High adoption of cloud-based load balancing services in data centers to manage data traffic and server virtualization and ongoing digital transformation initiatives by governments across the globe augment the growth of the global load balancer market.
In addition, the increased network complexity and varied terrific pattern due to transformations in telecommunication infrastructure fuels the market growth. Conversely, limited bandwidth providers due to legacy infrastructure impedes the market growth. Nevertheless, emergence of IoT, AI, and software-defined networking technologies usher a number of opportunities in the near future.
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The global load balancer market is analyzed across component, type, deployment, enterprise size, industry vertical, and region. Based on component, the hardware segment contributed to nearly two-fifths of the total market share in 2019, and is projected to rule the roost by 2027. The software segment, on the other hand, would grow at the fastest CAGR of 14.6% from 2020 to 2027.
Based on type, the local load balancer segment accounted for nearly three fifths of the total market revenue in 2019, and is anticipated to lead the trail by the end of 2027. At the same time, the global load balancer segment would manifest the fastest CAGR of 17.0% throughout the forecast period.
Based on region, North America held the major share in 2019, generating nearly two-fifths of the global load balancer market. Simultaneously, the market across Asia-Pacific region would garner the fastest CAGR of 15.7% from 2020 to 2027. The other two provinces studied in the report include Europe and LAMEA.
The key market players analyzed in the global load balancer market report include Google LLC, Imperva, Inc., Radware Ltd., F5 Networks, Inc., Citrix Systems, Inc., IBM Corporation, A10 Networks, Inc., Microsoft Corporation, Kemp Technologies, Inc., and Amazon Web Services, Inc. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
Impact of COVID-19 scenario on Load Balancer Market
- The outbreak of covid-19 made most of the industries incorporate digital infrastructure. This, in turn, has fast-tracked the process of digital transformation, thereby boosting the global load balancer market to a significant extent.
- The service providers have also embraced remote working system to carry on with their services. This has also helped the load balancer providers to remain constant in terms of revenue.
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