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The global web hosting services market size was valued at USD 94.64 billion in 2022. Fortune Business Insights™ in its report titled “Web Hosting Services Market Size, & Share COVID-19 Impact Analysis, By Type (Shared Hosting, Dedicated Hosting, Collocated Hosting, Virtual Private Server Hosting, Managed Hosting, Self-Managed Hosting, and Others), By Application (Public Website, Mobile Application, Intranet Site, and Online Application), By Deployment (Public Cloud, Private Cloud, and Hybrid Cloud), and Regional Forecast, 2023-2030” observes that the market is projected to grow from USD 108.54 billion in 2023 to USD 395.84 billion by 2030, exhibiting a CAGR of 20.3% during the forecast period. The rising number of SMEs and increasing adoption of services are the key factors propelling market expansion.
WP Engine Announces the Launch of Managed WordPress Platform on Microsoft Azure
WP Engine announced the launch of its Managed WordPress Platform on Microsoft Azure. Companies who prefer Microsoft can now choose Azure to build and scale WordPress experiences with WP Engine, meeting advanced IT and technology requirements for scaled performance and certified security for enterprise and SMB businesses. The WP Engine platform is available to all businesses across the U.S. and the Netherlands as of now and will expand into other regions throughout 2023 to serve more global customers.
Shift of Business Operations Online Amid the Pandemic Aided Market Growth
The spread of the COVID-19 pandemic resulted in nationwide shutdowns, which encouraged businesses to shift their business operations to the cloud, thus aiding market growth. Increasing penetration of smartphones and the internet has made it crucial for businesses to have a strong online presence. Companies adopted web hosting services to target general customers for future growth plans. Moreover, the pandemic increased consumers' reliance on the internet for purchasing decisions. Businesses saw the pandemic as an opportunity to adopt hosting services and scale up their consumer services, thus aiding market growth.
Surging Demand for Multi-cloud Hosting Services to Drive Market Expansion
Adopting multi-cloud hosting services help enterprises in avoiding the disadvantages of single-vendor reliance. Different web hosting vendors have different specialties. Thus, a multi-cloud hosting environment allows enterprises to opt for several web hosting capabilities simultaneously. No single hosting provider can provide hosting services to all the problems the enterprise may encounter with its online presence, thus bringing the need to adopt multi-cloud hosting services. Several web hosting providers target multi-cloud hosting customers to scale their businesses. For example, in November 2022, WP Engine extended its multi-cloud solution by implementing its Managed WordPress Platform on Microsoft Azure. This extension allows Microsoft customers to access the multi-cloud platform on Azure. Thus, the rising popularity of multi-cloud hosting solutions will aid the market growth.
On the other hand, the high initial costs of adopting web hosting services, difficulties in achieving scalability, and maintaining uptime will act as challenges for businesses operating in this domain.
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/industry-reports/web-hosting-services-market-100863
Efforts to Expand Geographical Presence by Leading Companies to Boost Market Augmentation
Leading players in the global market are making tactical decisions such as product launches, mergers and acquisitions, and joint ventures to earn high profits, expand geographical reach, and offer better services to their customer base. For instance, in June 2022, WP Engine, the WordPress technology company, expanded its global presence in the Nordics. The company aims to target the rising number of popular agencies and brands in Northern Europe. These brands have been reimagining their digital footprints with WordPress.
Notable Industry Development
List of Key Companies Profiled in the Report:
Further Report Findings
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Unit | Value (USD Billion) |
Growth Rate | CAGR of 20.3% from 2023 to 2030 |
By Type |
|
By Application |
|
By Deployment |
|
By Region |
|