The report forecasts the global domain name system tools market to grow at a CAGR of 10.16% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, one of the primary drivers in the market is need to reduce overall budget. The economic downturn across the globe has led to an increase in the popularity of the managed DNS service providers model, as companies want to reduce their IT expenditure and invest more in their core operations. Hence, organizations are outsourcing their security needs that will help them reduce their capital investment and their overall budget. In addition, during the economic downturn, some managed DNS service providers could capitalize on innovative sourcing models, thus reducing companies' capital expenditure. This has helped managed DNS service providers gain market share and popularity.
Further, the report states that one major challenge in the market is growing network complexity. With the adoption of IoT, the usage of cloud computing, big data, and mobile devices has increased. This has increased the complexity of IT infrastructure, and organizations are finding it difficult to provide optimal security and service levels to their businesses. Identifying legitimate end-users is also a major challenge, as a number of consumers are connected through networks, engaging in a broad range of activities such as e-commerce, online transactions, online payments, and other financial transactions.