The global DNS tools market was valued at more than $821 million in 2015 and is expected to reach almost $1,420 million by 2020, says Technavio.
Technavio’s has announced its latest market research report on DNS tools for the forecast period, 2016-2020. This market analysis, under the IT security vertical, discusses the major drivers and key emerging trends that will influence the growth of the global DNS tools market during the forecast period. Some of the top vendors listed in this industry analysis include GoDaddy, MarkMonitor, NetNames, and Verisign.
In terms of geographical analysis, the Americas will account for the largest share of the global market and is expected to reach revenues of more than $493 million by 2020. The US and Canada will emerge as the key revenue generators in this region.
“The rising use of mobile devices such as laptops, netbooks, cell phones, and other handheld devices is propelling the demand for DNS tools in the global market. The increasing amount of data and critical information stored on mobile devices creates the need for updated security, leading to the demand for DNS tools. Factors such as the rise in the need for employee mobility and increased demand for continuous connectivity between a corporate network and employee mobile devices are the main drivers propelling the adoption of mobile devices,” says Ishmeet Kaur, a lead analyst at Technavio for IT security.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Need for enhanced business productivity
Globally, there is an increased need to improve productivity of businesses to gain competitive advantages such as optimization of capacity, reduction of lead time and cost, and increased profit through developing IT infrastructure. This emphasis on enhancing business productivity is propelling the demand for DNS tools in the global market. Enterprises are looking for business solutions that can accelerate the growth of an organization with the right applications required for effective functioning. Post-2010, many companies have deployed applications that help improve efficiency and productivity, which, in turn, helps them meet their business demands quickly and remain competitive.
Need to comply with multiple regulations
Concerns about data privacy have resulted in the need for companies to abide by regulations such as HIPPA (for the healthcare sector), GLBA, BASEL II, PCI-DSS, and Sarbanes-Oxley . Non-compliance with regulations may lead to penalties for organizations. These regulations guarantee that there are detailed plans to ensure that end-users are authenticated before accessing any confidential data, and necessary steps are adopted by organizations to maintain security. As a result, several companies are opting for managed DNS service providers to control data breaches because of the strict data privacy regulations.
Need to reduce overall budget
Companies are increasingly adopting the managed DNS service providers model to reduce their IT expenditure and make more investments in their core operations. The trend is spurred by the economic downturn across the globe. Several organizations are now outsourcing their security needs to reduce their capital investment and their overall budget. Furthermore, during the economic downturn, some managed DNS service providers could capitalize on innovative sourcing models, thus reducing companies’ capital expenditure. This is creating an upsurge in demand for DNS tools leading to growth opportunities for DNS vendors.
Some of the other prominent vendors identified in this report are Akamai Technologies, Dyn, DNS Made Easy, DNSPod, easyDNS Technologies, Moniker Online Services, MyDomain, Network Solutions, Rackspace DNS Cloud, and Zerigo.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global DNS Tools Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Cyber Security Market 2016-2020
- Global Critical Infrastructure Protection Market 2016-2020
- Global Enterprise Cyber Security Market 2015-2019
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