At a CAGR of 9.2% | Web Performance Market worth 5.45 Billion USD by 2022

(IT-NEWSWIRE.COM, August 07, 2020 ) According to report "Web Performance Market by Solution (Web Performance Monitoring, Web Performance Optimization, and Web Performance Testing), Service, Organization Size (SMEs and Large Enterprises), Deployment Type, Vertical, and Region - Global Forecast to 2022", the web performance market size is expected to grow from USD 3.50 Billion in 2017 to USD 5.45 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 9.2% during the forecast period. The growth of the eCommerce industry, and proliferation of images, videos, and rich media on the web are the major factors that are expected to support the growth of the web performance market.

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Web performance testing segment is expected to have the largest market size during the forecast period.

In the solutions segment, the web performance testing segment is expected to have the largest market size during the forecast period. Web performance testing solutions test the websites and web applications during the development phase. Web performance testing includes load testing and speed testing of the websites and web applications. Load testing involves testing the websites under high web traffic.

Managed services segment is expected to be the fastest growing service segment during the forecast period.

In the services segment, the managed services segment is expected to have the highest CAGR during the forecast period. Web performance vendors provide managed services to their clients to cater to their different business needs. End-users have different business requirements that are handled by the managed service providers to help enterprises focus more on their core business. Furthermore, managed services help organizations enhance the customer relationship.

North America is expected to have the largest market size in the web performance market during the forecast period.

North America is expected to have the largest market size in the web performance market during the forecast period. Enterprises in North America have transformed their mode of business, shifting from the traditional approach to online platforms, which has helped boost the eCommerce industry in the region. This has accelerated the demand for new websites and web applications, and increased the need for web performance -related solutions.

Asia Pacific (APAC) is expected to witness the highest CAGR in the global web performance market during the forecast period. With diversified geographic areas and a high customer base, the APAC region is expected to exhibit strong growth in the web performance market. The growth in this region is primarily driven by the growing awareness among enterprises about the web customer experience, especially among organizations from the Banking, Financial Services, and Insurance (BFSI); Information Technology (IT) and telecom; retail; and healthcare sectors. The market in the developing regions, such as the Middle East and Africa (MEA) and Latin America, is expected to grow, owing to the growth in demography and data connectivity, increase in mobile penetration, and development in infrastructure.

The key players in the web performance market include Akamai (US), CA Technologies (US), Cavisson (US), CDNetworks (Korea), Cloudflare (US), Dynatrace (US), F5 Networks (US), IBM (US), Micro Focus (UK), Netmagic (India), Neustar (US), New Relic (US), ThousandEyes (US), and ZenQ (US).

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At a CAGR of 9.2% | Web Performance Market worth 5.45 Billion USD by 2022