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Cloud Load Balancers Market Competitive Landscape, Key Drivers, Major Players, Outlook And Forecast To 2033
Cloud Load Balancers Market Competitive Landscape
According to The Business Research Company's, The cloud load balancers market size has grown rapidly in recent years. It will grow from $8.96 billion in 2023 to $10.40 billion in 2024 at a compound annual growth rate (CAGR) of 16.1%. The growth in the historic period can be attributed to the rise of cloud computing, an increase in internet traffic, e-commerce growth, business expansion, and cybersecurity concerns.
The cloud load balancers market size is expected to see rapid growth in the next few years. It will grow to $19.14 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The growth in the forecast period can be attributed to edge computing expansion, hybrid cloud adoption, 5g rollout, zero trust security, and IoT growth. Major trends in the forecast period include a shift towards software-defined load balancing, AI-driven traffic optimization, API-driven load balancing, integration with service mesh technologies, rise of edge load balancers.
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Market Drivers and Trends:
The increasing number of online gamers is expected to propel the growth of the cloud load balancers market going forward. Online gamers are individuals who participate in multiplayer video games over the internet, interacting with other players in virtual environments. The number of online gamers is growing due to the increasing popularity of online multiplayer games, advancements in blockchain-based technologies, and the rise of competitive gaming tournaments and esports. Cloud load balancers distribute traffic across online gaming platforms, guaranteeing low-latency connections, enhancing game performance, and evenly distributing the load during periods of high gaming activity. For instance, in May 2023, according to Uswitch Limited., a UK-based online comparison and switching service, the number of online gamers globally in 2022 reached 3.2 billion and is forecast to reach 5.7 billion by 2032, an increase of 44% from 2022. Therefore, the increasing number of online gamers is driving the growth of the cloud load balancers market.
Major companies operating in the cloud load balancers market are focusing on developing security-driven load balancing solutions, such as managed load balancers, to gain a competitive edge in the market. Managed Load Balancer is a load balancer with an SSL certificate that includes SSL/TLS encryption capabilities for securing data transmission between clients and servers. For instance, in March 2022, UpCloud, a Finland-based cloud service provider, launched Managed Load Balancer to simplify load balancing for cloud services. It offers easy setup via an intuitive control panel or API, with plans for development and production. The production plan ensures high availability with a dual-node setup, supporting up to 50,000 concurrent connections per node. Managed load balancer and SSL certificate manager, aiming to streamline operations and enhance resilience in cloud infrastructure. Available in open beta, it has stress-free load distribution.
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Major Key Players of the Market:
Google LLC, Microsoft Corporation, Amazon Web Services Inc, Cisco Systems Inc, Broadcom Inc, VMware Inc, Snapt Inc, Fortinet Inc, Citrix Systems Inc, F5 Networks Inc, Array Networks Inc, Sangfor Technologies Inc, Cloudflare Inc, DigitalOcean Inc , Riverbed Technology Inc, Imperva Inc, Barracuda Networks Inc, Radware Ltd, A10 Networks Inc, Scaleway Inc, Kemp Technologies Inc, Aviatrix Systems, Linode LLC, HAProxy Technologies LLC, NGINX Inc, Edgenexus Ltd, Loadbalancerorg Ltd, Total Uptime Technologies LLC, Zevenet SL, Inlab Networks Pty Ltd.
Cloud Load Balancers Market 2024 Key Insights:
• The cloud load balancers market size is expected to see rapid growth in the next few years. It will grow to $19.14 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%.
• Rising Online Gaming Population Fueling The Demand For Cloud Load Balancers
• Development Of Security-Driven Load Balancing Solutions For Secure Connectivity
• North America was the largest region in the cloud load balancers market in 2023
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