Published Date: 24-Nov-2022
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According to a new report, published by KBV research, The Global Load Balancer Market size is expected to reach $11.8 billion by 2028, rising at a market growth of 14.4% CAGR during the forecast period.
The Local Type market is showcasing a CAGR of 16.7% during (2022 - 2028). No matter where or when users use the network, load balancing prevents server overload and keeps it responsive. Without causing downtime or altering the current systems, it offers the dynamic installation or elimination of the servers in reaction to traffic peaks.
The Hardware market is leading the segment in the Global Load Balancer Market by Component 2021; thereby, achieving a market value of $6.4 billion by 2028. The segment's expansion can be linked to its capacity for performing the most resource-intensive tasks, including distributed denial of service protection, User Datagram Protocol (UDP) traffic processing, and SSL offloading. Since large enterprises desire to distribute a multitenant device between business units, hardware load balancers offer important benefits.
The Manufacturing market is exhibiting a CAGR of 15.2% during (2022 - 2028). The necessary maximum load capacity and the cable length are significant elements that must be taken into consideration beforehand. Industrial engineers frequently employ spring balancers (load balancers and load retractors) in the manufacturing sector, such as the automotive sector.
The Large Enterprises market is generating high revenue in the Global Load Balancer Market by Enterprise Size 2021; thereby, achieving a market value of $7.5 billion by 2028. Numerous significant firms have been impacted by hackers. Additionally, since COVID-19, remote work has become more and more widespread, raising the risk of cyberattacks as well as data breaches. As a result, numerous market leaders in numerous sectors and industrial verticals are quickly using load balancing techniques.
The Cloud market is registering a CAGR of 15.6% during (2022 - 2028). The rising benefits, such as lower costs as well as flexibility in ramping up to meet demand, can be contributed to the category growth. Industries have recently shifted toward multi-cloud computing as a result of an increase in worldwide interconnections through digital platforms and cloud computing.
The North America market dominated the Global Load Balancer Market by Region 2021; thereby, achieving a market value of $4.1 billion by 2028. The Europe market is anticipated to grow at a CAGR of 13.9% during (2022 - 2028). Additionally, The Asia Pacific market would witness a CAGR of 14.9% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/load-balancer-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of A10 Networks, Inc., Amazon Web Services, Inc. (Amazon.com, Inc.), Citrix Systems, Inc, F5, Inc., Google LLC, Imperva, Inc., IBM Corporation, Progress Software Corporation (Kemp Technologies), Microsoft Corporation and Radware Ltd.
By Enterprise Size
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