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Load Balancer Market Trends and Global Forecast | 2024 To 2033 Key Players A10 Networks Inc., KEMP Technologies Inc., Hewlett-Packard Development Company L. P., Inlab Networks GmbH, Nginx Inc.
Load Balancer Market Size
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According to The Business Research Company's, 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 Drivers and Trends:
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.
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:
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.
Load Balancer Market 2024 Key Insights:
• 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 Surge In Connected Device Adoption Fuels Load Balancer Market Growth
• Technological Advancements Drive Innovation In The Load Balancer Market
• North America was the largest region in the load balancer market in 2023
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