The global cloud content delivery network market is yet to graduate from its transformational phase. Nevertheless, the market is speeding its way through on the back technological breakthroughs and generous spending by the leading companies. The investment spike will give thrust to the market’s transformation, enabling traditional providers counter challenges posed by novel services. Existing companies in the global cloud content delivery network market are thus paying more attention on newer concepts to bust possibilities of security breaches and compete effectively in the overall market.
As the players set sail to expand their regional footprint, the market will witness a rise in strategic collaborations, finds Transparency Market Research (TMR) in a recent study. “Strategies such as partnerships, mergers and acquisitions, and joint ventures have kept prospects bright for the players in the global cloud content delivery network market,” said a lead TMR analyst. TMR identifies Akamai Technologies, Inc., Limelight Networks, Inc., CenturyLink, Inc., CDNetworks Co., Ltd., Google LLC, Amazon Web Services, Inc., NTT Communications Corporation, Alibaba Cloud, Oracle Corporation, and Cloudflare, Inc. as some of the leading players in business.
The global cloud content delivery network market was pegged at US$3,019.6 mn by TMR in 2016. Showing a remarkable 25.5% CAGR, the market is poised to value US$18,564.5 mn by the end of 2025. On the basis of core solution, the media delivery segment emerged dominant in the global cloud content delivery network market in 2016. In terms of vertical, the market is likely to witness soaring demand from the media and entertainment segment. Regionally, the presence of key market players will catapult North America to the global market’s fore. Besides this, Asia Pacific is likely to show tremendous growth during the course of the forecast period.
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In the age of digital business, the demand for low-latency and high quality digital data has exponentially increased among end consumers. With the global society increasingly communicating, buying, relaxing, transacting, and learning via the internet, the demand for building efficient cloud content delivery network will rise. As traffic in video streaming grows, quality of services provided will emerge as a key differentiator.
As cloud content delivery networks offer improved quality control, the world will witness a spike in their deployment in the forthcoming years. Other than this, recent advances in the internet network, which have made it more agile will bode well for the market’s future prospects. In addition, basking on increased broadband speed and exponentially rising downloadable content, the cloud content delivery network market is likely to gain major impetus in the coming years. With organizations migrating their IT services on cloud, TMR expects the market to gain considerable momentum in the near future.