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Report
Cloud CDN - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 120 Pages I Mordor Intelligence
The Cloud CDN Market size is estimated at USD 10.95 billion in 2024, and is expected to reach USD 32.43 billion by 2029, growing at a CAGR of 24.27% during the forecast period (2024-2029).
Key Highlights
-The cloud platforms allow users to provide services such as distributed denial-of-service (DDoS) protection, streaming video, web application firewalls, and e-commerce optimization.
-The increased dependence on cloud services, integration of IT applications and services, and a proliferation of mobile and connected devices coupled with the shift of content and advertising to the online world are some factors that would contribute to the growth of the Cloud CDN market over the forecast period.
-The rising demand for content delivery at higher speeds became one of the prominent factors fueling the growth of the Cloud CDN market.
-With the internet now being the basic necessity for an individual, the growing volume of data consumption over the internet opened up a potential opportunity for Cloud CDN providers, thereby boosting the market during the forecast period.
-Furthermore, the adoption of cloud in enterprises is primarily due to flexibility, scalability, and cost-effectiveness. Since the COVID-19 outbreak and subsequent lockdowns, the network provider saw unprecedented growth in traffic volumes. There were many efforts from communications service providers (CSPs) to ramp up network capacity and connectivity, while video streaming providers downgraded video to SD quality to decrease the bandwidth needs.
-However, according to certain experts, CDNs are only sometimes consumed by businesses in the best possible manner. The vendor, however, may have limitations with regard to coverage and performance that clients may need to look into. Businesses tend to overprovision. As a result, they needed to be more compromising on their ability to develop top-performing and flexible content delivery sites, which is essential for their businesses. In addition to this, the video certainly poses a challenge, and this is because, in the video, format matters a great deal. IPads, desktops, and laptops follow different protocols, so caching a video can present issues.
Cloud CDN Market Trends
E-Commerce Segment is Expected to Hold the Significant Share
- The e-commerce segment highly depends on content delivery to its end customers. The speeds at which the content is delivered and the user experience, amongst others, are some of the important factors contributing to the growth of an E-commerce segment. It makes it imperative for them to go for solutions like Cloud CDN, thereby boosting the market over the forecast period.
- Some prominent players in the market, such as SalesForce, enable digital customers with Salesforce Commerce Cloud, an embedded content delivery network (eCDN). It allows them to increase site speed access and content delivery, allowing the end user a reliable and secure online shopping experience.
- The increasing dependence of the end customers on online shopping increased retail e-commerce sales. It is thereby making it imperative for the retail e-commerce providers to further enhance the user experience, subsequently fueling the growth of the Cloud CDN over the forecast period.
- During festive seasons or occasions, e-commerce players witness large website traffic. Therefore, catering to such traffic is of prime importance for the providers to ensure that the content on their site is delivered to the traffic immediately without any delay. Therefore, a Cloud CDN becomes a viable option for these players to cater to such needs, fueling the market's growth over the forecast period.
North America is Expected to Hold the Largest Share
- North America includes the highest internet penetration rate, which is expected to fuel the growth of the Cloud CDN market over the forecast period. It is also possible due to some major regional players, enabling it to maintain its dominance throughout the forecast period.
- The shift of trend from traditional retail shopping to online E-commerce website sales made it of prime importance for E-commerce providers. It is to enhance their user experience through faster content delivery, hassle-free interaction with the website, and many more. It is expected to boost market growth over the forecast period.
- The increase in viewing online media content in the region is also one of the factors contributing to the growth of the Cloud CDN market throughout the forecast period.
- DigitalOcean is an American cloud hosting company that pushed the idea of using a solid state drive (SSD) to create a developer-friendly platform that allows customers to transfer projects and increase production easily and efficiently. The company's enterprise customers can easily leverage the benefits of scale by executing projects across multiple platforms without worrying about performance.
Cloud CDN Industry Overview
Due to prominent industry players such as Google Inc. and Amazon Web Services (AWS), the Cloud Content Delivery Network (CDN) sector experiences intense competitive rivalry. These key players leverage strategic partnerships, mergers, and acquisitions to maintain a strong presence in the market. Substantial investments in research and development activities have enabled them to sustain a competitive edge over their peers.
In August 2023, StackPath made the significant decision to exit the Content Delivery Network (CDN) business. In response, Akamai announced its acquisition of approximately 100 CDN customers from StackPath. As part of this acquisition, Akamai secured valuable assets, including select enterprise customer contracts, following StackPath's choice to discontinue its content delivery network operations.
In September 2022, Bharti Airtel (Airtel) entered the content delivery network (CDN) market by launching Edge CDN as part of its Edge Cloud Portfolio. Concurrently with this launch, the company formed a strategic partnership with CDN enabler Qwilt to deploy Edge CDN.ai.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Degree of Competition
4.3 Impact of Covid-19 on the Market
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Data Consumption Over Internet
5.1.2 Increasing Demand for Faster Content Delivery
5.2 Market Restraints
5.2.1 Latency Issue
6 MARKET SEGMENTATION
6.1 Solutions & Services
6.1.1 Media Delivery
6.1.2 Cloud Security
6.1.3 Web Performance
6.2 Deployment
6.2.1 Public Cloud
6.2.2 Private Cloud
6.2.3 Hybrid Cloud
6.3 End-user Industry
6.3.1 Media & Entertainment
6.3.2 E-Commerce
6.3.3 IT and Telecom
6.3.4 Other End-user Industries
6.4 Geography
6.4.1 North America
6.4.1.1 United States
6.4.1.2 Canada
6.4.2 Europe
6.4.2.1 United Kingdom
6.4.2.2 Germany
6.4.2.3 France
6.4.2.4 Rest of Europe
6.4.3 Asia-Pacific
6.4.3.1 China
6.4.3.2 Japan
6.4.3.3 South Korea
6.4.3.4 Rest of Asia Pacific
6.4.4 Latin America
6.4.5 Middle East and Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Akamai Technologies, Inc.
7.1.2 Google, Inc
7.1.3 Amazon Web Services, Inc.
7.1.4 Telefonaktiebolaget LM Ericsson
7.1.5 Alibaba Group Holding Limited
7.1.6 Fastly, Inc.
7.1.7 Cloudflare, Inc.
7.1.8 Internap Corporation
7.1.9 Limelight Networks.
7.1.10 Verizon Communications, Inc.
8 INVESTMENT ANALYSIS
9 FUTURE OF THE MARKET
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