Cloud Content Delivery Network (CDN) Market Migration Services Market Global Industry Size, Share, Trends, Growth Factors, and Regional Outlook To 2030
In its research report, Market Research Future (MRFR), highlights that the global Cloud Content Delivery Network (CDN) Market 2020 is slated to grow significantly, securing a substantial market valuation of USD 10 billion by 2023, and a healthy 28% CAGR over the review period.
The Covid-19 Analysis on Cloud Content Delivery Network (CDN) Market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on the Covid-19 Analysis on Cloud Content Delivery Network (CDN) Market highlights the future prediction and the growth alternatives that can be created.
The major market players operating in the global Cloud Content Delivery Network (CDN) Market as identified by MRFR are Google, Inc. (U.S.), Akamai Technologies, Inc. (U.S.), Level 3 Communications (U.S.), Limelight Networks, Inc. (U.S.), Alcatel – Lucent SA (France), Amazon Web Services, Inc. (U.S.), Internap Corporation (U.S.), CDNetworks (Korea), Ericsson (Sweden), Verizon Communications, Inc. (U.S.), Tata Communications (India) and Highwinds (U.S.).
Drivers and Restraints
Another major factors driving the growth of the global Cloud Content Delivery Network (CDN) Market are growing demand for mobile apps and rising popularity of e-commerce and online shopping. High adoption of cloud-based technology is one of the major factors driving the growth of the demand for network delivery of cloud content. Incorporating content and rich media into the marketing campaign is the trend among organizations to catch their clients' attention. Increasing awareness of monitoring consumer purchases, reporting sales and measuring bills, is also driving business growth. Increasing internet adoption has resulted in various types of video formats being delivered across different platforms due to the easy accessibility of low-cost bandwidth. Demand for various video formats, such as on-demand video streaming, live video streaming, cloud TV, and Over the Top ( OTT), has risen over the past few years and will continue to grow in the years ahead.
Furthermore, the growth in the use of social networking sites is also one of the key reasons for the upsurge in video and other rich content, such as images, animations, and online text. Activities such as the transfer, sharing, and posting of rich media files, both by content providers and individuals, have increased the burden on existing networks. Hence, the rising consumption of high-definition, web-based videos is the major factor contributing to the increase in CDN adoption.
The global Covid-19 Analysis on Cloud Content Delivery Network (CDN) Market is analyzed by type, component, organization size and vertical. Based on the component, the market is bifurcated into solution and services. The solution segment is further segmented into cloud security media delivery, and web performance optimization. Whereas, the service segment is further segmented into analytics and monitoring, CDN design, cloud storage, support & maintenance and others.
Based on type, the global market is bifurcated into video content delivery network and non-video content delivery network. On the basis of organization size, the market is bifurcated into small and medium enterprises and large enterprises.
Whereas, On the basis of vertical, the market is segmented into online gaming, advertising, media & entertainment, education, e-commerce, healthcare and others.
The global business regional analysis was conducted in four major regions including Asia Pacific , North America, Europe and the rest of the world. The North American region holds the world's largest market share, followed by Europe, and the Asia Pacific region. Due to rising technological enhancements and growing popularity of GPRS and server-cloud-enabled cloud content delivery networks in the region, the US and Canada dominate the North American market. Market growth in North America is attributed to technological advances and increased adoption of mobile devices enabled by NFC services across various vertical branches of industry. The region also has a well-established infrastructure allowing for faster deployment of advanced technologies. In addition, the rising usage of NFC's activated smart and connected devices is another major factor driving the growth of the region's cloud content delivery network industry.
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