The web performance market is segmented on the basis of components (solutions and services), deployment types, organization size, verticals, and regions. MarketsandMarkets forecasts the web performance market size to grow from USD 3.50 billion in 2017 to USD 5.45 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 9.2% during the forecast period. The growth of the eCommerce industry and proliferation of images, videos, and rich media on the web are the major factors that are expected to drive the growth of the web performance market.
The global web performance market has experienced rapid growth in the past few decades. The high level of operational complexities involved in web performance has encouraged web developers and testers to adopt web performance solutions and services. Web performance is an important part of any business. The growing need among various industries to timely and effectively meet diverse customer demands in the highly competitive business environment has brought a surge in demand for web performance solutions. Vendors in the web performance market offer various solutions and services that assist in better performance monitoring to ensure maximized profitability.
In the services segment, the managed services segment is expected to have the highest CAGR during the forecast period. Web performance vendors provide managed services to their clients to cater to their different business needs. End-users have different business requirements that are handled by the managed service providers to help enterprises focus more on their core business. Furthermore, managed services help organizations enhance the customer relationship.
Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period in the global web performance market. With diversified geographic areas and a high customer base, the APAC region is expected to exhibit strong growth in the web performance market. The growth in this region is primarily driven by the growing awareness among enterprises about the web customer experience, especially among enterprises from the Banking, Financial Services, and Insurance (BFSI); Information Technology (IT) and telecom; retail; and healthcare sectors. All these trends in APAC are expected to support the overall growth of the web performance market.