Web performance market is estimated to exhibit high growth potential during the forecast period owing to increasing demand for web performance solutions and services across various industry verticals. Additionally, innovations and advancements in technology, and increasing market for web performance solutions owing to the growth of ecommerce industry is adding fuel to the growth of the web performance market.
Akamai Technologies, Inc., CA Technologies, Inc., Cavisson Systems Inc., CDNetworks, Cloudflare, Inc., Dynatrace, F5 Networks, Inc. and IBM are some of the leading players in the market. Akamai Technologies offer web performance solutions which help the consumers in empowering the business operations with fast and personalized web experiences for cloud-based applications. The company offers a tightly integrated suite of web delivery and optimization technologies. Along with web performance solutions, the company also provides media delivery, cloud security and various other solutions and services to the consumers. The company focusses on offering innovative solutions and keeps up with the fast pace of the technological advancements. Increasing push towards the use of web performance solutions across different industry verticals is one major factor driving the growth of web performance market. Due to the convenience being provided to the users with the adoption of web performance solutions, the growth of the global web performance market is anticipated.
The global web performance market is segmented by component, organization size, deployment, and vertical. The vertical segment is classified into BFSI, healthcare, manufacturing, IT & telecommunication, transportation, automotive and others. However, the IT & telecommunication sub-segment is expected to hold a major share of the global web performance market during the forecast period. This is owing to the increasing dependency of business operations in IT and telecommunication sector on web. However, the lack of awareness regarding the web performance solutions and high deployment costs are major factors that could pose as a hindrance in the growth of global web performance market. Also, increasing demand for quick deployment solutions and low budget constraints of small and medium enterprises are other major factors which may hamper the market growth.
According to Market Research Future Analysis, the global web performance market is estimated to generate revenue of approximately USD 6 billion by 2023 growing at a CAGR of 9% during the forecast period 2017-2023.
Web performance market has been segmented based on component, organization size, deployment, and vertical.
By component, the web performance market has been segmented into solution and service.
By organization size, the web performance market has been segmented into large enterprises and small and medium enterprises (SMEs).
By deployment, the web performance market has been segmented into cloud and on-premise deployment models. The cloud segment is anticipated to capture the larger share of the market over the forecast period. Enterprises are increasingly adoption cloud technology to avoid investment in IT infrastructure. Moreover, cloud deployment provides improved agility, scalability, which can be credited for the growth of the segment.
By vertical, the web performance market has been segmented into BFSI, healthcare, manufacturing, IT & telecommunication, transportation, automotive, and others. The IT & telecommunication segment is holding the foremost share of the global market. IT operations are highly dependent on the web, which boosts the growth of the segment. On the other hand, lack of awareness regarding web performance solutions and high costs associated with deployment are likely to hinder the growth of the market.
By region, the web performance market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC). North America is the largest market web performance market, while the APAC market is anticipated to be the fastest-growing market. Ṭhe growth of the market can be attributed to the technological advancements in the region.
Some of the key players in the market: Akamai Technologies, Inc. (U.S.), CA Technologies, Inc. (U.S.), Cavisson Systems Inc. (U.S.), CDNetworks (South Korea), Cloudflare, Inc. (U.S.), Dynatrace (U.S.), F5 Networks, Inc. (U.S.), IBM (U.S.), Micro Focus International plc. (U.K), Netmagic Solutions (India), Neustar, Inc. (U.S.), New Relic, Inc. (U.S.), ThousandEyes, Inc. (U.S.), and ZenQ (U.S.) among others.
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