New York, Oct. 19, 2022 (GLOBE NEWSWIRE) -- Kenneth Research has published a detailed market report on ‘Global Web Performance Market’ for the forecast period, i.e. 2022 – 2031, which includes the following factors:
- Market growth over the forecast period
- Detailed regional synopsis
- Market segmentation
- Growth drivers and challenges
- Profiling of key market players
Global Web Performance Market Size:
The global web performance market catered the revenue figure of USD 5.4 billion in the year 2021 and is anticipated to garner a handsome revenue by the end of year 2031, by growing at a CAGR of ~12% over the forecast period, i.e., 2022 – 2031. The growth of the market can be primarily attributed to the rise in number of smart phone users across the globe, rising security breaches, and increasing sales of the e-commerce industry. As sourced from the U.S Department of Commerce, in the year 2020, e-commerce sales accounted for 13.6 percent of total sales made online. Moreover, the proliferation of images, videos, and media on the internet, and growing dependence of enterprises on web-based solutions and services, are few factors anticipated to drive the growth of the market. Besides, expanding implementation of web performance optimization technique by highly regulated industries such as nuclear industry, finance & insurance industry, and manufacturing industries among others is also expected to be a major aspect for the growth of the market. In addition, growing cases of cyber-attacks, targeting enterprise websites is also expected to add to the market growth.
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Global Web Performance Market: Key Takeaways
- The North America region gained a modest portion of the revenue in the year 2021
- The large enterprises sub-segment to dominate the revenue graph
- Healthcare sub-segment remains prominent in the end users segment
Rapid Digitalization across Various Organizations around the World to Boost Market Growth
The speed at which web pages are downloaded and displayed on a user's web browser is known as web performance. It is directly linked to web performance optimization (WPO), often known as website optimization, which is the study of how to improve the performance of a website. Furthermore, web performance can be measured manually or automatically, however coordinating multiple clients viewing a website at the same time becomes problematic. For enterprises, especially in the e-commerce industry, web performance offers improved visibility and control required for managing changes associated with the complexity of website related statistical data. It also prevents the trend of rising security breaches. It was noted that, enterprises across the globe, faced an average of 20 security breaches in 2020 and this number is estimated to grow over the forecast period. Hence, this is expected to fuel the growth of the global web performance market significantly over the forecast period.
In addition to this, digitalization across various enterprises has been increasing throughout the years and is expected to increase even more over the projected years. Along with that, expenditure behind digitalization is also growing rapidly. For instance, nearly 65% of the world’s Gross Domestic Product (GDP) is predicted to be digitized by 2022, and digitally transformed organizations are projected to contribute to more than half of the global gross domestic product (GDP) by 2023, accounting for nearly USD 54 trillion. Hence, this is estimated to be a major factor to propel the growth of the global web performance market.
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Global Web Performance Market: Regional Overview
The global web performance market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Technological Advancements in Online Platform Based Services to Propel the Market in the North America Region
The market in North America witnessed a modest growth in the year 2021. The growth of the market can be attributed to the shift from the traditional approach of marketing to online platforms, creating a demand for websites and applications, thereby encouraging the need for web performance in the North America region. Moreover, online platform and cloud friendly policies and laws by the government are adding to the market growth in the region. Furthermore, the U.S in the North America region is one of the countries with the best cloud based strategies for the organizations. As per the U.S. Department of the Interior, a cloud smart strategy was introduced in the year 2018 that provides guidelines related to security, labor skills and procurement for faster cloud adoption. Moreover, technical advancements in e-commerce systems are estimated to fuel the growth of the web performance market in the North America region.
Increasing Internet Penetration among the Regional Population to Favor Market Growth in the Asia Pacific Region
On the other hand, web performance market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period. The market growth can be attributed to the presence of credible organizations that are leaning more towards the adoption of advanced technologies, followed by the growing ecommerce industry. Moreover, the increasing adoption of cloud services, and high internet penetration are further expected to drive the market growth in this region. As per The World Bank, in China, 70% of the total population used the internet in the year 2020, and the usage rate is better as compared to other countries.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific.
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Web Performance Market, Segmentation by Organization Size
- Small & Medium Enterprises (SMEs)
- Large Enterprises
The large enterprises segment is anticipated to hold the largest market share in value by growing at a significant CAGR during the forecast period. The growth of the segment can be attributed to the requirement of large enterprises to outsource their services so that they can focus on key activities. Additionally, outsourcing of services to other organizations reduces their costs and improves their service quality. It was observed that, globally, 59% of companies outsource to cut costs. Furthermore, nearly 15 million jobs are outsourced from the US.
Global Web Performance Market, Segmentation by End Users
- IT & Telecom
- Healthcare
- Automobile
- Logistics & Transportation
- Media & Entertainment
- Others
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The healthcare segment is anticipated to have a substantial growth in the global software defined infrastructure market over the forecast period on the back of the increasing awareness in healthcare, increasing diagnosis rate, which results in increasing visits to healthcare facilities, existence of a huge patient pool in healthcare industry, and increasing health expenditure per capita among the global population. It was noted that, as of 2019, current health expenditure per capita among the global population was USD 1,121.97.
Global Web Performance Market, Segmentation by Solution Type
- Software
- Optimization
- Monitoring
- Testing
- Service
- Implementation
- Consulting
- Managed
Global Web Performance Market, Segmentation by Deployment
- Cloud
- On-Premise
Few of the well-known market leaders in the global web performance market that are profiled by Kenneth Research are Akamai Technologies, Cavisson Systems Inc., CDNetworks Inc., Cloudfare, Inc., Dynatrace LLC., TransUnion LLC., Micro Focus, New Relic, Inc., Cisco Systems, Inc., F5, Inc., and others.
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Recent Developments in the Global Web Performance Market
- In February 2022, to assure email security on the Zero Trust platform, Cloudfare announced the acquisition of Aera 1 Security.
- In December 2021, in order to facilitate challenging mainframe modernisation projects, Micro Focus declared that it is joining the Amazon Web Services (AWS) Mainframe Modernization.
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