Market Research Future (MRFR) has conducted a meticulous study on the global cloud content delivery network (CDN) market which is projected to experience a thriving CAGR of 28% throughout the forecast period 2017 to 2023. The study estimates that the market is expected to attain an approximate worth of $10 billion by the conclusion of 2023.
The cost-effective trigger to network speed that cloud content delivery networks offer in combination with the amalgamation between market players to extend unrivaled speeds is a primary force for the development of the worldwide market.
Cloud content delivery networks that are well distributed prove to be useful in allowing enterprise IT teams to curtail costs and streamline the process of delivering excellent video content. Today, consumers are quickly accepting the streaming services which is boosting the application of cloud content delivery network.
A cloud-based content delivery network is used in different ways to improve content delivery. Growing popularity of e-commerce along with the spurring demand for mobile application act as the key drivers for market growth.
Furthermore, the requirement for recording sales, calculating bills, and tracking consumer transaction has been identified and is likely to contribute considerably to market development. The rising sophistication of cyber-attacks coupled with data security are likely to restrict the growth of the market. The wide application of mobile CDN is anticipated to offer prospects for the growth of the market over the forecast period.
The Covid-19 Impact on Cloud Content Delivery Network Market globally is segmented based on type, component, vertical, region, and organization size.
- Based on type, the market is segmented into non-video content delivery network and video content delivery network.
- Based on component, the market is segmented into services and solution.
- Solution segment is sub segmented into cloud security, web performance optimization, and media delivery.
- Service segment is sub segmented into cloud storage, analytics & monitoring, support & maintenance, CDN design, and others.
- Based on vertical, the market is segmented into online gaming, advertising, e-commerce, media & entertainment, healthcare, education, and others.
- Based on region, the market is segmented into Europe, North America, APAC, and the rest of the world.
- Based on organization size, the market is segmented into small & medium enterprises (SMEs) and large enterprises.
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Global Covid-19 Impact on Cloud Content Delivery Network Market is ruled by renowned players such as Google, Inc. (U.S.), Akamai Technologies, Inc. (U.S.), Limelight Networks, Inc. (U.S.), Level 3 Communications (U.S.), Alcatel – Lucent SA (France), Amazon Web Services, Inc. (U.S.), Verizon Communications, Inc. (U.S.), Internap Corporation (U.S.), CDNetworks (Korea), Ericsson (Sweden), Highwinds (U.S.), and Tata Communications (India).
Limelight Networks, Inc. is a major provider of edge cloud services, recently announced it has upgraded the configuration and management capacities of its suite of services with their novel web portal offerings and Application Programming Interfaces (APIs).
North America represents the largest market share owing to the existence of several eminent market players who have contributed substantially toward the progress of the technology. Furthermore, mobile devices collectively with other compact personal electronic gadgets which are facilitated with NFC services have a surging adoption rate in the region, and owing to their application in different industry verticals, the market is estimated to flourish.
Europe is estimated to be the swiftest growing market over the forecast period. The Europe market has an inclination toward adoption of innovative technology. The market’s entrenched infrastructure enables enhanced efficiency in the employment of advanced know-how.
APAC market is projected to reflect impressive growth owing to the developing approval of cloud CDNs and the existence of various rapidly developing economies which represent demand for incorporation of progressive technologies that are obtainable in developed economies.