Content Delivery Network Market revenue worth $30 Bn by 2027
Published Date: March 31, 2021 Authors: Preeti Wadhwani, Smriti Loomba
Content Delivery Network (CDN) Market size is set to surpass USD 30 billion by 2027, according to a new research report by Global Market Insights, Inc.
The extensive proliferation of video and other media content and demand for enhanced delivery is expected to boost the CDN market growth. The growing internet traffic and need for enhanced quality of service & experience is supporting the adoption of content delivery networks across diverse industry verticals. The rapid server response and improved resource management capabilities of content delivery network solutions & services are driving adoption across enterprises.
The growing demand for resilient network infrastructure to deliver multimedia content across the globe
The content delivery network market is projected to witness 15% CAGR during 2021 to 2027 owing to enterprise-wide demand for robust network infrastructure. According to Verizon Media’s Network Reliability report, between the period of March 1, 2020 and May 31, 2020, approximately 10.3 trillion megabytes of data were processed online. The increase in internet traffic and enterprise demand to ensure quality of service is expected to drive enterprises to deploy content delivery network solutions & services.
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The growing emphasis on end user experience across enterprises is driving the market demand for website and API management services
The website and API management service is predicted to hold above 20% market share in 2027. The enterprises are witnessing significant difference in customer preferences in response to website load times and application responsiveness. The companies with media-rich websites and geographically dispersed consumers are required to ensure timely delivery of the content of their choice. In terms of APIs, the major factors including spike in network traffics, latency, and reliability are addressed through these services, enabling the adoption of content delivery networks.
Browse key industry insights spread across 270 pages with 337 market data tables and 31 figures & charts from the report, “Content Delivery Network (CDN) Market Size, By Component (Solution [Media Delivery, Web Performance Optimization, Cloud Security], Service [Storage Service, Network Optimization, Website and API Management, Professional Service], By Content Type (Static, Dynamic), By Application (Media and Entertainment, Retail & E-commerce, Healthcare, IT & Telecom, Government), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Industry-wide focus on personalized and optimized service delivery is enhancing the significance of dynamic content in the content delivery network market
The dynamic content segment is witnessing an exponential growth through 2027. The dynamic content is widely used by enterprises to strengthen end user connection through offering personalized user experience. Enterprises across e-commerce market feature their own sophisticated platforms. In order to expand customer base, the companies are required to offer personalized recommendations for their offerings. The increasing demand for real time content delivery through content delivery networks is contributing to the dynamic content segment growth.
The media & entertainment segment is expected to grow significantly
In the application segment, media and entertainment in content delivery network market is poised to grow substantially through 2027 on account of rising media streaming services and growing popularity of CDNs. The companies offering multiple online streaming services in the market are leveraging CDN platforms to support their service offerings. For instance, in November 2020, Internet Initiative Japan Inc. unveiled IIJ Media Sphere Service, a cloud-based video on demand streaming service powered by content delivery network platform. This helped the company to offer a comprehensive suite of VOD services to its customers across the market.
Extensive growth in online gaming and streaming services across Asia Pacific are support the demand CDN solutions
Asia Pacific CDN market is likely to account for more than USD 7 billion by 2027 due to upsurge in OTT consumption and online gaming trends. For instance, in March 2021, according to the State of Online Gaming 2021 report published by Limelight Networks, the individuals across Asia Pacific, especially China and India reported approximately 10 hours of online gaming. Considering the rising uptake of online gaming, the need to enhance the speed & performance followed by remote connectivity is expected to drive the demand for content delivery network solutions & services, supporting the market growth.
Focus on strategic partnerships and integrated platform development by key players to augment content delivery network market share
The companies operating in the industry are emphasizing on strategic partnerships to assist customers in seamless media delivery. For instance, in December 2019, Amazon Web Services Inc. entered into a partnership with Fox Corporation for the development of an integrated media delivery platform. The companies collaboratively developed a media platform with support to 8K media content based on AWS infrastructure. This helped Fox Corporation to deliver real-time and on-demand content across its digital platforms.
Some of the key players operating in the content delivery network market are Akamai Technologies, Alibaba Cloud, Amazon Web Services Inc., AT&T Inc., Citrix Systems Inc., Cloudflare Inc., Comcast Technology Solution, Deutsche Telecom, Fastly, G-Core Labs S.A, Google LLC, IBM Corporation, Imperva Inc., Leaseweb Global B.V., Limelight Networks Inc., Lumen Technologies, Microsoft Corporation, NTT Communications Corporation, QUANTIL, Inc., Rackspace, US Inc., StackPath LLC, Tata Communications, and Verizon Media.