Press release
Load Balancer Market to Touch US$ 8.9 Billion by 2027, at a CAGR of 13.1%
Load Balancer Market Report
What are the growth prospects of the load balancer industry?
The global load balancer market reached a value of US$ 4.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 8.9 Billion by 2027, exhibiting at a CAGR of 13.1% during 2022-2027.
What is a load balancer?
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.
Impact of COVID-19:
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.
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What are the major market drivers in the load balancer market?
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.
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Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
Local Load Balancers
Global Load Balancers
Breakup by Component:
Hardware
Software
Services
Breakup by Deployment Mode:
On-premises
Cloud-based
Breakup by Enterprise Size:
Small and Medium-sized Enterprises
Large Enterprises
Breakup by End User Industry:
BFSI
IT and Telecom
Retail
Government
Manufacturing
Media and Entertainment
Healthcare
Others
By Geography:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
List of Major Key Players:
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
Radware Ltd
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IMARC Group
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company's expertise.
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