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According to Technavio's analyst, the web performance market share is expected to be valued at USD 3.03 billion by 2026 with a progressing CAGR of 8.69%.
This web performance market research report has covered details of key players and demographic segmentation that highlight potential growth areas and competition. Furthermore, the post COVID-19 impact analysis on the market captured in this report will help players evaluate their business approaches.
Web performance market segmentation - Deployment (on-premise and cloud) and geography (North America, Europe, APAC, Middle East and Africa, and South America)
Web performance market vendors - Akamai Technologies Inc., AT and T Inc., Broadcom Inc., Cavisson Systems Inc., CDNetworks Inc., Cisco Systems Inc., Cloudflare Inc., DigitalOcean Holdings Inc., DreamHost LLC, Dynatrace Inc., Equinix Inc., F5 Networks Inc., International Business Machines Corp., Micro Focus International Plc, New Relic Inc., Nippon Telegraph and Telephone Corp., Radware Ltd., SolarWinds Corp., TransUnion, WPEngine Inc., and ZenQ among others.
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The rising number of cyber attacks is notably driving the web performance market growth, although factors such as high deployment costs may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the web performance industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Web Performance Market Driver
One of the key factors driving the global web performance industry growth is the rising number of cyberattacks. For instance, in May 2021, there was a breach in Brenntag, a German chemical distribution company. The hackers demanded USD 7.5 million dollars in bitcoin to release 150 GB worth of stolen data. Such instances could result in the entire company shutting down until it pays up. For instance, in August 2018, the Taiwan Semiconductor Manufacturing Company was forced to shut down its fabs after its systems were infected with a variant of the WannaCry ransomware. As these cyber-attacks impact web performance and website speed, thus enterprises are adopting web performance solutions to prevent such attacks, which will drive the growth of the global web performance market during the forecast period.
Key Web Performance Market Trend
Demand for mobile web performance solutions is one of the key web performance market trends that is expected to impact the industry positively in the forecast period. The number of Internet users is continuously increasing; most of these users access the web through various networks that are available in the market, such as mobile 5G, LTE, 3G, and even 2G networks. The cost of prepaid data plans has been declining, making it more affordable in locations where it once was not available. With the launch of new affordable prepaid data plans, many companies in countries such as India, are also offering faster Internet speed. Therefore, these users are using web performance to detect the real web speed offered by companies, which will further support the market growth in the coming years.
Key Web Performance Market Challenge
One of the key challenges to the global web performance industry growth is the high deployment costs. Any organization must recruit dedicated IT staff for the proper implementation of the web performance solution along with training existing employees, which incurs additional costs. In addition, end-users that adopt enterprise web performance solutions have to pay for the applications that they use. However, the cost increases when vendors provide additional services such as security, backup, resilience, encryption, and hosting to their customers. This increases the overall cost that end-users incur for implementing these solutions, which may challenge the optimum market penetration and the market growth during the forecast period.
This web performance market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global web performance market as a part of the global application software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the web performance market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the web performance market encompasses successful business strategies deployed by the key vendors. The web performance market is fragmented and the vendors are deploying growth strategies such as technological innovations to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The web performance market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the web performance market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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39% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for web performance in North America. Market growth in this region will be faster than the growth of the market in South America and MEA.
The significant increase in the number of cyberattacks, the shift from conventional IT services to Internet-based IT systems, and the rise in the number of IT companies and start-ups in countries such as the US will facilitate the web performance market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the regional market for web performance was adversely affected by the COVID-19 pandemic due to the temporary closure of several commercial spaces, such as offices and retail outlets. However, due to the lockdowns and free time available and the closure of public places for entertainment, many mobile phone users were spending more time on the Internet, thereby enhancing the demand for web performance solutions. In addition, since the risk of cyberattacks and security breaches is increasing, especially in highly regulated sectors such as healthcare, defense and space, the demand for web performance solutions in the region is expected to increase during the forecast period.
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The web performance market share growth by the on-premises segment will be significant during the forecast period. The on-premises model is more secure than cloud-based solutions, which will boost its adoption among large enterprises that are concerned more about functionality and security than cost, in the coming years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the web performance market size and actionable market insights on post COVID-19 impact on each segment.
Web Performance Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.69% |
Market growth 2022-2026 |
$ 3.03 billion |
Market structure |
Fragmented |
YoY growth (%) |
7.89 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 39% |
Key consumer countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Akamai Technologies Inc., AT and T Inc., Broadcom Inc., Cavisson Systems Inc., CDNetworks Inc., Cisco Systems Inc., Cloudflare Inc., DigitalOcean Holdings Inc., DreamHost LLC, Dynatrace Inc., Equinix Inc., F5 Networks Inc., International Business Machines Corp., Micro Focus International Plc, New Relic Inc., Nippon Telegraph and Telephone Corp., Radware Ltd., SolarWinds Corp., TransUnion, WPEngine Inc., and ZenQ |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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