As per a recent Fortune Business Insights report, the international market of web hosting services will possibly gain momentum, thanks to the increasing demand for modern cloud platforms. The platforms help to not just reduce the number of data centers, but these also lower the part they play. Going by the report, this market is expected to be worth $183.18 billion in six years from what was $60.9 billion in 2018. Therefore, the report shows a compound annual growth rate of 15.1% in the period for which the forecast is prepared.
A Summary Of The Coronavirus Disease’s Effect On The Market
The coronvirus pandemic has forced many places around the world to be on lockdown. Going by Fortune Business Insights’ information, the situation has affected businesses across sectors in a never-seen-before way. Nevertheless, the situation will clear itself soon. Increasing support from many businesses and governments could aid in dealing with the very contagious ‘COVID-19’. Some sectors are thriving, but others are having a difficult time. The epidemic is expected to affect most industries.
From this information, it can be inferred that even the internet space is having its effect. Many websites are already down due to the global issue. So the pressure on best web hosting service providers is more than before to ensure website accessibility to millions of users globally.
Increasing Utilization Of Digital Marketing Tools Expected To Cause Growth
Because of too much competition, all companies look to promote their offerings. This is where social networking websites come in handy. The use of the internet and social networking platforms is increasing, so businesses find using the marketing tools efficient to show their offerings to numerous individuals simultaneously. Each business requires a web platform and domain name for advertising and other promotional tasks.
Digital marketing is expected to help in the market’s growth in the period, but regular downtime might interfere with it.
Capability To Offer Sufficient Storage Resources To Propel Dedicated Hosting
There are many different web hosting services in the market. Dedicated server hosting had a market share of 27.9% two years ago. This growth can be attributed to the capability of dedicated hosting to provide sufficient storage capacity. There is a need for 99.9% server uptime to deal with a massive web traffic situation.
Many different companies globally are planning on developing dedicated hosting to offer users multiple benefits, like authority management, full authorized control, and security monitoring. With more and more small and mid-size businesses setting up shop globally, the shared web hosting sector is expected to have the most share down the road.