Market Research Future published a research report on “Web Hosting Services Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
The internet has become ubiquitous and has a vast number of uses in an increasingly digitized world. Expansion of the World Wide Web is occurring at a rapid rate, making web hosting services highly sought after. The global web hosting services market is projected to develop at a highly optimistic CAGR of 15.9% over the forecast period from 2018 to 2023. Market Research Future has published its report on the global web hosting services market which presents several findings on the growth of the market over the forecast period. Appreciation of the global web hosting services market is expected to result in a market value of USD 76.2 Bn by the end of the assessment period in 2023.
Web presence has become vital for companies and organizations at every size. The World Wide Web has become one of the world’s largest marketplaces and establishing a strong presence is vital. The increased demand and need to boost website performance has impacted the web hosting services market positively. Increasing penetration of internet services in developing countries due to the widespread adoption of smartphones has resulted in the massive potential for growth in emerging markets. Moreover, with more and more consumers using a variety of personal devices, web hosting services for different platforms and screen resolutions are being adopted, thus encouraging growth. Moreover, increasing threats of cyber-attacks and breach of data have encouraged the growth of web hosting services in terms of security of websites. High investments in ensuring data protection are being made, thus driving growth. Future growth is inevitable due to the opportunities and potential for growth in the future.
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Although the market is held back by challenges related to back up and restoration of data, the market is expected to move forward due to new trends and opportunities. Green web hosting technology is an emerging trend which is likely to produce a number of opportunities over the review period as the adopting such technology will reduce carbon emissions and provide cost-effectiveness.
The prominent players in the Web Hosting Services Market are – Amazon Web Services (U.S.), AT&T Inc. (U.S.), Dreamhost Inc. (U.S.), Earthlink Inc. (U.S.), Equinix Inc. (U.S.), Google Inc. (U.S.), Endurance Technologies Ltd. (U.S.), GoDaddy Inc. (U.S.), Justhost (U.S.), Web.Com Group, Inc. (U.S.), among others.
MRFR’s segmental analysis of the global web hosting services market has been performed on the basis of type, application, connectivity, deployment, and region. Types of web hosting services include shared hosting, website builder, dedicated hosting, and collocated hosting. The website builder segment has been established as the market leading segment which is growing at a CAGR of 18.5%.
Applications of web hosting services are found on public websites, intranet site, mobile applications, and online applications. Due to a rapid rise in the adoption of smartphones, the mobile application app is expected to thrive. Low maintenance, easy accessibility & integration and better customer service support capabilities, drive the segment.
By connectivity, the market is segmented into IP-VPN, MPLS, fiber, xDSL, and Ethernet. The fiber segment secured a dominant share of the market while the MPLS segment is on its way to achieving a significant market value due to increasing opportunities.
Deployment of web hosting services is done over the public cloud, private cloud, and hybrid cloud. The private cloud segment is growing at the most rapid pace and will grow at the highest CAGR due to the higher level of security available in this deployment method.
North America has surpassed other regions in terms of market size and is projected to retain its leadership position through the review period. The region includes market-leading country-level markets such as the U.S which is expected to achieve a market value of USD 21,862.6 Mn by the end of 2023. Canada and Mexico are expected to witness significant growth due to economic acceleration. Europe is another well-developed market which is likely to remain at a top position over the upcoming forecast period. Meanwhile, the Asia Pacific is an emerging market due to the presence of several rapidly developing economies that have organizations increasing their web presence to access more consumers. The surge in demand for web hosting services will help the APAC market thrive over the review period.
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- IT Solution Providers
- Government Organizations
- Research/Consultancy firms
- Business Organizations
- Web Hosting Service Providers.
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