CHICAGO, November 8, 2018 /PRNewswire/ --
According to a new market research report " Load Balancer Market By Component (Hardware, Software, and Services), Load Balancer Type (Global Load Balancer and Local Load Balancer), Deployment Type, (On-Premises and Cloud), Organization Size, Vertical, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the global Load Balancer Market size is expected to grow from USD 2.6 billion in 2018 to USD 5.0 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 13.7% during the forecast period.
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Increased awareness among enterprises about the benefits of cloud and networking technologies coupled with increasing network complexity and varied traffic pattern are major growth factors for the global Load Balancer Market
Integration and deployment services segment to grow at the highest CAGR during the forecast period
Integration and deployment services help enterprises in the efficient deployment of load balancers to provide effective network traffic distribution. Integration services provide effective integration of vendors' load balancing offerings with clients' existing infrastructure and business functions.
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Global load balancer segment to grow at a higher rate during the forecast period
The global load balancer segment is expected to grow at a higher CAGR in the Load Balancer Market by load balancer type during the forecast period. Global load balancers facilitate network traffic distribution to a group of data centers in various geographic locations. These load balancers are located at a single site and provide load balancing to multiple sites or data centers. Companies are increasingly deploying server resources at multiple locations that require efficient traffic distribution resulting in an increased demand for load balancers.
Cloud-based deployment type segment to grow at a higher rate during the forecast period
The cloud-based load balancer segment is expected to grow at a higher CAGR in the Load Balancer Market by deployment type during the forecast period. Cloud-based load balancer deployments can be implemented with open source load balancers as well as fully support commercial implementations. Cloud-based load balancers are highly scalable and cost-effective. Hence, companies across verticals prefer cloud-based load balancers. Cloud-based load balancers use an advanced load balancing technology to meet application traffic demands of organizations that are implementing a private cloud infrastructure.
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APAC to dominate the global Load Balancer Market during the forecast period
The global Load Balancer Market by region covers North America, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America. APAC has a favorable market for load balancer solution and service vendors. The region has major developing economies and a broad customer base for many industries. Hence, it needs load balancer services to minimize the expenditure on IT infrastructure and distribute the network traffic equally.
The report also studies various growth strategies, such as mergers and acquisitions, partnerships and collaborations, and developments, adopted by major players to expand their presence in the global Load Balancer Market. Major vendors in the global Load Balancer Market include AWS (US), F5 Networks (US), Citrix Systems (US), Microsoft (US), HPE (US), IBM (US), Google (US), Imperva (US), NGINX (US), Radware (Israel), Fortinet (US), A10 Networks (US), Kemp Technologies (US), Riverbed Technologies (US), Fastly (US), Dialogic (US), Avi Networks (US), Joyent (US), Inlab Software (Germany), Cloudflare, Inc. (US), Zevenet (Spain), Array Networks (US), Avanu (US), Barracuda Networks (US), and loadbalancer.org (UK).
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