Multi-cloud networking is a cloud computing architecture in which an organization distributes applications and services across several clouds, which may include two or more private clouds, two or more public clouds, or a blend of public, private, and edge clouds.
New York, Oct. 21, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Multi-Cloud Networking Market Size, Share & Industry Trends Analysis Report By Component, By Organization Size, By Deployment Mode, By Vertical, By Regional Outlook and Forecast, 2022 – 2028” – https://www.reportlinker.com/p06352749/?utm_source=GNW
To expedite the next phase of digital transformation, businesses are leveraging multiple cloud services and platforms to speed up app transformation as well as the delivery of new applications.
Businesses are deploying apps on public, private, and edge clouds, based on the best fit for their business objectives and application requirements. Concerns around total cloud expenditures, data sovereignty, vendor dependency, and lock-in are on the rise. Consequently, businesses will continue to distribute their estate over numerous contexts.
In industries, such as logistics, retail, and production, the next generation of improvements in automation, efficiency, and enhanced customer experiences requires applications to be delivered closer to physical objects and people at the edge. As major companies expand through the deployment of distributed data centers and on-premises or public cloud services, their ability to monitor and deploy applications and workloads employing this infrastructure becomes more challenging.
COVID-19 Impact Analysis
Governments in a number of countries were compelled to impose lockdowns within their countries. Furthermore, various businesses, as well as manufacturing facilities throughout the world, were temporarily closed. These factors took several economies to a steep downfall. However, the multi-cloud networking market was positively impacted during the pandemic. As a consequence of the lockdown, enterprises having cloud-based workloads have an edge over those attempting to migrate to the cloud and adjust to the circumstances. Efficient and optimal cloud management enables remote employees to maintain their productivity.
Market Growth Factors
Rising Demand For Data Recovery Along With Contingency Planning
Emergency recovery and contingency planning are essential for businesses of all sizes. The rate of data that is being generated has expanded as a result of the increasing IT consumerization as well as the increased use of computing devices. Multi-cloud disaster recovery involves storing data with many cloud service providers. For many enterprises, multi-cloud backups are as simple as delivering data to various providers, like Google Cloud Platform and Amazon Web Services (AWS).
Increasing Adoption Of Multi-Cloud Networking Solutions And Services Within SMEs
Small- and medium-sized enterprises (SMEs) have budgetary constraints and persistently struggle to follow regulatory requirements. In addition, it is difficult for SMEs to effectively focus on each and every business activity because their IT departments are smaller and they lack skilled workers. These complications are intriguing SMEs to adopt cloud computing services, as they aid in easily meeting regulatory requirements, reducing Capital expenses [CAPEX] and Operating Expenses [OPEX], increasing security, improving storage and flexibility, as well as automating software updates and business tasks, resulting in increased employee productivity.
Market Restraining Factors
Lack Of Technical Knowledge And Skilled Labor To Effectively Execute MCN
Enterprises are rapidly adopting emerging technology to automate and expedite their business processes. Cloud has become an integral component of enterprise IT strategies due to its cost-effectiveness and greater business agility. The adoption and deployment of cloud computing services raise the demand for technologically trained workers and effective change management in order for organizations to effectively execute and operate cloud services.
Based on Component, the Multi-Cloud Networking Market is bifurcated into Solutions (Multi-cloud management and Other solution) and Services (Consulting, Training and Support, Integration & Implementation). In 2021, the solution segment acquired the largest revenue share of the multi-cloud networking market. Multi-cloud networking solution, which is offered by numerous key market players, like Cisco and VMware, along with a plethora of startups, is aimed to handle the difficulty of connecting applications and networks across different public cloud environments in a secure and efficient manner.
Deployment Type Outlook
On the basis of Deployment Type, the Multi-Cloud Networking Market is divided into Public Cloud and Private Cloud. In 2021, the public cloud segment procured the highest revenue share of the multi-cloud networking market. The growth of the segment is rising as a result of the reduced deployment cost of the public cloud in contrast to other types. The advantages of public clouds over other clouds and on-premises infrastructures are numerous.
Organization Size Outlook
By Organization Size, the Multi-Cloud Networking Market is classified into SMEs and Large Enterprises. In 2021, the SME segment registered a significant revenue share of the multi-cloud networking market. SMEs are increasingly adopting cloud infrastructure services due to their convenience and adaptability, due to which, the demand is also likely to increase throughout the forecast period. SMEs are simply required to pay for their effort and hardware.
On the basis of Vertical, the Multi-Cloud Networking Market is segmented into IT & ITeS, Banking, Financial Services, and insurance, Retail & eCommerce, Healthcare & Life Sciences, Transportation & Logistics, Manufacturing, Media & Entertainment, Energy & Utilities, and Other Verticals. In 2021, the IT and ITeS segment acquired a substantial revenue share of the multi-cloud networking market. This segment is growing at a very rapid pace due to various benefits offered by service providers who must be prepared to move rapidly in order to serve the cloud, content, and new cloud-based applications and services, such as enhanced performance, decreased total cost of ownership, enhanced visibility, as well as standard industry practices.
