Booming Online Video Streaming Services Stimulating Demand for Content Delivery Network (CDN) Solutions: Fact.MR Report

ROCKVILLE, MD, UNITED STATES, May 10, 2024 /EINPresswire.com/ -- Fact.MR, a market research and competitive intelligence provider, in its recently updated market study, reveals that the global content delivery network (CDN) market is expected to reach US$ 23.5 billion in 2024 and increase to US$ 71.7 billion by the end of 2034.

In recent years, various online video streaming services, including YouTube, Amazon Prime Video, Netflix, etc., have surged in popularity, which is leading to the development of advanced content delivery network solutions for their effective operation. Expansion of cloud computing solutions is also estimated to contribute to higher demand for content delivery network services for transferring their data, archives, and applications to the cloud.

More consumers are giving preference to video and audio content on the internet, which is making content delivery network services ever so important. Rising application of content delivery network technologies in eCommerce and retail is estimated to assist in ensuring better user experience.

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Key Takeaway from Market Study

The global CDN market is forecasted to advance at a CAGR of 11.8% from 2024 to 2034. North America is projected to account for 24.3% share of global market revenue by 2034-end.

Worldwide demand for content delivery network solutions is forecasted to increase at 11.4% CAGR and reach a valuation of US$ 43 billion by the end of 2034. Demand for CDN services in South Korea is evaluated to accelerate at a CAGR of 12.6% from 2024 to 2034. The media & entertainment sector is forecasted to account for 36% share of the global market by 2034.

“Ever-expanding online retail and e-Commerce industry, particularly with the rising preference for electronic shopping, will generate high demand for content delivery network solutions for effective operation of platforms,” says a Fact.MR analyst.

Content Localization in Japan Driving Demand for CDN Solutions

Demand for content delivery network services in Japan is approximated to accelerate at a CAGR of 12.3% and reach a value of US$ 4.9 billion by 2034. Rising requirements for high-quality online content delivery and surging adoption of cloud services are anticipated to lead to content localization, which is set to widen opportunities for providers of content delivery network services in Japan. These solutions help in improving the overall performance of content delivery services.

Key Market Players

Some of the leading providers of content delivery network solutions are Akamai Technologies, Tata Communications, Microsoft Corporation, Alibaba Cloud, IBM Corporation, StackPath, Limelight Networks, QUANTIL, Amazon Web Services, Inc., Deutsche Telekom AG, CloudFare Inc., Lumen Technologies, AT&T, Limelight Networks Inc., Verizon Media, and Google LLC.

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Insights by country:

By the conclusion of 2034, North America is projected to command a 24.3% share of the global CDN market revenue. The surge in internet and smartphone users, coupled with the imperative for superior website performance and the burgeoning popularity of OTT media platforms, propels the demand for CDN solutions. The presence of key industry players such as Microsoft, AWS, Akamai, Cloudflare, and Limelight Networks is anticipated to further fuel market expansion.

In North America, the United States is anticipated to constitute 45.6% of the market share by 2034. This projection is underpinned by the increasing adoption of smart devices, widespread internet access, and a growing inclination towards cloud-based services among SMEs, all contributing to the rising demand for content delivery network services. Moreover, the widespread acceptance of cloud services, the proliferation of smartphones, and the rollout of high-speed data networks collectively augment the burgeoning content delivery network market. Increased expenditure on leisure services further drives the demand for content delivery network solutions within the United States.

Competitive Landscape

Major content delivery network (CDN) providers are prioritizing strategic partnerships to establish sustainable revenue models and expedite the development of innovative products. The surge in demand for video conferencing and video-on-demand applications is presenting significant growth opportunities for these service providers.

Limelight Networks, Inc. stands out as a leading CDN service provider. In December 2021, the company introduced GraphQL functionality for integration into its Layer0 web application, enhancing its suite of web application solutions and reinforcing its market position.

CloudFlare Inc. made headlines in September 2020 by forging a partnership with the Internet Archive aimed at enhancing website reliability for publishers. This collaboration is anticipated to bolster CloudFlare's services and contribute to the Internet Archive's data offerings.

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