Overview:
The richer level of functionality demanded from websites and apps is one of the primary factors fuelling the growth of the market over the forecast period. Increasing level of performance issues in websites that are online currently need to utilize various web performance tools to achieve maximum traffic and thus achieve the objective of the website. The rising adoption of web performance solutions in IT and telecommunication industry verticals is anticipated to motivate the progress of the market optimistically in the upcoming years.
Most businesses are moving online to expand their profit margins, and web performance or site performance is an essential tool for online success. Web performance is basically the time that a website takes to load and measuring web performance involves measuring the perceived and actual speeds of an application. Market Research Future (MRFR’s) has launched a comprehensive report on the global web performance market, which provides valuable insights on the market backed by historic data and forecast for the period of 2017-2023. MRFR’s analysis has projected the web performance market to reach USD 6 Bn at a CAGR of 9% over the forecast period.
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Key Players:
Some of the prominent players in the global web performance market are Akamai Technologies, Inc. (U.S.), CA Technologies, Inc. (U.S.), Cavisson Systems Inc. (U.S.), CDNetworks (South Korea), Cloudflare, Inc. (U.S.), Dynatrace (U.S.), F5 Networks, Inc. (U.S.), IBM (U.S.), Micro Focus International plc. (U.K), Netmagic Solutions (India), Neustar, Inc. (U.S.), New Relic, Inc. (U.S.), ThousandEyes, Inc. (U.S.), and ZenQ (U.S.) among others.
Websites these days have so many features that they struggle to maintain a high level of performance across a variety of devices and network conditions. The website content must be quick to load to ensure seamless user experience. In addition, search engine ranking also improves with web performance. Thus, various businesses operating online are investing in heavily in web performance to achieve online success.
The booming e-commerce industry has paved the way for heightened usage of web performance tools which has driven the global web performance market. Moreover, as a greater number of enterprises are relying upon web-based solutions and services, the web performance market is poised for further expansion. Other factors boosting the growth of the market include rising performance issues.
Segmentation:
The global web performance market has been segmented based on component, organization size, deployment, and vertical.
By component, the web performance market has been segmented into solution and service.
By organization size, the web performance market has been segmented into large enterprises and small and medium enterprises (SMEs).
By deployment, the web performance market has been segmented into cloud and on-premise deployment models. The cloud segment is anticipated to capture the larger share of the market over the forecast period. Enterprises are increasingly adoption cloud technology to avoid investment in IT infrastructure. Moreover, cloud deployment provides improved agility, scalability, which can be credited for the growth of the segment.
By vertical, the web performance market has been segmented into BFSI, healthcare, manufacturing, IT & telecommunication, transportation, automotive, and others. The IT & telecommunication segment is holding the foremost share of the global market. IT operations are highly dependent on the web, which boosts the growth of the segment. On the other hand, lack of awareness regarding web performance solutions and high costs associated with deployment are likely to hinder the growth of the market.
Detailed Regional Analysis:
The regional analysis of the market for web performance comprises of Asia Pacific, Europe, North America, and Rest of the World. The North American region is projected to be responsible for the major share of the market, while the Asia Pacific region is likely to develop at a rapid rate during the forecast period. The expansion of the market in the North American region is accredited to technological advancements and amplified adoption of web performance applications through various industry verticals such as healthcare, BFSI, manufacturing and IT and telecommunication among others.
Competitive Analysis:
The essential success factors and players’ predilections are consistently growing by the strategies being used by market contenders. Besides, the introduction of new products and services will add additional impetus to the market progress. The development of the market is based on the drivers that are radically altering the market backdrop. The enhancement in the products and services is the chief factor escalating the market’s productivity and controlling the trends that are acquiring distinction in the market. The situation for growth plans has stimulated the market for potential new entrants. The growth patterns are modified in tandem to the customer preferences to achieve maximum growth, and in the long run, profitability. The gaps in the market are filled due to the execution of proper supply chain strategies.
Industry Updates:
July 2019 —Yottaa, Inc., a Cloud platform for accelerating e-commerce, announced that Carter’s, Inc., has chosen the company to improve its website performance for its eCommerce sites. Carter is a leading apparel maker for babies and young children in North America. Carter is focused on improving its eCommerce business and aims to eradicate slow web performance, which stands as an impediment to the market growth.
Aug 2018 — As part of the collaboration between Akamai and Rigor will allow Akamai’s customers to easily gain access to Rigor’s synthetic user experience monitoring and website performance optimization solutions that will enable them to assess the performance and accessibility of their applications carefully.
Table of Content:
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
Continued. . .
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