Content Delivery Network Market Worth $22.1 Billion by 2024 - Exclusive Report by MarketsandMarkets™
Increasing video content is expected to be the main reason for the proliferation of the CDN market.
CHICAGO, May 17, 2019 /PRNewswire/ -- According to a new market research report "Content Delivery Network Market by Content Type (Static and Dynamic), Component, Application Area (Media and Entertainment, eCommerce, eLearning, Online Gaming, Healthcare Services and Enterprises) and Region - Global Forecast to 2024", published by MarketsandMarkets™, the global Content Delivery Network Market size is projected to grow from USD 12.4 billion in 2019 to USD 22.1 billion by 2024, at a CAGR of 12.3% from 2019 to 2024.
Major growth drivers for the market include an increasing demand for enhanced video content, latency-free online gaming experience, and enhanced QoE and QoS.
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Dynamic content segment to hold a larger market size during the forecast period
Dynamic content can also be termed as streaming media. The content changes on a real-time basis. It can be live, such as live sports, news broadcast, and concerts, as well as on-demand in which the encoded data is stored in streaming media server and is made available on request from the client. Increasing video content is expected to be the main reason for the proliferation of the CDN market. High-quality videos need to be delivered to the users, irrespective of their location and the distance between the content creators and users. Here, CDN plays a vital role by using the geographically distributed network of connected servers. These servers deliver on-demand live videos to users' devices. The videos are of high quality and are accessible on-demand on web-connected devices.
Traditional CDN vendors segment to lead the market in 2019
Traditional CDN vendors provide various CDN solutions, such as network optimization, content acceleration, and media delivery, for the delivery of static and dynamic content over the internet. The traditional CDN providers involve a large set of servers, which are strategically deployed across the globe and balance the load on the existing networks. The increased data consumption across the globe has been pushed by the technology innovation in the CDN domain and digitization among end users. It is supporting traditional CDN providers to broaden their global customer base.
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North America to hold the largest market size during the forecast period
North America has always been an innovative and competitive ground for every technology. The region still remains one of the fastest in the adoption of new technologies. Currently, the US holds the largest share in the CDN market, owing to the extensive efforts put in by companies in their R&D. Large presence of leading companies such as Akamai, AWS, Microsoft, Limelight Networks, and Cloudflare has fueled the innovation in the CDN market, whereas startup companies, including Fastly, CacheFly, StackPath, and Quantil, have contributed to the growth of the market to a large extent. North America in coming years is projected to sustain its lead in the CDN market.
Major vendors covered in the Content Delivery Network Market include Limelight Networks (US), AWS (US), Akamai Technologies (US), Google (US), Deutsche Telekom (Germany), AT&T (US), Microsoft (US), IBM (US), Quantil (US), StackPath (US), Fastly (US), Cloudflare (US), G-Core Labs (Luxembourg), and Verizon Digital Media Services (US).
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