Content Delivery Networks Market to See 24.5% Annual Growth Through 2024

Industry Boosted by Growth of Online Gaming

October 29, 2019

WELLESLEY, Mass., October 29, 2019–The growth of online gaming and the rising demand for video content among online users are two factors which drive growth of the global content delivery networks market, according to a report by BCC Research, “Content Delivery Networks: Global Markets.”

The market expects to see a compound annual growth rate (CAGR) of 24.5% through 2024, when it could be worth $34.3 billion.

Major players in the market include : Akamai Technologies (AKAM), Comcast Technology Solutions , Cloudflare, Inc. (NET) and Microsoft (MSFT).

Research Highlights

  • Media delivery in content delivery network market reached $4.5 billion in 2019 and should reach $12.8 billion by 2024 at a CAGR of 23.2% through 2024.
  • Web performance optimization in content delivery network market reached $3.5 billion in 2019 and should reach $10.3 billion by 2024 at a CAGR of 24.0% through 2024.
  • The fastest growing category by service provider type is the cloud CDN segment, which is expected to grow at a CAGR of 27.8% and is forecast to reach $10.2 billion by 2024

Read the full report here:

“The gaming sector is one of the fastest growing application segments in the CDN market,” write the BCC analysts. “Over the last few years, there has been significant growth in gaming due to the large penetration of smartphones. This has not only increased revenue, it has increased customer engagement. Globally, the number of gamers is around 2.3 billion. About 95% of gamers play mobile games. Emerging markets like Asia Pacific have grown significantly over the last few years due to the expansion of Chinese smartphone manufacturers offering affordable smartphones. Among the different platforms available for gamers, mobile gaming is the largest segment, accounting for more than half of global game revenues. Consoles and PC game segments are also growing at a considerable rate, consoles being the second most dominant segment for gaming.”

CDNs for Managing Media

The report adds that over the last few years, there has been a significant shift from traditional media to new digital media. The emergence of digital media companies such as Netflix, Hulu, Amazon, Apple TV and others challenge traditional television as a main entertainment hub. Also, other over the top (OTT) service providers like YouTube and Spotify act as catalysts in audio/video data streaming. It is estimated that total global audio and video traffic combined accounted for 82% of total internet traffic in 2018. CDNs play a key role in managing demand for online media. CDNs help content publishers deliver content faster and more efficiently. CDNs support media companies with end-to-end preparation, storage and delivery of digital content.

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Content Delivery Networks: Global Markets( IFT095B )
Publish Date: Sep 2019    

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