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Content Delivery Network Market Trends, Strategies, Size, Share And Analysis 2024-2033
Content Delivery Network Market Trends
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According to The Business Research Company's, The content delivery network market size has grown rapidly in recent years. It will grow from $22.35 billion in 2023 to $26.35 billion in 2024 at a compound annual growth rate (CAGR) of 17.9%. The growth in the historic period can be attributed to internet traffic growth, globalization of internet services, mobile internet usage, user experience optimization, security concerns, .
The content delivery network market size is expected to see rapid growth in the next few years. It will grow to $53.42 billion in 2028 at a compound annual growth rate (CAGR) of 19.3%. The growth in the forecast period can be attributed to dynamic content personalization, quality of service improvements, interactive content delivery, content streaming standardization, global events and peak traffic handling.. Major trends in the forecast period include rise in online content consumption, security features and ddos mitigation, multi-cloud cdn deployments, video streaming optimization, mobile content delivery optimization, application programming interface (api) protection, global expansion of cdn networks..
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Market Drivers and Trends:
The increase in usage of the internet and smart devices is expected to propel the growth of the content delivery network market. The number of smartphone users has increased significantly over the world due to its ease and the services offered. These services provide door-to-door services to their users which makes them convenient for use. Smartphones have access to the internet that provides a better outlook on the various social media applications where content is generated and uploaded every second. According to Bankmycell, a buyback mobile store in the USA, in 2022, the number of smartphones users are 6.648 billion globally is 83.89 % of the population. Moreover, there are 7.92 billion mobile connections in the world. It is predicted that by 2025, 72 % of all internet users will access the internet only through their smartphones. Such rising usage of the internet and smart devices is expected to drive the content delivery network market growth.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
Akamai Technologies, Microsoft Corporation, Google LLC.,AT&T Inc., Amazon Web Services Inc., Limelight Networks, Fastly Inc., Cloudflare Inc.,Verizon Communications Inc. , IBM Corporation, Tata Communications Ltd., OnApp Limited,Quantil Inc., Alibaba. com, Citrix Systems, CenturyLink Technology Singapore Pte. Ltd, Lumen Technologies, StackPath LLC., Deutsche Telekom AG, G-Core Labs S. A, Rackspace Technology, Tencent Cloud, Kingsoft Corporation Ltd., iScaler Ltd., Imperva Inc., CDNetworks Co. Ltd., DataCamp Limited, Sucuri Inc., CacheNetworks LLC., Leaseweb, Internap Holding LLC.
Content Delivery Network Market 2024 Key Insights:
• The content delivery network market size is expected to see rapid growth in the next few years. It will grow to $53.42 billion in 2028 at a compound annual growth rate (CAGR) of 19.3%.
• Explosive Growth In Internet Usage And Smartphone Adoption Set To Propel Content Delivery Network Market
• Global Tech Giants Forge Strategic Alliances To Drive Cdn Market Expansion And Digital Transformation
• North America was the largest region in the content delivery network market in 2023
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