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

PORTLAND, PORTLAND, OR, UNITED STATE, February 7, 2022 /EINPresswire.com/ -- 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.

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.

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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.

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.

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.

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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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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