Application Delivery Controllers (ADC) Market Surging Demand to Propel Growth to USD 12.8 Billion by 2030
The growth of SMEs and the increase in the adoption of ADC by IT and telecom sectors are the major factors that propel the growth of the ADC market
PORTLAND, PORTLAND, OR, UNITED STATES, June 13, 2023/EINPresswire.com/ — According to the report by Allied Market Research,The global ADC market size was valued at $2.3 billion in 2020, and is projected to reach $12.8 billion by 2030, growing at a CAGR of 19.1% from 2021 to 2030. The research offers a comprehensive analysis of changing market trends, major segments, key winning policies, and competitive perception.
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Emerging need to continue uninterrupted communication channels along with different business operations, rise in the number of mobile-based applications, and increase in trend of bring your own device to workplace drive the growth of the global application delivery controllers (ADC) market. Moreover, low setup and maintenance costs supplement the market growth. However, issues related to security restrain the market growth. On the other hand, the inclination toward cloud and rise in adoption of ADC by the IT and telecom sectors are estimated to create new opportunities in the coming years.
Covid-19 Scenario:
• The demand for ADC increased considerably as organizations shifted to work from home culture due to lockdown and the need to stay productive while working from any location.
• According to the survey by the Ecological Momentary Assessment, nearly 90 percent of the total enterprises that participated in the survey highlighted that they made changes in their application delivery infrastructure with the outbreak of the Covid-19 pandemic. These changes involved strengthening security and increasing capacity.
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Based on end user, the IT & telecom segment accounted for the largest market share in 2020, contributing to more than one-third of the global ADC market lead position during the forecast period. This is attributed to investments to a greater extent in hardware ADCs as compared to the software/VADCs. However, the BFSI segment is estimated to manifest the largest CAGR of 22.6% from 2021 to 2030, owing to rise in online banking, digitalization in the financial sector, and the requirement to avoid DDOS attacks and minimize the security threats.
Based on deployment mode, the on-premise segment held the highest market share in 2020, accounting for nearly three-fourths of the global application delivery controllers market, and is projected to maintain its leadership status during the forecast period. This is due to benefits such as low deployment cost, easy scalability, agility, and less maintenance cost. However, the cloud segment is expected to witness the highest CAGR of 23.8% from 2021 to 2030, owing to its supports for the use of the dedicated micro-services within the enterprise environments.
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Based on region, North America contributed the highest market share in terms of revenue in 2020, accounting for nearly two-fifths of the global application delivery controllers market, and is expected to maintain its dominance in terms of revenue by 2030. This is due to surge in enterprise mobility and extensive wireless connectivity. However, Asia-Pacific is projected to portray the fastest CAGR of 22.5% during the forecast period, owing to digitalization and growth in adoption of the IoT-based applications.
Leading market players examined in the research include KEMP Technologies Inc, Array Networks, Brocade Communications Systems, A10 Networks Inc., Citrix Systems Inc., Dell Inc., Barracuda Networks Inc., Cisco Systems Inc., and F5 Networks Inc.
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