The global web hosting services industry was pegged at $57.46 billion in 2019, and is projected to reach $183.05 billion by 2027, manifesting a CAGR of 15.2% from 2020 to 2027, according to a new report published by Allied Market Research (AMR).
Rise in the number of organizations across the globe and their efforts to have online presence, increase in mobile marketing platforms, and availability of web hosting services with excellent server performance would fuel the growth of the overall global web hosting services market.
Growth in demand for managed web hosting services and rise in call for best web hosting services during the COVID-19 pandemic further drive the growth of the global market. The outbreak of the pandemic led to increase the online selling platforms. As a result, the adoption of web hosting services further increased, thereby augmenting the demand for the global market. On the other hand, challenges related to providing scalability and maintaining uptime hamper the growth to some extent.
Artificial intelligence (AI) in web hosting and rise in adoption of cloud-based gaming solutions are anticipated to present lucrative opportunities in the coming years.
Website Builders, Public Cloud
The shared web hosting segment held the highest market share, with more than one-third of the market share in 2019. The segment is expected to maintain its dominance by the end of 2027. However, the website builders segment is expected to register the fastest CAGR of 18.0% throughout the forecast period.
Based on deployment model, the public cloud segment held more than two-fifths of the global market revenue in 2019, and is anticipated to lead the trail by 2027. However, the hybrid cloud segment is expected to manifest the fastest CAGR of 17.2% from 2020 to 2027.
Allied Market Research is a full-service market research and business-consulting wing of Allied Analytics based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of ‘Market Research Reports’ and Business Intelligence Solutions.