Chicago, Sept. 21, 2022 (GLOBE NEWSWIRE) — 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, according to a new report by MarketsandMarkets™. The major factors driving the growth of the Multi-Cloud Networking Market include avoiding the situation of vendor lock-in(s), gradual mandatory surge in agility and automation paradigm, higher returns on investments even with minimal infrastructure and lower storage costs.
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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.
IT and ITeS (IT-enabled services) to record the highest market size during the forecast period
This sector is expected to hold a significant share of the Multi-Cloud Networking Market due to different advantages offered by …