Web hosting services market is seen growing at a rapid pace despite various data security and scalability challenges.
Web hosting services to grow rapidly
Report Consultant estimated that the market could reach $174 billion at a +17 compound annual growth rate (CAGR) from 2019 to 2025.
The forecast is supported by two other independent industry reports also pointing to a strong market.
Market Research Future (MRFR) predicts the market to reach $154 Billion at 16% CAGR from 2016 to 2022 as it continues to gain prominence.
The market is currently valued at $32.14 billion
Meanwhile, the market research firm expects the web hosting services market to reach $76.2 billion valuations at a 15.9% CAGR from 2018-2013.
In a statement, MRFR said: “The global web hosting services market is witnessing a significant rise in demand due to factors such as the escalating sale of smartphones, the increase in e-commerce trade, growing number of SMEs, increasing awareness of green hosting.”
What is web hosting services?
A web hosting service is dedicated to enabling individuals and organizations to post content such as a website or web page to the Internet. A web host is responsible for providing the necessary services and technologies for the content to be viewed over the web. Servers, meanwhile are special computers where websites are stored or hosted.
Web hosting services are a major game changer in the e-commerce sector. A crucial feature that comes with these services is the website that enables database creation. Internet-based businesses cannot go by without it.
Another vital feature is that through web hosting, businesses are able to add to their website functions such as forums, shopping carts for e-commerce sites, chat panels, and communities. These functions enable businesses to communicate with their customers and get a better grasp of how they view their sites.
Some of the prominent players include AT&T Inc. (U.S.), Amazon Web Services (U.S.) Dreamhost Inc. (U.S.), Equinix Inc. (U.S.), Earthlink Inc. (U.S.), Google Inc. (U.S.), GoDaddy Inc. (U.S.), Endurance Technologies Ltd. (U.S.), Justhost (U.S.), Web.Com Group Inc. (U.S.), and WebHostingHub.com.