Load Balancer Market
According to a recent report published by Allied Market Research, titled, “Load Balancer Market by Component, Type, Deployment, and Enterprise Size: Opportunity Analysis and Industry Forecast, 2020-2027,” the global market was valued at $3.39 billion in 2019, and is projected to reach $8.90 billion by 2027, growing at a CAGR of 12.9% from 2020 to 2027.
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Load balancing is a set of processes that handles multitude of server requests from modern multi-application and multi-device workflows. Its primary function is balancing workloads and distributing network traffic across multiple servers. In addition, load balancer ensures that no single server bears excessive requests or demands. In addition, it is incorporated in application delivery controllers (ADCs) or software-defined load balancing algorithms. Increase in need for business continuity and data load efficiently, especially in IT and telecom industry is significantly driving the growth of global load balancer market during the forecast period.
Factors such as the rise in global IP traffic, the rise in the deployment of load balancers to deliver optimum performance with efficient load balancing for interconnected data center infrastructure, especially in developing regions, and ongoing digital transformation initiatives by governments across the world are driving the demand for the global load balancer market.
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COVID-19 scenario:
1. Due to the COVID-19 outbreak, most of the industries are adopting digital infrastructure. This factor has accelerated digital transformation, which in turn, has aided the market to scale up the growth.
2. The service providers, on the other hand, have adopted remote working system to continue their services. This has aided the load balancer providers to be stable in terms of revenue.
The global load balancer segment is anticipated to hold the majority of the load balancer market share in 2027 due to the rise in the adoption of multi-cloud deployment and the need to deliver mission-critical business continuity and global disaster recovery support in the event of site-or regional-level outages.
The IT & telecom segment accounted for the major share among several industry verticals, owing to the fact that data center servers are primary end users of load balancers. Moreover, ongoing digital transformation across the globe and rise in cloud migration services among various industry verticals. Further, realization of CSPs to avoid service outages which hamper the brand image is also driving the demand for load balancer market in telecom industry.
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Based on type, the local load balancer segment contributed to the largest share in 2019, holding for nearly three fifths of the global load balancer market, and is expected to maintain the lion’s share throughout the forecast period. Rise in number of data centers and increase in demand for fast application delivery are the major factors that drive the growth of the segment. Nevertheless, the global load balancer segment is estimated to portray the highest CAGR of 17.0% during the forecast period. Global server load balancing (GSLB) helps in directing the network traffic among a group of networks or data centers situated across various geographical locations which drives the growth of the segment.
Based on components, the hardware segment accounted for the largest share in 2019, contributing to nearly two-fifths of the global load balancer market, and is estimated to maintain its dominant position during the forecast period. Conversely, the software segment is expected to register the highest CAGR of 14.6% from 2020 to 2027. With rise in adoption of software as a service (SaaS), the demand for software load balancers is expected to increase proportionally, as they are scalable, programmable, and reliable. In addition, software-based applications reduce the modification in hardware, which, in turn, drives the growth of the segment.
Based on region, North America dominated the market with nearly two-fifths of the global load balancer market in 2019, and will maintain its dominance throughout the forecast period. The need for better web services and business continuity without disrupting networks in this region drives the growth of the market. On the other hand, the Asia-Pacific region is expected to grow at the highest CAGR of 15.7% from 2020 to 2027. The launching of advanced load balancers, which are scalable and flexible with emerging technologies such as AI drives the market growth in this region.
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The global load balancer market analysis includes some of the key market players such as A1o Networks, Inc., Amazon Web Services, Inc., Citrix Systems, Inc., F5 Networks, Inc., Google LLC, IBM Corporation, Imperva, Kemp Technologies, Inc., Microsoft Corporation, and Radware Ltd.
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