Content Delivery Network Market is Growing Exponentially in Order to Gain More Demand by 2025
A content distribution network or content delivery network (CDN) is a system distributed network that delivers webpages or different web content data across various geographical locations. Content delivery network delivers a large portion of online content, including web objects (scripts, graphics and text), downloading objects (documents, software, and media files), applications (portals and e-commerce), social networking, on-demand streaming media, and live streaming media. The last few years have witnessed a meteoric rise in IP data traffic backed by internet proliferation worldwide. According to Coherent Market Insights, in 2016, 96,054 PB IP data traffic was generated per month and is projected to reach 278,108 PB IP data traffic by 2021, globally. Increasing adoption of video supporting devices, wearable devices, AR/VR technology, and digitization is increasing data traffic globally, which in turn is expected to boost demand for content delivery network.
Growing e-commerce industry provides high growth opportunity
Growing e-commerce industry provides immense opportunities for growth of the content delivery network market. For example, according to India Brand Equity Foundation Organization, in 2016, e-commerce industry in India, generated revenue of US$ 15 billion and is projected to reach US$ 188 billion by 2025. Moreover, increasing demand for decreased uploading time is also fueling adoption of content delivery network technology in e-commerce companies. According to a survey conducted by Coherent Market Insights, in 2016, 47% worldwide consumers expected a web page to load in 2 seconds or less. Increasing website loading time results in low consumer retention on the webpage. Results of the survey revealed that an increase in loading time by one second reduces 11% page views, adversely affecting revenue generated by the e-commerce company. To overcome this challenge, e-commerce companies are adopting the content delivery network technology to help reduce the loading time of the webpage.
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North America holds a dominant position in the market in 2016
North America held a dominant position in the market in 2016 and is projected to retain its dominance throughout the forecast period. Some of the major countries driving growth of the market in the region are the U.S. and Canada. Increasing usage of 4K content is one of the key factors driving growth of the market in the region. According to Coherent Market Insights, connected 4k televisions consumed around 3.9 GB per month in 2016, in the U.S. and is projected to reach 43.5 GB per month by 2021.
Additionally, Asia Pacific content delivery network market is projected to exhibit the highest CAGR over the forecast period. India, china, and Japan are some of the major countries driving the market in this region. Increasing adoption of content delivery network technology by various end-use industries such as advertising, e-commerce, education, gaming, and media & entertainment have accelerated growth of the market in this region. For example, Aditya Birla Online Fashion Private Limited (ABOF) is an India-based e-commerce company, which has adopted an Amazon CloudFront to help reduce the uploading and downloading time. Similarly, NDTV Ltd, India’s largest news and infotainment network company adopted Tata Communication CDN platform to reduce the video streaming downloading time
Key Companies- Global Content Delivery Network Market
Some of the major companies in the global content delivery network market are Akamai Technologies, AT&T, Inc., CDNetworks, Chinacache, CloudFlare Inc., Highwinds Network Group, Inc., Internap Corporation, Level 3 Communications, Inc., Limelight Networks, MaxCDN, Tata Communications, and Verizon Communications, Inc.
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