New York, Aug. 28, 2023 (GLOBE NEWSWIRE) -- The global content delivery network market size is slated to expand at ~ 24 % CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 80 billion by the end of 2035, up from a revenue of ~USD 19 billion in the year 2022. This growth is poised to be dominated by growth in a number of people using the internet. Internet users represented about 4 billion people around the world as of April 2023, or approximately 63% of the world's population. The Internet has brought the world together by making communication easier across borders and information easily assessable. However, with the deployment of a content delivery network, the process has become more efficient.
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A content delivery network (CDN) is a network of internet servers or points of presence (PoP) that is deployed worldwide and its primary objective is to deliver material more quickly. The material is copied and maintained throughout the CDN to ensure the user has access to data stored at the place that is relatively nearest to the user. Instance of CDN is Netflix which delivers video without any buffering since they have huge multimedia files saved for their user. Therefore, also with the growing number of Netflix video streamers the market for content delivery networks is set to grow. As of Q2 2023, Netflix had over 237 million paid customers globally, making it a top subscription-based streaming provider.
Content Delivery Network Market: Key Takeaways
- Market in North America region to propel the highest share.
- The dynamic segment to garner the highest growth
- Market in Asia Pacific market to grow at a significant rate
Rising E-Commerce Activity to Boost the Growth of Global Content Delivery Network Market
The number of consumers who shop online globally is growing along with ecommerce. As of 2023, there are about 3 billion digital consumers globally. This represents approximately 34% of the world's population. Hence, the e-commerce sites are extensively deploying content delivery network. Regardless of bandwidth (traffic levels) or location of the user, CDNs allow ecommerce websites to instantly distribute information that includes photos and other types of files. Users that reside hundreds or thousands of kilometers away from the host servers would have much slower load times for online retailers without CDNs. Therefore, the importance of CDN is growing.
Content Delivery Network Market: Regional Overview
The global content delivery network market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Surge in Growing Bank Activity to Drive the Growth of Global Content Delivery Network
The market in North America for content delivery network is anticipated to grow at a share of 35% over the coming years. The major factor to influence the market share in this region is surge in growing bank activity. Around 107.9 million American homes, or around 81.5 percent, were reportedly "fully banked" in 2021. Moreover, similar to 2019 (71.3%) and higher than 2017 (68.5%), 71.5 percent of households in 2021 possessed a Visa, MasterCard, American Express, or Discover credit card (i.e., a credit card). Hence, banks in this region are employing CDN to send private client data securely.
Growing Smartphones Adoption to Boost the Market Expansion in Asia Pacific Region
The Asia Pacific content delivery network market is anticipated to capture share of 28% over the forecast period. This is could be owing to rising adoption of smartphones in this region. The Asia-Pacific region's adoption of smartphones rate rose from about 63 percent in 2019 to approximately 75 percent in 2022. In APAC, over 90% smartphone penetration is anticipated by 2030.
Content Delivery Network, Segmentation by Content Type
- Static
- Dynamic
The dynamic segment is poised to generate share of 59% over the forecast period. The growth of the segment can be attributed to growing utilization of VoIP. About 2 million of people all around the globe utilize mobile VoIP services. Additionally, the segment is set to also expected to grow owing to surge in video streamers all across the globe.
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Content Delivery Network, Segmentation by End-Use
- Media & Entertainment
- E-Commerce
- IT & Telecom
- Healthcare
- Government
- Advertisement
The media & entertainment segment is expected to grow at a share of 46% over the coming years. This segment growth is set to grow as a result of growing Spotify or other music streaming application subscription. Nearly 615 million people use online streaming platforms to listen to their favorite musicians or find new ones. The number of music streaming customers has increased dramatically over the past several years.
Content Delivery Network, Segmentation by Component
- Solutions
- Services
Content Delivery Network, Segmentation by Solution
- Web Performance Optimization
- Media Delivery
- Cloud Security
Content Delivery Network, Segmentation by Provider
- Traditional CDN
- Telecom CDN
- Cloud CDN
- P2P CDN
- Others
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Content Delivery Network, Segmentation by Services
- Designing & Consulting
- Storage Services
- Analytics & Performance Monitoring
A few of the well-known market leaders in the global content delivery network market that are profiled by Research Nester are Edgio, Inc., Fastly, Inc., Microsoft Corporation, Akamai Technologies Inc., CloudFlare Inc., CenturyLink, Google LLC, Amazon Web Services Inc., Kingsoft Corporation, Ltd., Verizon, and others.
Recent Development in the Market
- The agreement for Edgio, Inc. to purchase Yahoo's Edgecast, Inc. was announced. Edgio, Inc. is a global provider of online applications and content delivery solutions.
- Fanout will soon be acquired by cloud network provider Fastly, Inc. With the help of this purchase, the business has been able to expand its approach for locating and utilizing people and technological advancements that improve customer performance, security, and innovation.
About Research Nester
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