New York, United States, March 06, 2024 (GLOBE NEWSWIRE) -- A load balancer distributes network or application traffic among a server cluster. Balancing the load controls the traffic or information flow between the server and an endpoint device. With the help of this device, servers can offer applications more efficiently, avoid server overload, and carry data more effectively. To ensure effective request handling, the load balancer also continuously scans networks on servers. The ability to start the creation of additional virtualized application servers is also demonstrated by a server's ability to handle the increasing client demand.
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Global Governments' Ongoing Digital Transformation Initiative Drives the Global Market
According to Straits Research, “The global load balancer market revenue was valued at USD 4.29 billion in 2021. It is projected to reach USD 13.32 billion by 2030, growing at a CAGR of 13.40% during the forecast period (2022–2030).” Large-scale data collection has become more critical to industries because data-driven enterprises use analytics to uncover insights. The success of the digital transformation depends on creating a sizable number of data silos. While funding for change is necessary and demanding, it may be challenging. Governments worldwide, particularly in developing countries, have developed digital transformation projects to encourage the quick transformation of industries. For instance, to help businesses improve the nation's digital infrastructure and internet access, the Indian government introduced the Digital India program. Through digital transformation, the ICT-enabled improvements in organizational structure, documentation, services, and systems are enhanced. Another significant element expected to propel the market's growth is investments in the switch from old to digital networks.
Growing Demand for IoT, AI, and Software-Defined Networking Technologies Creates Tremendous Opportunities
Due to the surge in demand for load balancing brought on by the increased prevalence of connected devices, the market is predicted to grow in the upcoming years. In the IoT era, load balancer usage is also expanding quickly due to the need for robust request processing due to device interconnectivity. The development of multi-access edge computing and the widespread use of sensors by many industries worldwide foster the load balancer market's expansion. The demand for load balancing components is increasing since artificial intelligence solutions require high responsiveness and models. A substantial opportunity for market expansion is also predicted with the introduction of software-defined networking technologies and developments in platform-independent applications. As network infrastructure develops, load balancers are also anticipated to gain popularity since they streamline architecture and improve system performance.
Regional Analysis
North America's oad balancer market share is expected to grow at a CAGR of 11.9% during the forecast period. As more companies integrate load balancers into their infrastructure and systems to keep them flexible and scalable, the market is anticipated to grow. The primary forces for market expansion in this region include its early adoption of cutting-edge technologies and high ICT investment.
Europe is anticipated to grow at a CAGR of 12.30%, during the forecast period. In Europe, load balancers were initially applied. In this area, smart load balancing is becoming a crucial part of running modern businesses. Despite the widespread use of load balancers by enterprises, new technologies are compelling makers of load balancers to create innovative features and compatibility updates. The adoption of load balancers has surged across all industries globally due to the rise of various software applications and the size and architecture of data centers.
The Asia-Pacific area is a valuable market for load-balancing services and goods suppliers. This can be explained by the presence of significant growing economies, in addition to the sizeable consumer bases in various industries. The increase in server virtualization, cloud-based load balancing services, and data center traffic among enterprises are critical elements anticipated to drive the market's expansion in that area. Future dominance in the field is projected due to continuous digitalization activities.
Key Highlights
- Based on components, the global load balancer market is bifurcated into hardware, software, and services. The software segment is the highest contributor to the market and is expected to grow at a CAGR of 15.40% during the forecast period.
- Based on type, the global load balancer market is bifurcated into local and global load balancers. The global load balancers segment owns the largest market share and is expected to grow at a CAGR of 17.90% during the forecast period.
- Based on deployment, the global load balancer market is bifurcated into on-premise and cloud. The cloud segment is the most significant contributor to the market and is anticipated to grow at a CAGR of 15.20% during the forecast period.
- Based on enterprise size, the global load balancer market is bifurcated into large enterprises and small and medium enterprises. The large enterprise segment owns the largest market share and is anticipated to grow at a CAGR of 12.50% during the forecast period.
- Based on industry vertical, the global load balancer market is bifurcated into BFSI, IT and telecom, retail, government, manufacturing, media and entertainment, healthcare, and others. The IT and telecom segment is the highest contributor to the market and is expected to grow at a CAGR of 12.1% during the projected period.
- North America is the largest global load balancer market shareholder and is expected to grow at a CAGR of 11.9% during the forecast period.
Competitive Players
The global load balancer market’s major key players are A10 Networks, Inc, Amazon Web Services, Inc, Citrix Systems, Inc, Citrix Systems, Inc, Google LLC, Imperva, International Business Machines Corporation, Kemp Technologies Inc, Microsoft Corporation, Radware, and Others.
Market News
- In May 2022, A10 Networks- The epidemic is known to have increased the number of cyberattacks, including malware, ransomware, and DDoS attacks. Threat actors have targeted essential infrastructures, such as food supply chains, utilities, and governmental organizations, in addition to the services people depend on daily, such as healthcare, education, and finance. As a result, the number of weapons employed to launch these strikes has dramatically increased.
- In August 2022, Since the pandemic outbreak, essential infrastructures, such as gas pipelines and food supply, have become the nature and target of cyberattacks, moving quickly away from detailed data and applications. Threat actors have also intensified their targeting of organizations significantly touched by the pandemic, such as healthcare and educational institutions.
Global Load Balancer Market: Segmentation
By Components
- Hardware
- Software
- Services
By Type
- Local Load Balancers
- Global Load Balancers
By Deployment
- On-Premise
- Cloud
By Organization Size
- Large Enterprises
- Small and Medium Enterprises (SMEs)
By Industry Vertical
- BFSI
- IT and Telecom
- Retail
- Government
- Manufacturing
- Media and Entertainment
- Healthcare
- Others
By Regions
- North America
- Europe
- Asia-Pacific
- LAMEA
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