The Global Market for Web Hosting Services is Forecast to Reach US$204.6 Billion by 2024

Rising Cost of In-House Design & Ownership of Websites to Drive Opportunities for Web Hosting Services in the Era of Internet Indispensability, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Web Hosting Services market. The global market for Web Hosting Services is forecast to reach US$204.6 billion by 2024, driven by the need to reduce costs associated with designing, managing, maintaining and owning websites.  

With the Internet evolving into a public utility in the 21st century, the need to maintain online presence through websites is a key survival necessity for both large businesses and SMBs. The Internet has revolutionized modern life in numerous ways such as providing instant access to a wealth of information; by connecting geographically dispersed regions and making the world into a global village; and by enhancing the speed of communication and ease of information sharing (i.e. social media, photos, videos and music). As increasing number of consumers use the Internet as the primary source for information access, entertainment, social interaction, and for carrying out myriad of life’s transactions, there is increasing pressure on businesses to maintain an online presence to attract new customers and retain existing customers.

Given the emerging era of Internet indispensability, “Websites” represent a critical medium that facilitates relationships between businesses and their customers and also among businesses. Building customer relationships online through websites is therefore a vital prerequisite for survival in the modern market environment. Other key benefits of having a website are easy and widespread company visibility in the virtual world; ability to influence product perceptions through information displayed on websites; higher ROI on marketing investments, generates lasting value for companies, and also provides the ability to provide self-service customer support thus improving customer satisfaction. A 24/7 website enables companies to flexibly respond to customer needs even beyond business hours.

Against a backdrop where companies are adopting the guiding principle of “Do More With Less”, web hosting services offer numerous cost and efficiency benefits such as pay as you use billing options, on-demand scalability of infrastructure, elimination of the need to hire in-house webmasters since troubleshooting is provided by hosted service provider, low cost maintenance as managing servers, security updates, technical support are part of the packaged service fee. With server requirements changing in tandem with changes in the business environment, using a web hosting service ensures on-demand scalability. Hosting services eliminate the need for investment in expensive equipment, thereby reducing idling of resources. Web server hosting service providers often provide for a fee datacenter space, file storage facility, directory setup and database for website files such as HTML and graphic images, and also web site design, creation, and development services. Other advantages of web hosting include superior website performance, and reduced downtime.

As stated by the new market research report on Web Hosting Services, the United States represents the largest market worldwide. Asia-Pacific is poised to emerge as the fastest growing market with a CAGR of 17.3% over the analysis period led by factors such as developing internet infrastructure, increasing disposable incomes, robust growth of e-commerce in developing Asian countries, and growing number of cloud based service providers. Growth in the region is also poised to benefit from the growing number of service providers offering CDN (Content Delivery Network) service along with the primary web hosting package, mostly in partnership with pure play CDN companies.    

Major players in the market include 1&1 internet Inc., Alibaba Cloud, Amazon Web Services, DreamHost, Bluehost, Cogeco Peer 1, HostGator.com, Google Cloud Platform, Go Daddy Operating Company, LLC, Hetzner Online GmbH, Host Europe, Liquid Web, LeaseWeb, Media Temple, OVH, Rackspace Hosting Inc., and STRATO International among others. 

The research report titled “Web Hosting Services: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections for all major geographic markets such as the USA, Canada, Japan, Europe (France, Germany, Italy, UK and Rest of Europe), Asia-Pacific, and Rest of World.

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