The global software load balancer market is expected to grow at a significant CAGR during the forecast period 2024-2031. The software load balancer is a device that effectively serves as a network load management system for network traffic. The load balancing software devices are deployed to manage and distribute network traffics among cloud environments. These devices are mainly application delivery controllers (ADC) and are applicable to perform over a standard server or virtual machine that drive modern web application.
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The increasing adoption of the software load balancer for network load management among data centres and administrations is significantly impacting the market growth and is projected to enhance the growth of the global software load balancer market during the estimated period. Additionally, based on the specific configuration the Software Load Balancer apply to route network traffics toward relevant servers. This application of Software Load Balancer is expected to propel the market growth of the global market throughout the forecast.
The rising technological advancement in network infrastructure, increasing rate of digitization and beneficial initiatives and funding by the government are some major dynamics that are anticipated to excite the market growth and assign numerous possibilities for the global Software Load Balancer Market. Furthermore, the growing cloud-based technologies and the significant rise in global cloud traffic and IP traffic is expected to integrate various growth opportunities for the global software load balancer market and raise its market values during the forecast period.
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Market Coverage
- Segment Covered-
o By Type
o By Application
- Competitive Landscape- IBM Corp., Microsoft Corp., Google Inc., Nginx, AWS.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Software Load Balancer Market by Segment
By Type:
- Installed Load Balancers
- Load Balancer-as-a-Service (LBaaS)
By Application:
- IT & Telecommunication
- BFSI
- Government
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