Press release
Load Balancer Market Report 2024: Strategies And Recent Developments | A10 Networks Inc., KEMP Technologies Inc., Hewlett-Packard Development Company L. P
Load Balancer Market Size
The Business Research Company offers in-depth market insights through Load Balancer Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The load balancer market size has grown rapidly in recent years. It will grow from $5.53 billion in 2023 to $6.33 billion in 2024 at a compound annual growth rate (CAGR) of 14.6%. The growth in the historic period can be attributed to increased web traffic and demand for scalability, growth in e-commerce and online services, data center expansion and consolidation, application performance optimization needs, high availability and redundancy requirements.
The load balancer market size is expected to see rapid growth in the next few years. It will grow to $11.53 billion in 2028 at a compound annual growth rate (CAGR) of 16.2%. The growth in the forecast period can be attributed to expansion of cloud computing services, emphasis on security and ddos protection, integration with devops and automation, increasing hybrid and multi-cloud deployments, adoption of edge computing. Major trends in the forecast period include application-aware load balancing, machine learning for dynamic load balancing, microservices architecture and load balancing, api gateway integration with load balancers, software-defined networking (sdn) for load balancing.
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Market Segmentation:
The load balancer market covered in this report is segmented -
1) By Type: Local Load Balancer, Global Load Balancer
2) By Component: Hardware, Software, Services
3) By Enterprise Size: Large Enterprises, Small And Medium-sized Enterprises
4) By Deployment: On-Premise, Cloud
5) By Industry Vertical: Banking, Financial Services And Insurance (BFSI), Information Technology (IT) And Telecom, Retail, Government, Manufacturing, Media And Entertainment, Healthcare, Other Industries
Major Driver - The Surge In Connected Device Adoption Fuels Load Balancer Market Growth
The rising adoption of connected devices is expected to propel the growth of the load balancer market going forward. Connected devices are physical things that can communicate with one another and other systems over the internet. Connected device use has been growing due to the convenience it offers users. These devices are connected to the internet, and load balancers analyze incoming requests and divert them to the relevant servers. For instance, according to the State of IoT-Spring 2022 report by IoT Analytics, a Germany-based provider of market insights and strategic business intelligence for the IoT, the global IoT connection number grew by 8% in 2021 to 12.2 billion active endpoints, which is expected to grow 18% to 14.4 billion active connections in 2022. The number is expected to be around approximately 27 billion connected IoT devices by 2025. Therefore, the rising adoption of connected devices is expected to propel the growth of the load balancer market going forward.
Competitive Landscape:
Major companies operating in the load balancer market report are A10 Networks Inc., KEMP Technologies Inc., Hewlett-Packard Development Company L. P., Inlab Networks GmbH, Nginx Inc., F5 Networks Inc., Citrix Systems Inc., Radware Ltd., Barracuda Networks Inc., Brocade Communications Systems Inc., Fortinet Inc., Pulse Secure LLC, HAProxy Technologies Inc., Avi Networks Inc., Loadbalancer. org Ltd., Array Networks Inc., Imperva Inc., H3C Technologies Co. Limited, Zevenet S. L., Riverbed Technology Inc., Cloudflare Inc., Microsoft Corporation, Amazon Web Services Inc., Cisco Systems Inc., Sangfor Technologies Co. Ltd., Juniper Networks Inc., AireSpring Inc., NFWare Ltd.
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Top Trend - Technological Advancements Drive Innovation In The Load Balancer Market
Technological advancements in load balancers have emerged as a key trend in the load balancer market. Major companies operating in the market are developing advanced technologies such as the ZeroLB, which uses a pattern for load balancing technology, to sustain their position in the market. For instance, in 2021, Kong Inc., a US-based manufacturer of cloud connectivity companies, introduced ZeroLB, a modern, decentralized load balancing pattern that seeks to eliminate every load balancer installed in front of specific services and applications. ZeroLB eliminates the need for hardware, software, and elastic cloud load balancers. This technology can also handle many devices by executing applications and helping with load control.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Load Balancer Market Characteristics
3. Load Balancer Market Trends And Strategies
4. Load Balancer Market - Macro Economic Scenario
5. Load Balancer Market Size And Growth
…..
27. Load Balancer Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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