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(Wireless-NewsWire.Com, May 24, 2018 ) Research Cosmos forecasts the web performance market to grow from USD 3.50 Billion in 2017 to USD 5.45 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 9.2% during the forecast period. The major factors driving the web performance market growth are the growth of the eCommerce industry, and proliferation of images, videos, and rich media on the web.
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The objective of the report is to define, describe, and forecast the web performance market size on the basis of components (solutions and services), organization size, deployment types, verticals, and regions. In the components segment, the solutions segment is expected to have the larger market share during the forecast period. With an increase in the number of connected IT devices, the demand for web connectivity would also rise. This is expected to result in the larger market size of the web performance solutions segment.
In the services segment, the managed services segment is expected to witness the fastest growth rate during the forecast period. End-users have different business requirements that are handled by the managed service providers to help enterprises focus more on their core business. Furthermore, managed services help organizations enhance the customer relationship. Managed services are gaining traction, as they help organizations flourish and simultaneously assist them in increasing the Return on Investment (RoI) by ensuring enhanced web performance across multiple channels.
In the deployment types segment, the cloud deployment type is expected to grow at a higher CAGR during the forecast period. Companies are shifting toward cloud-based services to avoid investments in the IT infrastructure and experience better scalability, faster deployment, and agility benefits. With cloud-based deployments, organizations can easily minimize their upfront costs, manage content quality, increase their RoI, and expand their customer base. Therefore, it is expected that the cloud deployment type would witness higher adoption during the forecast period.
In the verticals segment, the IT and telecom vertical is estimated to have the largest market share in the web performance market in 2017. Business operations in the IT and telecom vertical are mostly dependent on the web, which makes it necessary to use web performance solutions for qualitative and personalized web experiences. Web performance solutions provide technical enterprises timely, quick, and advanced technical assistance, resulting in the best output with minimal time and budget.
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North America is expected to have the largest share in the web performance market during the forecast period. Enterprises in North America have shifted from the traditional business approach to online platforms, which is expected to drive the growth of the eCommerce industry in the region. This has created a demand for new websites and web applications, thereby leading to more need for web performance solutions. This is one of the major reasons for the significant growth of the North American web performance market. Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period, as the region has the presence of creditable organizations that are gradually embracing the adoption of advanced technologies.
The growth of the eCommerce industry, and proliferation of images, videos, and rich media on the web are expected to drive the growth of the web performance market. However, the lack of awareness about web performance may hinder the market growth and act as a restraining factor that can hamper business-critical functions in the market.
The major vendors in the web performance market are Akamai (US), CA Technologies (US), Cavisson (US), CDNetworks (Korea), Cloudflare (US), Dynatrace (US), F5 Networks (US), IBM (US), Micro Focus (UK), Netmagic (India), Neustar (US), New Relic (US), ThousandEyes (US), and ZenQ (US).
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Dani Rodriguez
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