Content Delivery Network Market is Projected to Reach USD 15.3% Bn By 2027 | LIMELIGHT NETWORKS, CLOUDFLARE
The rise in the use of consumers in over-the-top service is anticipated to create a lucrative content delivery network market opportunity.
PORTLAND, PORTLAND, OR, UNITED STATES, August 10, 2023/EINPresswire.com/ — According to the report, the global content delivery network industry generated $11.62 billion in 2019, and is expected to reach $38.68 billion by 2027, witnessing a CAGR of 15.3% from 2020 to 2027.
Requirement for uninterrupted and live content delivery and high-speed data network, usage of rich media and video over website, rise in demand for enhanced video and online gaming streaming, and surge in penetration of smartphone and wearables worldwide drive the growth of the global content delivery network market. However, technical difficulties in security and complex architecture hinder market growth. On the other hand, demand for high service quality, shift towards service architecture, and usage of consumer in over-the-top services present new opportunities in the coming years.
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Based on industry vertical, the media and entertainment segment contributed to the highest market share in 2019, accounting for around one-fourth of the global content delivery network market, and is projected to maintain its leadership status during the forecast period. This is due to usage of online video streaming and online gaming. However, the healthcare segment is expected to manifest the highest CAGR of 18.8% from 2020 to 2027. This is due to real-time information of patients offered during various situations on a regular basis.
Based on component type, the solution segment contributed to the highest share in 2019, accounting for more than three-fifths of the global content delivery network market, and is estimated to maintain its lead position during the forecast period. This is due to adoption of solutions among organizations as it allows them to focus on their major activities. However, the services segment is expected to witness the highest CAGR of 16.7% from 2020 to 2027, owing to increase in demand for various services such as managed services, professional services, and low-cost maintenance service for maintaining security and high quality of the network.
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Based on region, North America held the largest market share in 2019, accounting for around two-fifths of the global content delivery network market, and is expected to maintain dominance in terms of revenue by 2027. This is due to high adoption of online services and media, rise in usage of artificial intelligence (AI) & other smart connected devices in the region. However, Asia-Pacific is projected to maintain the highest CAGR of 18.7% during the forecast period, due to ongoing IT and telecom sector development that drives organizations to invest heavily in the content delivery network to improve productivity and sustain growth. In addition, a major shift toward digital transformation, rise in cloud deployment, and technological advancement among small & medium businesses supplement the growth.
This report gives an in-depth profile of some key market players in the content delivery network market are Akamai Technologies, Microsoft Corporation, IBM Corporation, Limelight Networks, Amazon Web Services, Inc., Google LLC, Lumen Technologies, Cloudflare, Inc, Citrix Systems, and Rackspace Technology. This study includes content delivery network market trends, content delivery network market analysis, and future estimations to determine the imminent investment pockets.
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Covid-19 Scenario:
• Internet and data service providers experienced nearly 30–45% growth in internet traffic worldwide. Owing to rise in the need to ensure the highest capability and capacity for providing content over the delivery network with high performance, they implemented massive investment plans.
• There has been considerable growth in the popularity of content delivery networks and the attention of researchers in both industry and academia to save data searching costs. This generated more revenue streams for service providers as they offered various features in networking.
• Organizations that deployed content delivery networks before the pandemic were able to adjust to new business requirements rapidly as work-from-home became mandatory to ensure business continuity.
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Related Report:
1. Cloud Content Delivery Network (CDN) market
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