Cloud Load Balancers Market Present Scenario and Growth Prospects, 2022-2030

 

Global Cloud Load Balancers Market: Introduction

Cloud load balancers help to split workloads and compute properties in a cloud computing environment. Within an enterprise, cloud load balancers manage workload demands or application demands by distributing resources among numerous computers, networks, or servers. Cloud load balancing is a fully distributed, software-defined managed service. Some of the major features of cloud load balancers include automatic intelligent auto scaling of backend, single IP address frontend.

cloud load balancers market size and forecast

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Global Cloud Load Balancers Market – Dynamics

Rising Growth of Internet Traffic Driving Growth of the Cloud Load Balancers Market

The volume of data and traffic on the internet has increased exponentially over the last five years with the rising adoption of internet and internet connected devices such as smartphones, tablets, smartwatches, and personal computers. Internet traffic is estimated to grow 100% annually of the present traffic. With the rising internet traffic, the workload on servers is growing rapidly specifically on cloud as cloud-based adoption is growing rapidly. Demand for cloud load balancers is growing rapidly across the globe to manage and distribute the process.

Lack of Compatible Network Infrastructure Hampering Cloud-enabled Technologies

Cloud-enabling technologies depend considerably on the internet and communication services for their functionality. Consequently, they require a high speed internet connection such as LAN and WAN to manage the services. Several countries across the globe face network as well as internet connection issues due to improper communication infrastructure within their respective countries. Weak network & communication infrastructure, especially in developing regions such as Asia Pacific, is likely to hamper the market.

North America to Dominate the Global Cloud Load Balancers Market

In terms of region, the global cloud load balancers market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the cloud load balancer market during the forecast period due to strong adoption of advance technologies by small & medium enterprises in the region.

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COVID-19 Impact on the Global Cloud Load Balancers Market

The COVID-19 pandemic is expected to moderately impact the global cloud load balancers market. Adoption of cloud enabled technology due to remote working, has helped the cloud load balancer market to sustain the economic crash during COVID-19. Although investment with regards to R&D and innovation has been impacted, it is estimated that by the second half of 2021 the cloud load balancer will show healthy growth.

Global Cloud Load Balancers Market – Competition Landscape

  • In November 2020, Amazon Web Services announced the Gateway Load Balancer which will scale and manage third-party virtual appliances such as firewalls, intrusion detection, prevention systems, and deep packet inspection systems in the cloud. It works with the VPC Ingress Routing to the Elastic Network Interface of an EC2 instance.

Global Cloud Load Balancers Market: Segmentation

The global cloud load balancers market can be segmented based on:

  • Component
  • Enterprise Size
  • Industry
  • Region

Global Cloud Load Balancers Market, by Component

Based on component, the global cloud load balancers market can be divided into:

  • Software
  • Services
    • Professional
    • Managed

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This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.

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