enables communication and data exchange between resources deployed across multiple cloud service providers, facilitating interoperability, redundancy, and workload distribution across diverse cloud environments. For instance, in August 2023, Google LLC, a US-based information technology company, launched its Cross-Cloud Network, a cloud networking platform designed to simplify connectivity between various cloud environments and on-premises locations. This platform enables seamless collaboration across multiple cloud providers, offering solutions for building distributed applications efficiently, accelerating internet-facing application delivery, and providing secure access for hybrid workforces.
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
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Regional Insights –
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.
Key Companies –
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
Table of Contents
1. Executive Summary
2. Multi-Cloud Networking Market Report Structure
3. Multi-Cloud Networking Market Trends And Strategies
4. Multi-Cloud Networking Market – Macro Economic Scenario
5. Global Multi-Cloud Networking Market Size and Growth
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32. Global Multi-Cloud Networking Market Competitive Benchmarking
33. Global Multi-Cloud Networking Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Multi-Cloud Networking Market
35. Multi-Cloud Networking Market Future Outlook and Potential Analysis
36. Appendix
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