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$8.90 Billion by 2027 | Global Load Balancer Market Surges as Cloud Computing Dominates IT Landscape
Load Balancer Market
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According to the report published by Allied Market Research, the global load balancer market generated $3.39 billion in 2019, and is estimated to reach $8.90 billion by 2027, registering a CAGR of 12.9% from 2020 to 2027.
Load balancing is a set of processes that handles multitude of server requests from modern multi-application and multi-device workflows. Its primary function is to balance the workloads and to distribute network traffic across multiple servers. In addition, load balancer ensures that no single server bears excessive requests or demands. In addition, it is incorporated in application delivery controllers (ADCs) or software-defined load balancing algorithms. Increase in need for business continuity and data load efficiently, especially in IT and telecom industry is significantly driving the growth of global load balancer market during the forecast period.
High adoption of cloud-based load-balancing services in data centers to manage data traffic and server virtualization and ongoing digital transformation initiatives by governments across the globe augment the growth of the global load balancer market. In addition, the increased network complexity and varied terrific pattern due to transformations in telecommunication infrastructure fuels the market growth. Conversely, limited bandwidth providers due to legacy infrastructure impedes the market growth. Nevertheless, emergence of IoT, AI, and software-defined networking technologies usher a number of opportunities in the near future.
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In 2027, the global load balancer market is expected to be predominantly led by the global load balancer segment, driven by the growing adoption of multi-cloud deployment. This surge is fueled by the imperative need for ensuring uninterrupted business operations and global disaster recovery support in the face of site or regional-level disruptions.
Among various industry verticals, the IT & telecom sector emerged as a significant contributor to the load balancer market. This is primarily due to data center servers being the primary users of load balancers. Additionally, the ongoing digital transformation and increasing migration to cloud services across industries further bolster this demand. Telecom companies, in particular, are prioritizing load balancers to uphold their brand reputation by preventing service outages.
In 2019, the local load balancer segment held the largest share of the global load balancer market, comprising nearly three-fifths and is anticipated to maintain this dominant position throughout the forecast period. The segment's growth is propelled by an increase in data centers and the growing demand for rapid application delivery. However, the global load balancer segment is projected to exhibit the highest compound annual growth rate (CAGR) of 17.0% during the forecast period. This growth is attributed to the role of Global Server Load Balancing (GSLB) in efficiently directing network traffic among networks or data centers across different geographical locations.
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Regarding components, the hardware segment led the market in 2019, contributing to almost two-fifths of the global load balancer market, and is expected to remain dominant in the forecast period. On the contrary, the software segment is forecasted to witness the highest CAGR of 14.6% from 2020 to 2027. This growth is fueled by the increasing adoption of Software as a Service (SaaS), driving demand for scalable, programmable, and reliable software load balancers. Moreover, the use of software-based applications reduces the need for hardware modifications, further bolstering the growth of this segment.
Geographically, North America dominated the global load balancer market in 2019 and is expected to continue its dominance. This can be attributed to the presence of leading load balancer developers and a substantial portion of ICT spending in the region. Moreover, the concentration of load balancer industry players in the U.S. facilitates the provision of tailored solutions and fosters continuous innovation to stay competitive in the market.
The COVID-19 pandemic is projected to positively influence the growth of the load balancer market. The increased adoption of load balancers in data centers is driven by the surge in internet traffic. Enterprises are turning to load balancers to mitigate latency issues and optimize web performance amid the shift to remote work setups. Furthermore, cloud service providers are emphasizing both local and global load balancing solutions, alongside WAN optimization, to bolster disaster recovery capabilities and minimize user latency.
Leading market players-
• Google LLC
• IBM Corporation
• Imperva
• Kemp Technologies Inc.
• Microsoft Corporation
• Radware Ltd
• A1o Networks Inc.
• Amazon Web Services Inc.
• Citrix Systems Inc.
• F5 Networks Inc.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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