PUBLISHER: The Business Research Company | PRODUCT CODE: 1392977
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392977
“Web Performance Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on web performance market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for web performance? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The web performance market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Web performance refers to the process of using tools and software to monitor how efficiently content loads and renders in a web browser, as well as how well it responds to user interaction. Good or bad website performance has a significant impact on user experience and the overall effectiveness of most websites.
The main components of web performance include solutions and services. Web performance solutions are designed for website management to detect and resolve issues that may impact the customer journey. These solutions are utilized in web applications to help businesses operate more efficiently, supporting the development of advanced enterprise web applications and the management of ERP solutions to ensure optimal results. Deployment options for these solutions include on-premise or cloud. End-users of web performance tools span various industries, including IT and telecom, logistics and transportation, government, healthcare, manufacturing, media and entertainment, among others.
The web performance market research report is one of a series of new reports from The Business Research Company that provides web performance market statistics, including web performance industry global market size, regional shares, competitors with a web performance market share, detailed web performance market segments, market trends and opportunities, and any further data you may need to thrive in the web performance industry. This web performance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The web performance market size has grown strongly in recent years. It will grow from $5. 76 billion in 2023 to $6. 3 billion in 2024 at a compound annual growth rate (CAGR) of 9. 5%. The growth observed in the historic period can be attributed to several factors, including an emphasis on user experience, mobile optimization, search engine optimization (SEO) practices, the impact of latency on user engagement, and a focus on user retention and loyalty. These factors collectively contributed to the development and adoption of web performance solutions during that period. Improvements in these areas are crucial for ensuring a positive online experience for users.
The web performance market size is expected to see rapid growth in the next few years. It will grow to $9. 57 billion in 2028 at a compound annual growth rate (CAGR) of 11. 0%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing emphasis on Core Web Vitals, the rise of Progressive Web Apps (PWAs), the continued growth of mobile internet usage, heightened competitiveness in e-commerce, and the impact of web performance on SEO. Major trends expected in the forecast period include a focus on sustainability and green web practices, an emphasis on user experience design and performance, the widespread adoption of Content Delivery Networks (CDNs), the implementation of serverless architecture, effective management of third-party scripts, and the utilization of WebAssembly (Wasm) technology.
The expansion of the E-commerce industry is anticipated to be a driving force behind the growth of the web performance market. E-commerce, involving the online buying and selling of goods and services, has been facilitated by the global reach and advancements in web technologies. The efficiency and cost-effectiveness introduced by E-commerce have transformed business operations. As an example, the Indian E-commerce market is projected to witness a 21. 5% growth in 2022, reaching USD 74. 8 billion, with expectations to reach USD 350 billion by 2030, as reported by the Indian Brand Equity Foundation (IBEF). The industry is forecasted to hit USD 111 billion by 2024 and USD 200 billion by 2026. The surge in E-commerce is propelled by increased internet and smartphone penetration, substantiating its role in driving the growth of the web performance market.
The increasing adoption of cloud-based solutions is poised to propel the web performance market forward. Cloud computing offers modern enterprises enhanced flexibility, efficiency, scalability, security, collaboration, and cost savings. The popularity of cloud-based solutions is driven by their scalability, adaptability, and cost-effectiveness, influencing the demand for web performance optimization services and tools. According to the Flexera 2022 State of the Cloud survey, 59% of businesses are maximizing current cloud usage for cost savings, while 57% are shifting additional tasks to the cloud. Additionally, 42% of firms are transitioning from on-premises software to Software as a Service (SaaS). Consequently, the increasing adoption of cloud-based solutions is a significant factor fueling the growth of the web performance market.
Technological advancement emerges as a prominent trend in the web performance market, with major players focusing on the launch and implementation of advanced web application technologies. For instance, Micro Focus, a UK-based enterprise software provider, released Visual COBOL 7. 0 and Enterprise Suite 7. 0 in September 2021. These solutions offer modernization options for COBOL and mainframe applications, aligning with organizational strategies for modernization and digital transformation. The release reflects Micro Focus' commitment to delivering robust solutions that accommodate changing business expectations while leveraging new environments and infrastructures.
Strategic partnerships have become a key focus for major companies operating in the web performance market. These collaborations involve commercial partnerships where resources are shared to enhance the success of all parties involved. An example is the partnership between Coforge Limited, an India-based digital services provider, and Cisco AppDynamics, a US-based web performance monitoring tool. This collaboration aims to develop a new Performance Monitoring-as-a-Service (PMaaS) offering for mission-critical applications, initially supporting Pega, a provider of business decision-making software.
In March 2021, Tricentis, a US-based testing platform for modern cloud applications, acquired Neotys, a France-based web performance testing company. This strategic move enhances Tricentis' AI-driven, end-to-end continuous testing platform, positioning it as a comprehensive solution to expedite software delivery and innovation.
Major companies operating in the in the web performance market report are Micro Focus International PLC, International Business Machines Corporation, Akamai Technologies Inc., Dynatrace LLC, Neustar Inc., Apica AB, AppDynamics, BlazeMeter Inc., CA Technologies, Catchpoint Systems Inc., Cavisson Systems Inc., CDNetworks, Cloudflare Inc., F5 Inc., GTmetrix, Instart Logic Inc., KeyCDN, Load Impact AB, New Relic Inc., Pingdom AB, Rigor Group Private Limited, Siteimprove A/S, SOASTA Inc., SolarWinds Worldwide LLC, SpeedCurve, ThousandEyes Inc., Uptrends LLC, WebPageTest, Yottaa Inc., Zenq Technologies Private Limited
North America was the largest region in the web performance market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the web performance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the web performance market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The web performance market includes revenues earned by entities by allowing accessibility as well as other website metrics that support an organization's or company's objectives. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.