Rapid growth of the data center traffic increased growth of small & medium enterprise (SME), surge in population growth & urbanization driving the market growth

PORTLAND, OREGON, UNITED STATES, November 6, 2020 /EINPresswire.com/ -- According to the report by Allied Market Research, the global application delivery controllers (ADC) market was pegged at $2.94 billion in 2017 and is estimated to reach $4.19 billion by 2023, registering a CAGR of 5.3% from 2017 to 2023. The research offers a comprehensive analysis of changing market trends, major segments, key winning policies, and competitive perception. Rapid growth of the data center traffic, increased growth of small & medium enterprise (SME), surge in population growth & urbanization are the factors driving the market growth. Increase in complications in the IT & telecom sector and growth in demand for cloud applications are expected to create lucrative opportunities in the near future.

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Based on the deployment type, the hardware segment carried the largest revenue share in 2017, contributing nearly three-fifths of the total market share. This segment is expected to dominate throughout the forecast period. However, software/virtual segment would grow at the highest CAGR of 7.6% from 2017 to 2023.

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On the basis of enterprises size, the large enterprises segment contributed the highest share in 2017, accounting for more than half of the market. Whereas, SMEs is estimated to register the fastest CAGR of 6.2% during the forecast period.

Based on end user, the IT and telecom segment held the major market share in 2017, accounting for more than one-fourth of the total market share in 2017, and will maintain its lead position throughout the forecast period. On the other hand, the government segment is expected to register the fastest CAGR of 6.9% from 2017 to 2023.

Based on regions, North America held the major market share in 2017, accounting for nearly two-fifths of the total market share. This region would continue its leadership position throughout the forecast period. Moreover, the Asia-Pacific region would grow at the highest CAGR of 6.8% from 2017 to 2023.

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Leading market players examined in the research include KEMP Technologies Inc, Array Networks, Brocade Communications Systems, A10 Networks Inc., Citrix Systems Inc., Dell Inc., Barracuda Networks Inc., Cisco Systems Inc., and F5 Networks Inc.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP 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." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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