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Mobile Content Delivery Network Market 2024: Trends, Insights, and Growth
Mobile Content Delivery Network Market 2024
According to The Business Research Company's, The mobile content delivery network market size has grown exponentially in recent years. It will grow from $29.87 billion in 2023 to $36.96 billion in 2024 at a compound annual growth rate (CAGR) of 23.8%. The growth in the historic period can be attributed to increasing smartphone penetration and growing mobile data usage, the increasing penetration of digital electronics, rising number of smart devices, increasing mobile data consumption, increasing mobile data traffic.
The mobile content delivery network market size is expected to see exponential growth in the next few years. It will grow to $87.25 billion in 2028 at a compound annual growth rate (CAGR) of 24.0%. The growth in the forecast period can be attributed to availability of internet access in developing countries, increasing mobile gaming, increasing adoption of bring your own device, rise of video streaming, growth of video streaming. Major trends in the forecast period include 5G network, video optimization, edge computing, IoT support, serverless architectures.
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Market Drivers and Trends:
The rising number of smart devices is expected to propel the growth of the mobile content delivery network market going forward. Smart devices are electronic devices equipped with built-in computing and communication capabilities, allowing them to connect to the internet, interact with users, and often perform tasks autonomously or in response to commands. The increase in smart devices is driven by their transformative benefits regarding convenience, energy efficiency, security, entertainment, and sustainability. Smart devices support multimedia content formats, including high-definition videos, augmented reality (AR) applications, virtual reality (VR) experiences, and interactive web applications. For instance, according to Hippo Insurance, a US-based property insurance company, around 69% of households in the U.S. have at least one smart device in 2022, which is predicted to increase by 15% in 2024. Therefore, the rising number of smart devices is driving the growth of the mobile content delivery network market.
Major companies operating in the mobile content delivery network market are focusing on developing innovative technologies, such as Edge CDN, to improve the customer experience. Edge content refers to data and services delivered and processed closer to the end-users at the edge of a network rather than centrally in data centers or the cloud. For instance, in September 2022, Bharti Airtel Limited., an India-based telecommunications services company, launched Edge CDN, accelerating web and video content delivery by utilizing its edge network to bring content closer to users. This aims to enhance the quality of videos and other media consumed by Airtel's extensive subscriber base.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Amazon Web Services Inc, Google LLC, Microsoft Corporation, Verizon Media LLC, AT&T Inc, Deutsche Telekom AG, NTT Communications Corporation, Ericsson AB, Lumen Technologies Inc, Akamai Technologies Inc, Citrix Systems Inc, Rackspace Technology Inc, Cloudflare Inc, Imperva Inc, Fastly Inc, Limelight Networks Inc, Internap Corporation, StackPath LLC, Comcast Technology Solutions LLC, DataCamp Limited, CacheNetworks LLC, Swarmify Inc, PeerApp Ltd, CDNetworks Inc, ChinaCache International Holdings Ltd.
Mobile Content Delivery Network Market 2024 Key Insights:
• The mobile content delivery network market size is expected to see exponential growth in the next few years. It will grow to $87.25 billion in 2028 at a compound annual growth rate (CAGR) of 24.0%.
• Smart Device Proliferation Fueling Mobile Content Delivery Network (CDN) Market Growth
• Increasing Focus On Innovations In Mobile CDN Technologies
• North America was the largest region in the mobile content delivery network market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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