Web Hosting Services Market Size Worth $171.4 Billion By 2027
The global web hosting services market size is expected to reach USD 171.4 billion by 2027, registering a compound annual growth rate (CAGR) of 15.5% over the forecast period, according to a new study by Grand View Research, Inc. The rapidly growing adoption of smartphones, coupled with the increasing internet penetration rate is anticipated to boost the market growth. The growing number of websites has also contributed to the growth of the market.

The rising number of small and medium enterprises is one of the significant growth contributors. These enterprises use web hosting services to increase their presence over the internet. The shift in the customer buying behavior from brick and mortar stores to online channels has made organizations develop and expand their online presence. Companies all over the globe are massively investing in increasing their business presence over the online channels. Additionally, the growth in internet users, coupled with growing inclination toward online purchasing, has also resulted in increased traffic on big business websites and mobile applications, especially those engaged in e-commerce activities. Therefore, these large-scale enterprises opt for private servers to host their website. Private servers enable these companies to effectively manage their heavy traffic on websites with improved security accesses.

Moreover, individuals also host their content over the internet to make it available for everyone who wants to access it. This content can be in the form of a personal website, blogs, and vlogs, among others. People access these websites or blogs to gain information or insights related to a wide variety of topics, including science, technology, medicine, environment, among several others. Although individuals are observed to be contributing less than 10% in the overall market, web hosting service providers tend to offer various plans to increase their customer base.

The market is expected to witness significant growth as a result of COVID-19 outbreak. The pandemic has resulted in increased use of websites for placing orders and hence made most of the companies to change the way business is conducted. Most of the companies have switched to doing their business online. Therefore, in the coming years, companies will focus on developing their online presence to cater to such unprecedented times. This increasing focus on conducting online business activities is expected to positively influence the market growth over the forecast period.

Click the link below:

https://www.grandviewresearch.com/industry-analysis/web-hosting-services-market

Further key findings from the study suggest:
['Gaurav Shah']
['Spain', 'Italy', 'Germany', 'Ecommerce', 'Web Hosting']