MarketsandMarkets forecasts the global Multi-Cloud Networking Market to grow from USD 2.7 billion in 2022 to USD 7.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 22.5% during the forecast period. The major factors driving the growth of the Multi-Cloud Networking market include increasing penetration of mobile devices, increased remote working, more dynamism the compute and storage needs are, the more important and beneficial it is to configure resources easily, operational efficiency, application proliferation for organizations to pursue a multi cloud strategy, and growing demand for cloud usage.
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Large Enterprises segment to hold the highest market size during the forecast period
Organizations with more than 1,000 employees are categorized as large enterprises. The traction of Multi-Cloud Networking in large enterprises is said to be higher than SMEs, as they are adopting Multi-Cloud Networking solutions, services to improve business operational efficiency across geographies.
The increasing deployment of CSPs, IaaS, PaaS, SaaS offerings such as customer relationship management, human capital management, enterprise resource management, and other financial applications creates an advantageous environment for cloud monitoring adoption, particularly in large organizations, improve the overall cloud system, improve the cloud monitoring, and sustain themselves in intense competition. Organizations across the globe are going digital in every aspect of business operation and organization structure. A company can save money while increasing its productivity by keeping its IT infrastructure constantly monitored by a dedicated party, while still focusing on its core productive areas. Thus, managed services would enable large enterprises to set themselves free from any operational failure, maintenance, and infrastructure breakdown.
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Major Multi-Cloud Networking vendors include VMware (US), Oracle (US), F5 (US), HPE (US), Cisco (US), Nutanix (US), Cloudflare (US), Juniper Networks (US), Citrix (US), Versa networks (US), Illumio (US), Akamai (US), Alkira (US), Aviatrix (US), Arista (US), Aryaka (US), Nefeli networks (US), Volterra (US), Prosimo (US), Infoblox (US). These market players have adopted various growth strategies, such as partnerships, agreements, and collaborations, and new product enhancements to expand their presence in the Multi-Cloud Networking market. Product enhancements and collaborations have been the most adopted strategies by major players from 2019 to 2022, which helped companies innovate their offerings and broaden their customer base.
A prominent player in the Multi-Cloud Networking market, VMware enables enterprises to install different cloud models to improve day-to-day business operations. It serves more than 500,000 customers, 75,000 partners, and 120 locations across the world. The company’s core product includes data center and cloud infrastructure, networking and security, storage and availability, hyper-converged infrastructure, CMP, personal desktop, digital workspace, desktop and application virtualization, and enterprise mobility management. The company offers flexible, easy-to-install, and agile products and services to SMEs and large enterprises. VMware offers a robust multi-cloud management platform known as VMware vRealize Suite. It offers enhanced features, including speedy IT service delivery, automation, improved IT operations, and control across multi-cloud environments. Moreover, the company offers the VMware vRealize Network Insight solution that enables customers to build an optimized, highly available and secure infrastructure across multi-cloud environments. It caters to a wide range of verticals, such as automotive, education, financial services, government, healthcare, manufacturing, retail, and telecommunications.
Hewlett Packard Enterprise (HPE) is a global provider of software, networking products, and solutions to end users that range from small business startups to global leading enterprises. It has a wide range of product offerings and solutions, categorized into data storage, servers and systems, networking, and software solutions. HPE Storage is transforming the customer experience with cloud data services and storage-as-a-service through the HPE GreenLake edge-to-cloud platform and data infrastructure. This enables its customers to simplify IT operations and provides increased agility with a cloud operational experience. The customer experience transformation also includes AI and data-driven intelligence with HPE InfoSight and HPE CloudPhysics. Customers can store and serve their data with speed and high availability to applications, secure and protect their data across hybrid clouds from ransomware and cyber threats, and gain data mobility across private cloud, public cloud, and multi-cloud environments. HPE offers network management solutions, such as HPE Intelligent Management Centre (IMC). It provides thorough network management for both data centers and campus core networks. IMC transforms meaningless network data into useful information to maintain the operation of the network and the company. The network management portfolio offers various solutions, such as HPE IMC Basic, HPE IMC Standard, HPE IMC Enterprise, HPE IMC Network Traffic Analyzer, HPE IMC Virtual Application Networking, and HPE IMC Branch Intelligent Management System.
F5 is a technology company based in the US that specializes in application security, multi-cloud management, online fraud prevention, Application Delivery Networking (ADN), application availability and performance, network security, and access and authorization. F5 began with Application Delivery Controller (ADC) technology and has since expanded into the application layer, automation, multi-cloud, and security services. F5 has continued to reinvent itself as data leaks, DDoS, ransomware, and other attacks on large enterprises and SMEs have emerged. While hardware products, such as the BIG-IP iSeries systems, continue to account for most of F5’s revenue, the company has begun offering additional modules on their proprietary operating system. Some of these modules include Local Traffic Manager (LTM), Advanced Web Application Firewall (AWAF), Traffic Management Operating System (TMOS), DNS (previously known as GTM), and Access Policy Manager (APM). F5 now provides it as a virtual machine, dubbed the BIG-IP Virtual Edition. The BIG-IP Virtual Edition is cloud agnostic, enabling it to be deployed on-premises in a public, private, or hybrid cloud environment. During F5 Agility 2022, F5 announced a new product offering built on the BIG-IP, Shape Security, and Volterra platforms. The SaaS-based Web Application and API Protection (WAAP) solution will be the first new product to hit the market. F5 Distributed Cloud Services are SaaS-based security, networking, and application management services that enable customers to deploy, secure, and operate their applications in a cloud-native environment wherever required—data center, multi-cloud, network, or enterprise edge.
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