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Cloud Load Balancers Market Forecast 2024-2033 - Major Trends, Segments And Fastest Growing Regions | Google LLC , Microsoft Corporation, Amazon Web Services Inc., Cisco Systems Inc., Broadcom Inc
Cloud Load Balancers Global Market Report 2024
The cloud load balancers market size is expected to see rapid growth in the next few years. It will grow to $19.14 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The growth in the forecast period can be attributed to edge computing expansion, hybrid cloud adoption, 5g rollout, zero trust security, and IoT growth. Major trends in the forecast period include a shift towards software-defined load balancing, AI-driven traffic optimization, API-driven load balancing, integration with service mesh technologies, rise of edge load balancers.
Market Overview -
A cloud load balancer is a networking component used in cloud computing environments to efficiently distribute incoming network traffic across servers or resources to ensure optimal performance and prevent any single server from becoming overloaded. It is used to optimize the performance, availability, and security of applications and services in cloud computing environments, provide a centralized mechanism for managing and distributing network traffic, and enable organizations to deliver scalable, reliable, and highly available applications to their users.
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Rising Online Gaming Population Fueling The Demand For Cloud Load Balancers
The increasing number of online gamers is expected to propel the growth of the cloud load balancers market going forward. Online gamers are individuals who participate in multiplayer video games over the internet, interacting with other players in virtual environments. The number of online gamers is growing due to the increasing popularity of online multiplayer games, advancements in blockchain-based technologies, and the rise of competitive gaming tournaments and esports. Cloud load balancers distribute traffic across online gaming platforms, guaranteeing low-latency connections, enhancing game performance, and evenly distributing the load during periods of high gaming activity. For instance, in May 2023, according to Uswitch Limited., a UK-based online comparison and switching service, the number of online gamers globally in 2022 reached 3.2 billion and is forecast to reach 5.7 billion by 2032, an increase of 44% from 2022. Therefore, the increasing number of online gamers is driving the growth of the cloud load balancers market.
Competitive Landscape -
Major companies operating in the cloud load balancers market are Google LLC , Microsoft Corporation, Amazon Web Services Inc., Cisco Systems Inc., Broadcom Inc., VMware Inc., Snapt Inc., Fortinet Inc., Citrix Systems Inc., F5 Networks Inc., Array Networks Inc., Sangfor Technologies Inc., Cloudflare Inc., DigitalOcean Inc ., Riverbed Technology Inc., Imperva Inc., Barracuda Networks Inc., Radware Ltd., A10 Networks Inc., Scaleway Inc., Kemp Technologies Inc., Aviatrix Systems, Linode LLC, HAProxy Technologies LLC, NGINX Inc., Edgenexus Ltd., Loadbalancerorg Ltd., Total Uptime Technologies LLC, Zevenet SL, Inlab Networks Pty Ltd.
Development Of Security-Driven Load Balancing Solutions For Secure Connectivity
Major companies operating in the cloud load balancers market are focusing on developing security-driven load balancing solutions, such as managed load balancers, to gain a competitive edge in the market. Managed Load Balancer is a load balancer with an SSL certificate that includes SSL/TLS encryption capabilities for securing data transmission between clients and servers. For instance, in March 2022, UpCloud, a Finland-based cloud service provider, launched Managed Load Balancer to simplify load balancing for cloud services. It offers easy setup via an intuitive control panel or API, with plans for development and production. The production plan ensures high availability with a dual-node setup, supporting up to 50,000 concurrent connections per node. Managed load balancer and SSL certificate manager, aiming to streamline operations and enhance resilience in cloud infrastructure. Available in open beta, it has stress-free load distribution.
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Key Segments -
The cloud load balancers market covered in this report is segmented -
1) By Component : Hardware, Software, Services, Training And Consulting, Integration And Deployment, Support And Maintenance
2) By Organization Size: Large Scale, Small And Medium-sized Enterprises
3) By Vertical: Banking, Financial Services And Insurance (BFSI), Information technology (IT) And Telecom, Healthcare, Retail, Government And Defense, Other Verticals
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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