The global Load Balancer Market size is expected to grow from USD 2.6 billion to USD 5.0 billion by 2023, at a CAGR of 13.7% during the forecast period. A load balancer is any software or hardware device that facilitates the distribution of network or application traffic across computing resources, including servers, network connections, and processors. It helps in the optimization of computing resources, reduces latency, and increases output and the overall performance of a computing and networking infrastructure. A load balancer improves the concurrent user capacity and the overall reliability of applications by distributing the workload across multiple servers and decreasing the overall burden placed on each server.
The large enterprises segment is expected to grow at a higher CAGR during the forecast period, owing to an increase in emerging load balancer vendors dedicated for large enterprise customers. Organizations with more than 1,000 employees are defined as large enterprises. The adoption of cloud-base load balancer is higher in the large enterprises segment, and the trend is expected to continue during the forecast period. A cloud-base load balancer offers scalability to large enterprises. Therefore, large enterprises are majorly investing in advanced technologies to increase their overall productivity and efficiency. The demand for flexible, scalable, and convenient services from large enterprises is expected to encourage market players to come up with innovative solutions and services.
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The load balancer type is expected to grow at the highest CAGR during the forecast period. The load balancers intelligently calculate the most appropriate site to direct client traffic, and the client traffic is directed or the load is balanced to sites, depending on the policies configured in the global load balancer system.
The cloud-based load balancer is expected to grow at a higher CAGR during the forecast period. Cloud-based load balancers have many advantages, such as offering consistent application experience both on-premises and on-cloud. They also have the ability to handle on-demand traffic by providing an additional server, if required. Cloud-based load balancers can use cloud scalability to keep costs low and maximize the organization’s revenue.
Asia Pacific (APAC) is expected to grow at the highest CAGR in the global load balancer market during the forecast period, owing to the large-scale adoption of load balancer solutions by SMEs in the region. Middle East and Africa (MEA) and Latin America have growth potential, as these regions are rapidly adopting load balancer solutions.
The global IP traffic is increasing at an unprecedented rate across the globe. A number of trends are gaining traction in the network IT infrastructure, such as the rise in the use of enterprise mobility, cloud services, and Voice over Internet Protococl (VoIP) that led to the generation of a huge amount of traffic in the network. The growing trend would present opportunities for emerging players in the global load balancer market.
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The load balancer market includes major vendors, such as 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). The players have implemented various growth strategies to expand their global presence and increase their market share. Key players, such as HPE, AWS, and Microsoft, have majorly deployed new product launches and partnerships/collaborations to expand their product portfolios and grow further in the load balancer market.
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