According to a report published by Future Market insights the market for cloud load balancers in 2022 was valued at US$ 7.76 billion. The market is expected to reach US$ 33.08 billion by 2033 with an estimated CAGR of 15.6 % from 2023 to 2033. There is a pressing need for cloud load balancing in the current market. The interest in cloud computing, applications, and virtual environments is continually on the rise. In modern IT infrastructure, load balancers are widely used to distribute workloads across multiple servers to speed up processing power and server response times.
Cloud load balancers are becoming increasingly important for improving the performance of applications, cloud security solutions are becoming increasingly important, and cost-of-ownership is becoming increasingly important. All of these factors are expected to propel the market's growth. The concept of cloud computing refers to the sharing of resources over a network as services that are billed based on a pay-as-you-go model. Amazon, Google, Microsoft, IBM, SAP, VMware, Oracle, Salesforce, and others are some top players in the industry. Load balancing in the cloud allows enterprises to allocate resources to multiple computers, web servers, or networks of the same enterprise in an even manner, thereby allowing enterprises to manage their client requests more efficiently, reducing the cost of computing for enterprises.
With technological advancements, businesses are exploring new ways to utilize Cloud computing for gaining access to better statistics, among other things. Migrating applications and resources to the cloud can benefit from cloud balancing due to its advanced capabilities. In case of large spikes in traffic, servers can be overwhelmed, resulting in downtime and other issues. As a result, cloud load balancing is an effective way to distribute it across numerous servers and networks to widen the distribution area.
Several e-commerce companies would benefit greatly from this, especially when dealing with large volumes of traffic during special events such as Black Friday. It is increasingly common to implement automated load-balancing technologies instead of manual ones. By automating, scalability can be increased and the amount of time and effort spent managing it can be decreased. Traffic can be managed more efficiently and reliably with automated load-balancing technologies.
Compared with traditional load balancers, cloud load balancers provide scalability, efficiency, and reliability. A cloud load balancer usually has a lower cost and can be scaled up or down more easily than a traditional load balancer. A cloud load balancer also provides additional features, including autoscaling, a way to make sure all users always have access to their apps even when the load balancer is not working or unavailable. Other cloud services can be integrated with cloud load balancers to provide a comprehensive solution.
North American customers can use Google Cloud Load Balancing. For applications running on Google Compute Engine and Google Kubernetes Engine, Google Cloud Load Balancing offers advanced network load balancing and traffic management. By using this service, traffic is distributed across different zones, clusters, and virtual machines in different geographical locations. With the introduction of the first jointly managed OpenShift offering in the public cloud, Red Hat and Microsoft enhanced their partnership in delivering on-premises and Azure container-based applications. A combination of OpenShift and Azure, Microsoft's public cloud, created an offering that combined the power of OpenShift and the capabilities of Azure.
A cloud load balancer is one of the most promising products in the market in the near future. With cloud computing becoming more and more popular, cloud load balancers are a more cost-effective and scalable alternative to traditional load balancers, allowing businesses to leverage reliability, scalability, and cost-efficiency. Cloud computing is becoming more popular among small businesses of all kinds. Cloud load balancers will therefore be in high demand in the market in the coming years.
| Data Points | Key Statistics |
|---|---|
| Estimated Base Year Value (2022) | US$ 7 billion |
| Expected Market Value (2023) | US$ 7.76 billion |
| Anticipated Forecast Value (2033) | US$ 33.08 billion |
| Projected Growth Rate (2023 to 2033) | 15.6% CAGR |
Cloud load balancing solution balances the traffic among servers to improve uptime and easily scale applications by adding or removing servers, with minimal disruption to traffic flows.
Cloud load balancing can put resources behind a single anycast IP and scale resources up or down with intelligent auto scaling, by building flexible networks that meet evolving demands by improving performance and security for many types of traffic and services and applications.
For instance, Hetzner launched a new cloud load balancers that can automatically distribute incoming traffic to the background infrastructure.
The demand for the cloud load balancers is likely to increase, due to high online traffic growth geographically across multiple data centers.
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Increased Awareness among Enterprises about the Benefits of Cloud and Networking Technologies
The awareness for cloud and networking technologies are high in government, defense and retail sector as a reliable cloud network provides centralized management, control and visibility,
for example, managing devices in different physical locations using the internet. It can be used for connectivity, security, management and control. Additionally, Using cloud architecture in thousands of different locations globally, cloud networking allows organizations to deliver content faster and monitor their devices and operations in real-time.
It also helps to keep them abreast of any network security issues, including monitoring high volumes of traffic.
Increased Network Complexity and Varied Traffic Pattern
The main driving factors for the cloud load balancers market are the increasing evolution and demand in mobility, the increased network complexity and varied traffic pattern, and the surge in demand for cloud service, data center consolidation, and server virtualization.
The cloud load balancers is set to redefine the networking infrastructure to meet the growing number of network users consuming a high bandwidth
With a decoupled control plane that can be complimented with various Artificial Intelligence (AI)-based software tools, a lucid improvisation to the traditionally distributed control plane is feasible, enabling an intelligent and efficient network.
Limitations due to Traditional Networking Ecosystem Implementation
Some of the major challenges hampering the growth of the global cloud load balancers market are the implementation of traditional networking which is rooted in fixed-function network devices, such as a switch or router.
These devices each have certain functions that operate well together and support the network. If the network’s functions are implemented as hardware constructs, then its speed is usually bolstered.
Key players in the cloud load balancers market are focusing on new product launches and acquisitions with the technology vendors to offer high data center traffic, and server virtualization.
The major players offering Cloud Load Balancers solutions include
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global cloud load balancers market.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with cloud load balancers market attractiveness as per segments.
The report on cloud load balancers market also maps the qualitative impact of various factors on cloud load balancers market segments and geographies.
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Cloud Load Balancers Market
