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 fuel the CDN industry demand. The growing internet traffic and need for improved quality of service & experience is supporting the adoption of content delivery networks. The rapid server response and improved resource management capabilities of content delivery network solutions & services are driving usage across enterprises.
Rising demand for resilient network infrastructure to deliver multimedia content
The content delivery network market is projected to witness 15% CAGR through 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 augmenting enterprises to deploy CDN solutions & services.
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Growing emphasis on end user experience across enterprises
The website and API management service segment is predicted to hold above 20% of the content delivery network market share in 2027. The enterprises are observing 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 acceptance 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), COVID-19 Impact Analysis, 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
The dynamic content segment in content delivery network market is poised to see 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 segment growth.
The media & entertainment segment is expected to grow significantly
The media and entertainment application is set to register substantial growth till 2027 on account of rising media streaming services and increasing popularity of CDNs. The companies offering multiple online streaming services in the market are leveraging CDN platforms to support their service offerings.
Extensive growth in online gaming and streaming services across Asia Pacific
Asia Pacific CDN market is likely to generate more than USD 7 billion revenue 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 APAC, 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 spurring the demand.
Focus on strategic partnerships and integrated platform development by key players
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 Technoslogy 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. The companies are emphasizing on strategic partnerships to assist customers in seamless media delivery.