The content delivery network market is expected to see substantial gains in the upcoming time period due to rapid digitization, increasing number of smartphone users, rising popularity of CDNs across healthcare enterprises and corporate enterprises. The increasing data center establishments and internet consumption will also contribute towards market growth.
A Content delivery network, or a CDN, is an important part of any modern website as well as application. CDN is basically a highly distributed platform of servers that aids in minimizing the delays in loading web page content by decreasing the physical distance between the user and the server.
The content delivery network market is segmented in terms of component, content type, application, and regional landscape.
With respect to component, the market for content delivery network is divided into service and solution. Among these, the solution segment is further classified into cloud security, web performance optimization, and media delivery. Among these, the web performance optimization segment is expected to witness a growth rate of above 15% CAGR over the forecast time period due to extensive website traffic.
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The service segment is classified into professional service, website and API management, network optimization, and storage service. Among these, the storage service segment is projected to dominate over the forecast period due to rising adoption across corporate enterprises.
Meanwhile, the network optimization segment is slated to grow at a CAGR of more than 16% over the projected time period. The growth is ascribed to enterprise-wide demand for enhanced quality of service. Professional service segment is anticipated to grow substantially over the forecast period with demand from enterprises with lack of technology expertise.
In terms of application, the overall content delivery network is categorized into government, IT & telecom, healthcare, retail & e-commerce, media and entertainment and others. Among these, the healthcare application segment is projected to witness a respectable CAGR of over 15% through the forecast time period. The rising popularity of CDNs across healthcare enterprises will drive the growth of this growth.
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Government segment is estimated to witness a steady growth over the projected time period owing to the limited adoption and lack of technology benefits. Meanwhile, the others segment is projected to witness a 10% CAGR over the forecast time period. The anticipated growth is majorly ascribed to the growing significance across BFSI and education sectors.
From a regional frame of reference, Latin America region is projected to hold more than 12% share over the projected time period. This estimated growth is ascribed to the increasing data center establishments and internet consumption.
Meanwhile, Middle East & Africa region is anticipated to grow significantly over the coming time period owing to extensive digitization and smartphone penetration.