Web Performance Market Size is forecast to reach $6.9 billion by 2026, at a CAGR of 8.8% during 2021-2026.For the purpose of improving the web performance significantly, firms use application delivery controllers to help performing common tasks such as web accelerators. Proliferation of images, videos and rich media on the web along with the rise in growth of E-commerce industry has driven the growth of the market owing to the rise in internet usage and mobile penetration. The rising need for improved user experience and content delivery network as well as managing transmission control protocol, hypertext transfer protocol and utilizing hypertext markup language will drive market growth. Surge in internet usage, web performance solution tools in the logistics and transportation sector, BFSI sector and others have driven the market growth. Surging prevalence of E-commerce have boosted the growth of the market as the e-commerce site for performance not only gives the online shopping experience but also enables the website to be armed and organized against threats, such as becoming non-compliant to privacy laws.
Web Performance Market Segment Analysis – By Deployment Type
The Cloud Deployment sector segment is growing at a significant market value of 37.5% in 2020 as the digitization in various end use industries such as Automotive, transportation and logistics and others uses web based information, and technology to obtain enhanced safety, reduce operational costs, and gain better productivity. The adoption of cloud technology which provides real-time data and store huge data securely, rapid industrialization and leveraging advanced technologies and increasing investments in digital technologies to create digital environment has positively impacted the growth of the market. Private cloud provides the ability to spend more on the hardware and storage options due to which large enterprises use more the private cloud. Private cloud is a software-as-service platform for storing and accessing critical data. All these factors are analyzed to boost the growth of the market in the forecast period 2020-2026.
Web Performance Market Segment Analysis – By End Users
Transportation and Logistics is expected to witness a highest CAGR of 10.4% during the forecast period as is considered as one of the prominent end-use industries conducting operations including supply chain management, warehouse management, inventory management, fleet management, contract management and so on. As these operations need to be performed with utmost accuracy, web performance solution can help in optimizing productivity standards through real-time analysis of data, while reducing human errors or longer delivery times. Web performance has provided many benefits to logistics industry due to offering a user-friendly business application, which provides real time information required to make business transformation decisions as well as achieve greater customer satisfaction by addressing all the major glitches or challenges faced by transport or logistic service providers. Tariff setup or calculation, vehicle or consignment tracking, interpretation of business data records regarding imports or exports and so on act as some of the major drivers in the growth of Web Performance Market.
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Web Performance Market Segment Analysis – By Geography
Web Performance Market in North America region held significant market share of 35.9% in 2020. Cloud infrastructure spending in US has significantly risen in the past year to accelerate digital transformation. This leads to rising demand for cloud-based web performance software in the U.S. According to the U.S. Small Business Administration, there are 31.7 billion small and medium-sized businesses in the country, many of whom use web performance software and services to reduce costs and complexity involved in internal technological systems. Growing technology-focused projects and rising IT budgets in enterprises are expected to boost the web performance market in the coming years in this region. The technological shift toward enhancing information portability, corporate standards, and norms are likely to focus more on data-centric solutions, driving the web performance market over the forecast period.
Web Performance Market Drivers
Surge in adoption of web performance solutions by the SMEs and LE:
Small and medium-sized enterprises (SMEs) have integrated web performance solutions and services to regulate and monitor business processes, which are expected to generate revenue. Due to limited funding, start-ups and SMEs are unable to invest in significant infrastructure requirements and cutting-edge technologies. As a result, cloud-based services are preferred by the vast majority of SMEs. As digitalization affects the contours of organisations across industries, the concept of small and medium-sized business models is destined to take on many new connotations. Automation’s penetration in enterprises of all sizes, large and small, is now the sole avenue that creates a level playing field for both large and small organisations. It is safe to conclude that in the coming years, the seamless deployment of SME web performance services will be the core competency that differentiates businesses.
Surge in adoption of web performance solution and services in automotive:
Implementation of web performance software helps the automotive manufacturers to adapt the customer or user experience while meeting as well as taking advantage of changing business environments, alongside assisting in the management of processes causing improved production as well as delivery of high-end components. Since deployment of web performance solution adds up to the operational efficiency of auto manufacturing companies, they have gained much popularity over the time. Auto manufacturers are able to anticipate the demand for products or materials in advance, eventually helping to plan production as well as procurement processes through the web performance solutions thereby driving the growth of the market.
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Web Performance Market Challenges:
Relatively high initial cost and maintenance cost:
Although cloud deployment has become an essential part of End Use industry to maintain high level of security and encryption, the community cloud model have high initial cost as compared to the public cloud models along with high maintenance cost. In addition, cloud deployment has limited bandwidth and storage due to which multiple organizations sharing the same bandwidth and resources becoming a matter of concern. This bandwidth and maintenance cost in cloud model of applications are analyzed to restrain the growth of the market in the forecast period 2021-2026.
Web Performance Market Landscape
Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Web Performance Market. Web Performance Market top 10 companies include IBM Corporation, F5, Inc., Akamai Technologies, Inc., Micro Focus International PLC, SolarWinds Worldwide, LLC, CA Technologies, Cavission, Neustar, ZenQ, Netmagic, Dynatrace, CD Networks . among others
In 2020, F5, Inc. introduced web performance solution named “Silverline Shape Defense” to improve web security and performance from rising tide of fake internet traffic.
In 2020, ThousandEyes, Inc. was acquired by Cisco System to improve the web and application performance across all networks the business relies.
Surge in the web based optimization along with the use of digital technology in end use industry activity helps web performance vendors to minimize overall operational costs, enhance business productivity, and upgrade end-use practices that drive the growth of the market.
Transportation and Logistics witnessed a significant growth in the market as it provides real-time planning, predictive maintenance, risk assessment, record management, and others that allow faster decision making and improves performance of End users.
North America is witnessing a major growth in the market with increased adoption of cloud-based services in small and medium-sized organizations and attribute to propel the market.
Application Performance Management Market
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