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.
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.
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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.
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.
By region, the web performance monitoring market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC). North America is the largest market web performance market, while the APAC market is anticipated to be the fastest-growing market. Ṭhe growth of the market can be attributed to the technological advancements in the region.
ZenQ (U.S.), Micro Focus International plc. (U.K), Cavisson Systems Inc. (U.S.), Neustar, Inc. (U.S.), Akamai Technologies, Inc. (U.S.), IBM (U.S.), New Relic, Inc. (U.S.), CDNetworks (South Korea), F5 Networks, Inc. (U.S.), Dynatrace (U.S.), ThousandEyes, Inc. (U.S.), Cloudflare, Inc. (U.S.), Netmagic Solutions (India), and CA Technologies, Inc. (U.S.) are the notable players in the web performance market.
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.
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