Both Transit Gateway and Cloud WAN allow centralized connectivity between VPCs and on-premises locations. Transit Gateway is a Regional network connectivity hub and is optimal if you operate in a few AWS Regions, want to manage your own peering and routing configuration, or prefer to use your own automation.
Cloud WAN is a managed wide area network (WAN) that unifies your data center, branch, and AWS networks. Although you can create your own global network by interconnecting multiple Transit Gateways across Regions, Cloud WAN provides built-in automation, segmentation, and configuration management features designed specifically for building and operating global networks. Cloud WAN has additional capabilities such as automated VPC attachments, integrated performance monitoring, and centralized configuration.