Content delivery Network Market
The content delivery network market size was valued at $11,629 million in 2019, and is projected to reach $38,689 million by 2027, growing at a CAGR of 15.3% from 2020 to 2027.
Surge in adoption of new cutting-edge technologies in various organizations and rise in need to create new mile stone in communication sector drive the growth of the market. In addition, increase in demand for low latency content delivery among small & medium enterprises fuels the growth of the market.
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Furthermore, increase in need of interactive, efficient and cost-effective content delivery network service along with emerging technology such as augmented reality and virtual reality are expected to provide remunerative opportunities for the expansion of the market during the forecast period.
A Content Delivery Network (CDN) is a highly distributed server platform designed to reduce delays and improve web page and content loading times by minimizing the physical distance between users and servers. This ensures that users can access high-quality content and web pages without experiencing loading delays. Without a CDN, the origin server must handle every individual user request, leading to heavy traffic at the source and an increased risk of server failure. In contrast, a CDN helps manage internet traffic efficiently while providing robust protection.
Depending on the component, the solution segment dominated the content delivery network market share in 2019, and is expected to continue this trend during the forecast period as the solution allows organizations to focus on their major activities such as providing new features in the application, which notably contributes toward the growth of the global market. However, the service segment will show highest growth rate in the upcoming years due to increasing demand of various services such as professional services, managed services.
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Furthermore the use of content delivery network is increasing in various industry verticals such as BFSI, IT and Telecom and others which will increase the demand for service globally which will be opportunistic for the global CDN market. For instance, in May 2020 Akamai Technologies global provider of content delivery network service partnered with Conviva which is leader in the global streaming of media and video to provide better API service to improve Conviva users experience.
Based on provider type, the traditional CDN segment dominated the overall CDN market share in 2019, and is expected to continue this trend during the forecast period. As to host this websites traditionally is becoming difficult because of single point of presence of server so content delivery network helps it to build faster, secure and cost-effective network for better customer experience which will create lucrative opportunities in the global content delivery market.
However, the peer-to-peer CDN segment is expected to witness highest growth due to the factors such as growing use of multi CDN infrastructure such as client-side CDN switchers. A peer-to peer CDN uses end-device information to determine the best ratio of content consumption from a content delivery network edge servers and other end-devices providing the same content. This will provide numerous opportunities for the CDN market to grow.
Asia-Pacific is expected to exhibit highest growth during the forecast period, owing to strong economic growth along with the ongoing development in the IT and telecom sector, which drives organizations to invest heavily in content delivery network to sustain growth and improve productivity. In addition, factors such as major shift toward digital transformation, rise in cloud deployment and technological advancement among small & medium businesses, and ongoing modernization of telecommunication networks such as 5G networks, low latency private LTE drive heavy investment in content delivery network in emerging economies. Furthermore, enterprises in Asia-Pacific are focusing on enhancing their operations and increasing their overall efficiency to stay competitive in the market, which is expected to provide lucrative opportunities for the growth of the market during the forecast period.
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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 development in the IT and telecom sector 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.
Covid-19 Scenario
1. Internet and data service providers experienced nearly 30-45% growth in internet traffic worldwide. Owing to rise in need to ensure the highest capability and capacity for providing content over the delivery network with high performance, they implemented massive investment plans.
2. There has been considerable growth in the popularity of content delivery networks and 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.
3. Organizations that deployed content delivery networks before the pandemic were able to adjust to new business requirements rapidly as the work-from-home became mandatory to ensure business continuity.
Leading Market Players
Akamai Technologies
Microsoft Corporation
IBM Corporation
Limelight Networks
Amazon Web Services, Inc.
Google LLC
Lumen Technology
Cloudflare, Inc.
Citrix Systems
Rackspace Technology
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