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According to The Business Research Company’s research on the load balancer market, 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 they offer to the 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 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 connections 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. Further, according to ITPro, a US-based technology newspaper, in 2020, about 38% of Americans added more internet-connected devices to their homes during the pandemic which is only 25% in 2019. Therefore, the rising adoption of connected devices is expected to propel the growth of the load balancer industry going forward.
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The global load balancer market size is expected to grow from $4.29 billion in 2021 to $4.93 billion in 2022 at a compound annual growth rate (CAGR) of 14.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The load balancer market share is expected to grow to $8.35 billion in 2026 at a compound annual growth rate (CAGR) of 14.1%.
Technological advancements in load balancers have emerged as a key trend in the load balancer market. Major companies operating in the load balancer market are developing advanced technologies such as the ZeroLB that uses a pattern for load balancing technology to sustain their position in the market. For instance, in 2021, Kong Inc, a US-based manufacturer of cloud connectivity companies introduced ZeroLB - a modern, decentralized load balancing pattern that seeks to eliminate every load balancer installed in front of specific services and applications. ZeroLB eliminates the need for hardware, software, and elastic cloud load balancers. This technology can also handle many devices by executing applications and helps in load control.
The global load balancer market analysis is segmented by type into local load balancer, global load balancer; by component into hardware, software, services; by enterprise size into large enterprises, small and medium-sized enterprises; by deployment into on-premise, cloud; by industry vertical into banking, financial services and insurance (BFSI), information technology (IT) and telecom, retail, government, manufacturing, media and entertainment, healthcare, other industries.
Major players in the load balancer market are A10 Networks, Kemp Technologies, Hewlett-Packard Development Company, Inlab Networks GmbH, Nginx, Azure Traffic Manage, HAProxy, Varnish Software, Amazon Web Services Inc, Loadbalancerorg, Traefik, Cisco Systems Inc, Cloudflare Inc, Radware and Palo Alto Networks.
North America was the largest region in the load balancer market in 2021. Asia-Pacific is expected to be the fastest-growing region in the load balancer market during the forecast period. The regions covered in the load balancer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Load Balancer Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide load balancer market forecast size and growth, load balancer market segments, load balancer market trends, load balancer market drivers and restraints, load balancer market leading competitors’ revenues, profiles and market shares in its competitive landscape section for over 3,000 industry reports, covering more than 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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