The Global Content Delivery Network (CDN) Market, according to a report by Market Research Future (MRFR), is expected to expand at 26.5% CAGR during the forecast period of 2019–2024.
Drivers and Restraints
The growing adoption of the Internet of Things (IoT) technology and smart devices such as smartphones and smart TV globally is fueling the growth of the market. In addition to this, the growing trend of bring your own device (BYOD) and mobility amongst enterprises which requires faster response time, and decreased downtime of websites has augmented the need for CDNs. Moreover, the growth in the demand for 4K/8K Ultra HD resolution video content is also contributing towards the market growth.
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Based on type, the CDN market has been categorized as a standard content delivery network and video content delivery network. The video content delivery network segment is sub-segmented into on-demand streaming, live linear streaming, and live streaming. The video content delivery network segment is expected to register a CAGR of 28.7% during the forecast period. While the standard video content delivery network is expected to grow at a CAGR 24.0%.
Based on the solution, the global content delivery market has been segmented into web performance optimization, media delivery, cloud security, and others. The media delivery segment is growing at a CAGR of 25.0%. The web performance optimization segment is expected to grow at a CAGR of 26.9% during the forecast period. Whereas, cloud security is the fastest-growing segment during the review period.
Based on the application, the global content delivery network segment has been segmented into analytics and performance monitoring, OTT streaming, network optimization, and website and API management. The OTT streaming segment is poised to have the largest market share. Whereas, analytics and performance monitoring is the fastest-growing segment at a CAGR of 27.6% during the assessment period.
Based on the service providers, Global Content Delivery Network Market has been segmented as a traditional content delivery network, cloud service providers, telco content delivery network, and others. The Telco content delivery network segment is expected to register a CAGR 28.6% during the forecast period. The cloud services providers are touted to be the fastest-growing market at a CAGR 30.2% over the forecast period.
Based on vertical, the content delivery network market has been segmented into media and entertainment, BFSI, gaming, education, retail and e-commerce, IT and telecommunication, and others. The media & entertainment segment accounts for the largest market share I the foreseeable future. The gaming is expected to be the fastest-growing segment during the forecast period at a CAGR of 30.4%.
The global CDN market, based on the region, has been segmented into North America, Europe, Asia-Pacific, and the Middle East & Africa, and South America. North America is slated to lead the CDN market during the review period, followed by Europe. The early adoption of IoT technology and smart devices such as smartphones and smart TVs in North America is one of the major factors driving the growth of the market. Furthermore, the presence of technology leaders is expected to contribute to the CDN market growth in the region. The US, followed by Canada, dominates the market in North America. The market in Asia-Pacific is also poised to hold a significant share. China is projected to dominate the market in the Asia-Pacific region.
The major market players of global CDN market are Limelight Networks Inc. (US), Akamai Technologies Inc. (US), CenturyLink (US), Fastly Inc (US), Tata Communications Ltd (India), StackPath, LLC (US), AT&T Inc. (US), Verizon Communications Inc. (US), CDNetworks Co. Ltd (South Korea), Amazon.com Inc. (US), and Comcast Corporation (US) among others.
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