According to the latest report by IMARC Group, titled “Load Balancer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global load balancer market size reached a value of US$ 4.3 Billion in 2021. Load balancers are devices that use multiple servers to distribute network traffic efficiently and effectively. They handle the unending information exchange between a server and an endpoint device as a reverse proxy. Load balancers can be virtual tools or equipment appliances built on an upgraded stage that handle different basic functions. In addition, they ensure high reliability by sending requests to online servers to allocate application or network traffic. While executing application-specific tasks, they reduce the load on servers associated with keeping up and dealing with application and organization meetings.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Load Balancer Market Trends:
The global market is primarily driven by the increasing awareness among enterprises regarding cloud computing solutions. This can be attributed to the rapid utilization of cloud-based arrangements and internet relay chat arrangements with a high degree of repetitiveness. In addition to this, rapid digitization resulting in a paradigm shift towards technologies and solutions that assist in reducing operational and production costs is providing an impetus to the market. The augmenting adoption of advanced data traffic management solutions among numerous small and medium-sized enterprises (SMEs) is also creating a positive market outlook. Furthermore, the incorporation of artificial intelligence (AI), big data analytics and the internet of things (IoT) in business operations are resulting in a higher product uptake. Some of the other factors contributing to the market include rapid industrialization, penetration of high-speed 5G internet, inflating disposable income levels, and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 8.9 Billion by 2027, exhibiting a CAGR of 13.1% during 2022-2027.
- Based on the type, the market has been segmented into local load balancers and global load balancers.
- On the basis of the component, the market has been divided into hardware, software, and services.
- Based on the deployment mode, the market has been categorized into on-premises and cloud-based.
- On the basis of the enterprise size, the market has been classified into small and medium-sized enterprises and large enterprises.
- Based on the end use industry, the market has been segmented into BFSI, IT and telecom, retail, government, manufacturing, media and entertainment, healthcare, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include A10 Networks Inc., Amazon Web Services Inc. (Amazon.com Inc), Array Networks Inc., Cisco Systems Inc., Citrix Systems Inc., Cloudflare Inc., F5 Inc., Fastly Inc., Fortinet Inc., Google LLC, Hewlett Packard Enterprise Development LP, International Business Machines Corporation, Microsoft Corporation, Palo Alto Networks Inc., and Radware Ltd.
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