Various enterprises small as well as big have adopted cloud Content Delivery Network (CDN) services in order to deliver applications, media files, web-contents, live RSS feeds, podcasts, and others to the end users. The major factors driving the adoption of cloud CDN are the proliferation of rich media files across social media, live online video streaming, and growing significance of cloud to store the data. The cloud CDN market is driven by various factors such as growing internet penetration across several emerging economies and growing trends in video on demand and online gaming portals. MarketsandMarkets forecasts the global cloud CDN market to grow from USD 1.81 Billion in 2016 to USD 6.23 Billion by 2021, at an estimated Compound Annual Growth Rate (CAGR) of 28.0% during the forecast period.
Introduction of elastic CDN by companies such as Alcatel – Lucent Juniper Networks and Akamai Technologies Inc., is enabling operators to stretch their video contents over the remotely located areas smoothly and efficiently. This is expected to be an opportunistic prospect for cloud CDN market to grow in the coming years.
The cloud CDN market has been segmented into type, component, organization size, vertical, and region. Cloud CDN types primarily comprises standard/non-video CDN and video CDN. The components of cloud CDN market is categorized into core solution and adjacent service. The core solution segment comprises web performance optimization, media delivery, and cloud security. Whereas, the adjacent services include cloud storage, analytics & monitoring, Application Program Interface (APIs), CDN network design, support & maintenance, and other services. The other services consist of load balancing, access control & authentication, managed Domain Name Server (DNS), Digital Rights Management (DRM), asset monetization, and cache management solutions. The organizations deploying cloud CDN is classified into size covering Small and Medium Business (SMBs) and large enterprises. End-use verticals catered by cloud CDN comprise advertising, media & entertainment, online gaming, e-commerce, education, government, healthcare, and other verticals (BFSI, IT, and travel & hospitality).
The cloud CDN market is expected to witness the highest growth in the online gaming industry as compared to other industry verticals. This growth is attributed to the growing trends with regards to eSports and gaming technologies engaging large number of gamers. CDN networking designing is expected to witness fastest growth trend in the coming years in terms of cloud CDN adjacent services, owing to growing internet penetration, and the rising number of internet users in the emerging economies. Cloud security core solution recorded fastest growing trend in the coming years, owing to rising security threats and cybercrimes over the cloud.
The APAC region offers a potential growth prospects for the cloud CDN market. Factors such as growing deployment of cloud-based services, increasing adoption of smart mobile devices, and increasing consumption of video and rich media files over portable devices are increasing the application of cloud CDN solutions across large number of business organizations in the region. The continuous growth in the integration of various cloud services is further encouraging the market to grow.
Cloud Content Delivery Network (CDN) Market by Type (Standard/Non-video and Video), Core Solution (Web Performance Optimization, Media Delivery, and Cloud Security), Adjacent Services, Organization Size, Vertical, and Region - Global Forecast to 2021
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