Region-Wise, the Multi-Cloud Networking Market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2021, North America accounted for the biggest revenue share of the multi-cloud networking market. The regional market is rapidly evolving from standalone cloud services and solutions to a platform that blends public, onsite, and private IaaS.
The major strategies followed by the market participants are Acquisitions and Mergers. Based on the Analysis presented in the Cardinal matrix; Oracle Corporation and Cisco Systems, Inc., are the forerunners in the Multi-Cloud Networking Market. Companies such as VMware, Inc., Hewlett-Packard Enterprise and F5 Networks, Inc., are some of the key innovators in Multi-Cloud Networking Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, VMware, Inc., F5 Networks, Inc., Hewlett-Packard Enterprise, Nutanix, Inc., Cisco Systems, Inc., Juniper Networks, Inc., Citrix Systems, Inc., Versa Networks, Inc., and Cloudflare, Inc.
Recent Strategies deployed in Multi-Cloud Networking Market
Partnerships, Collaborations and Agreements:
Jul-2022: Nutanix partnered with Web Werks, a leader in independent data center providing. This partnership aimed to help organizations in accelerating cloud adoption.
Jun-2022: Oracle came into a partnership with Kyndryl, an IT infrastructure services provider. Under this partnership, the companies aimed to aid customers in boosting their migration to the cloud by offering managed cloud solutions to businesses throughout the world.
Jun-2022: F5 teamed up with SoftBank, a Japanese multinational conglomerate. Through this collaboration, the companies aimed to offer cutting-edge Multi-access Edge Computing services throughout Japan as well as other international markets.
May-2022: Oracle partnered with Informatica, an enterprise cloud data management company. With this partnership, the companies aimed to integrate the Intelligent Data Management Cloud of Informatica into the Oracle Autonomous Database of Oracle and avail this portfolio throughout the Oracle Cloud Marketplace.
Nov-2021: Cloudflare entered into a partnership with Oracle, an American multinational computer technology company. With this partnership, Cloudflare aimed to use its cybersecurity solutions in combination with Oracle’s cloud infrastructure of Oracle to eliminate unnecessary data transfer charges.
Sep-2021: Citrix partnered with Nutanix, an American cloud computing company. Under this partnership, Nutanix would help Citrix in deployments of hybrid and multi-cloud. Moreover, the Nutanix Cloud Platform would offer an appropriate environment in order to support Desktops services and Virtual Apps of Citrix within a hybrid multi-cloud capacity.
Acquisition & Mergers:
Feb-2022: Cloudflare took over Area 1 Security, a cloud-native platform. Through this acquisition, the company aimed to offer an easy approach to block phishing and malware to businesses along with other advanced threats protection.
Feb-2022: Juniper Networks acquired WiteSand, a zero-trust security startup. Following this acquisition, the company aimed to integrate the access control technology of WiteSand into its Mist network management platform.
Sep-2021: Hewlett Packard acquired Zerto, a leader in cloud data protection and management. This acquisition aimed to strengthen HPE GreenLake’s edge-to-cloud platform across the high-growth data protection market along with a reliable solution and augment the storage business of HPE into a cloud-native and software-defined data services business.
Sep-2021: F5 acquired Threat Stack, a leading cloud security and workload protection company. Following this acquisition, the company aimed to incorporate cloud security expertise and capabilities of Threat Stack into the application and API protection solutions of F5 to facilitate it for customers to adopt constant and reliable security across any cloud.
Jan-2021: F5 took over Volterra, a multi-cloud management startup. Through this acquisition, F5 aimed to further advance its adaptive applications strategy through an Edge 2.0 platform provided by Volterra in order to address complicated multi-cloud reality enterprise customers’ experiences.
Product Launches and Product Expansion:
Aug-2022: VMware launched the VMware Aria, a multi-cloud management portfolio. The new portfolio aimed to offer a range of end-to-end solutions in order to streamline cost management, enhance performance and configuration, and accelerate infrastructure and cloud-native applications delivery.
Feb-2022: F5 launched its application security and delivery offerings, a range of solutions built on Distributed Cloud Services for more security. This launch aimed to streamline security and bring automation within processes to allow application teams to focus on the delivery of functionality and features to improve customer experience.
Oct-2021: VMware rolled out VMware Cross-Cloud services, a set of integrated services. Through this launch, the company aimed to offer a smarter and faster migration to digital businesses to the cloud in order to aid them in navigating the multi-cloud era.
Scope of the Study
Market Segments covered in the Report:
o Multi-Cloud Management
o Integration & Implementation
o Consulting, Training & Support
By Organization Size
• Large Enterprises
• Small & Medium-sized Enterprises (SMEs)
By Deployment Mode
• Public Cloud
• Private Cloud
• IT, ITeS & Telecom
• Manufacturing, Transportation & Logistics
• Energy & Utilities
• Retail & eCommerce
• Media & Entertainment and Others
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Oracle Corporation
• VMware, Inc.
• F5 Networks, Inc.
• Hewlett-Packard Enterprise
• Nutanix, Inc.
• Cisco Systems, Inc.
• Juniper Networks, Inc.
• Citrix Systems, Inc.
• Versa Networks, Inc.
• Cloudflare, Inc.
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Read the full report: https://www.reportlinker.com/p06352749/?utm_source=GNW
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