PUNE, India, April 16, 2020 /PRNewswire/ -- The global Web Hosting Services market is set to gain momentum from the rising demand for state-of-the-art cloud platforms. These platforms aid in lowering the count and role of physical data centers. Fortune Business Insights™ put forward this information in a recent report, titled, "Web Hosting Services Market Size, Share & Industry Analysis, By Type (Shared Hosting, Dedicated Hosting, Collocated Hosting, Virtual Private Server Hosting and Others), By Application (Public Website, Mobile Application, Intranet Site and Online Application), By Deployment (Public Cloud, Private Cloud and Hybrid Cloud), and Regional Forecast, 2019-2026." The report further states that the Web Hosting Services market size was USD 60.90 billion in 2018 and is projected to reach USD 183.18 billion by 2026, thereby exhibiting a CAGR of 15.1% during the forecast period.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Increasing Usage of Mobile Marketing Tools to Drive Growth
Owing to the excessive competition, each and every company is looking forward to advertise their products and services. Social media platforms have therefore, come to the rescue. With the increasing usage of internet and various social media platforms, companies are finding it efficient to use mobile marketing tools to exhibit their products and service to a large number of people at once. Every company needs a domain name and web platform for creating promotional activities and ads. It is set to aid in the Web Hosting Services market growth during the forecast period. However, the frequent occurrence of downtime is likely to obstruct market growth.
Ability to Provide Enough Storage Capacity will Drive the Dedicated Hosting Segment
Based on type, the market is fragmented into virtual private server hosting, collocated hosting, dedicated hosting, shared hosting, and others. Amongst these, the dedicated hosting segment held 27.9% website hosting service market share in 2018. This growth is attributable to the ability of this service to offer enough storage capacity. It also requires 99.9% uptime to maintain huge online traffic. Various companies across the globe are nowadays aiming to develop dedicated hosting services for providing the users with multiple advantages, such as authority management, security monitoring, and complete authorized control. The shared hosting segment is likely to hold the maximum share in the coming years on account of the increasing number of small and medium enterprises (SMEs) worldwide.
North America to Remain at Forefront Stoked by Rising Adoption of AI
In terms of geography, the market is categorized into the Middle East and Africa, North America, Europe, Asia Pacific, and Latin America. Out of these, Asia Pacific procured USD 12.50 billion in terms of Web Hosting Services market revenue in 2018. This growth is attributable to the expansion of SMEs in several sectors, namely, public, corporate, and retail. Pre-existing companies are mainly focusing on creating unique products to cater to the rising consumer needs. Additionally, many hosting service providers belonging to Japan and India are initiating projects to refine their portfolio. These factors are likely to contribute to growth.
North America, on the other hand, is set to dominate the market because of rising adoption of artificial intelligence. Also, companies such as GoDaddy Inc., AT&T Inc., and Amazon Web Services are positively affecting the market in this region. AI-equipped services help in providing the users with deleting unwanted files, domain name performance and protection, self-repairing system, and advanced security.
Key Players Focus on Broadening Geographic Presence to Compete in Market
Companies operating in the market are trying their best to increase their geographic presence and gain a large consumer base. They are striving persistently to create new prospects to aid various start-ups and e-commerce websites in adopting innovative services equipped with AI, IoT, and more. Below are a few of the latest industry developments:
May 2019: AT&T, Inc. declared that it chose Synacor Inc. to be a provider of Web Hosting Servicess. The latter provides a broad range of video streaming, web hosting, and cloud-based offerings.
January 2018: Amazon Web Services invested a hefty amount of money to develop its data centers in France and Britain. It enabled the company to widen its geographic presence.
List of the Key Companies that are Operating in the Web Hosting Services Market. They are as follows:
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