Load Balancer Market Insights, Dynamics and Innovations | $8.90 billion by 2027

According to a recent report published by Allied Market Research, titled, "Load Balancer Market by Component, Type, Deployment, and Enterprise Size: Opportunity Analysis and Industry Forecast, 2020-2027," the global market was valued at $3.39 billion in 2019, and is projected to reach $8.90 billion by 2027, growing at a CAGR of 12.9% from 2020 to 2027.

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Load balancing is a set of processes that handles multitude of server requests from modern multi-application and multi-device workflows. Its primary function is to balance the workloads and to distribute network traffic across multiple servers. In addition, load balancer ensures that no single server bears excessive requests or demands. In addition, it is incorporated in application delivery controllers (ADCs) or software-defined load balancing algorithms. Increase in need for business continuity and data load efficiently, especially in IT and telecom industry is significantly driving the growth of global load balancer market during the forecast period.

Factors such as rise in global IP traffic, rise in deployment of load balancer to deliver optimum performance with efficient load balancing for interconnected data center infrastructure, especially in developing regions, ongoing digital transformation initiatives by governments across the world are driving the demand of global load balancer market.

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The global load balancer segment is anticipated to hold the majority of the load balancer market share in 2027 due to rise in adoption of multi-cloud deployment and need for delivering mission-critical business continuity and global disaster recovery support in the event of site or regional-level outages.

The IT & telecom segment accounted for the major share among several industry verticals, owing to the fact that data center servers are primary end users of load balancers. Moreover, ongoing digital transformation across the globe and rise in cloud migration services among various industry verticals. Further, realization of CSPs to avoid service outages which hamper the brand image is also driving the demand for load balancer market in telecom industry.

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.

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As per region, the global load balancer market size was dominated by North America in 2019 and is expected to maintain this trend during the forecast period. Factors such as presence of leading companies developing load balancer in North America and majority of ICT spending in this region are the major drivers for the load balancer market growth in this region.

In addition, the large presence of load balancer industry players in the U.S. offers customized load balancer solutions. These players focus on consistent innovations in the field of load balancer to sustain competitiveness in the market. In order to avoid the possibility of products becoming obsolete or uneconomical within a short period of time, these players consistently focus on innovations in existing products or developing updated products.

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.

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.

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