New York, US, July 27, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Managed DNS Service Market information by types of Standards, by Components, by Application and Region – forecast to 2027” market size to grow US$ 190.2 million in 2025 growing at 11.3% CAGR.
Managed DNS service solutions have transformed business operations with fast, integrated intelligence. As enterprises go through digital transformation, such as embracing and leveraging various new data types and forms, the market garners significant traction witnessing substantial demand.
The increasing adoption of managed DNS service technology in various verticals such as BFSI, media & entertainment, healthcare, retail & consumer goods, government, education, e-commerce fosters market growth. Another factor propelling the managed DNS service industry is the increasing threat of cyber-attacks.
Matured service providers operating in the field of managed DNS have helped the network operators provide advanced managed DNS services, promoting market growth across the globe. Several countries in the European and North American regions have introduced policies to offer high-speed data services to network operators. These, as a result, drive the growth of the managed DNS service market.
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Dominant Key Players on Managed DNS Service Market Covered Are:
Oracle Corporation (Dyn)
Amazon Web Services Inc.
EasyDNS Technologies Inc.
Rackspace US Inc.
Microtech USA LLC
Market USP Exclusively Encompassed:
Rise in DDoS Attacks Offers Significant Opportunities
The managed DNS service market is growing at a rapid pace. Managed DNS services reduce the complexities in maintaining and controlling data traffic. The market growth attributes to the demand for an easy and secure cloud environment for data transmission. Besides, growing economies, demand for risk-free data center infrastructure, and rising government concerns regarding data security boost the managed DNS service market size. Increase in the adoption of managed DNS services across various verticals positively impacts the growth of the market. Therefore, the market is garnering exponential traction worldwide.
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Segmentation of Market covered in the research:
The managed DNS service forecast is segmented into service type, organization size, industry vertical, and region.
The service type segment is sub-segmented into premium/advance DNS, DDos protected DNS and GeoDNS. Among these, the DDoS-protected DNS accounts for one of the fastest-growing segments among mid-size and large enterprises. The segment growth attributes to the growing DDoS attacks, making enterprises adopt DDoS-protected DNS.
The organization size segment is sub-segmented into small and medium enterprises and large enterprises. Of these, the small & medium-size enterprises account for the fastest-growing segment due to the rapid adoption of managed DNS services for its cost-effectiveness and comprehensiveness.
The industry vertical segment is sub-segmented into BFSI, media & entertainment, healthcare, retail & consumer goods, government, education, e-commerce, and others. It is observed that the managed DNS service deployment is high in all these industry verticals to manage DNS, without any additional investment efficiently.
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North America dominates the global managed DNS service market. The largest market share attributes to the strong presence of notable managed DNS service providers that offer services to local as well as international clients.
The leading players in the region, including Neustar, Inc., Cloudflare, Inc., Amazon Web Services, Inc., and Google Inc., among others, offer protection against DDoS attacks, migration services, DNS failover services, location-based routing, and zone-based routing. The North American managed DNS service market is expected to continue with its dominance throughout the forecast period.
Europe holds the second-best position globally in terms of managed DNS service market revenue. The market growth is boosted by the increase in numbers of small- and medium-sized enterprises availing various managed DNS services. The rapid adoption of managed DNS services in SMEs in IT and telecommunication, retail, and BFSI industry verticals increase the region’s market share. Additionally, the spurring rise in banking & finance, and healthcare sectors boosts the region’s managed DNS services market size.
The Asia Pacific is witnessing a spurring rise in the managed DNS service market value. Factors such as the burgeoning manufacturing and BFSI sectors in the region foster the managed DNS services industry in the region. Growing investments in the development of networking technology initiatives taken towards promoting digitalization are the major managed DNS services market trends. The APAC managed DNS service market is projected to grow at the highest CAGR during the assessment period.
COVID-19 Impact on the Global Managed DNS Service Market
The COVID-19 crises across the world significantly influenced the managed DNS service market. The pandemic caused major revenue losses to most of the industries. However, the need for rapid data processing and big data across various verticals increased hugely.
The lockdown in countries worldwide increased DNS activities, and various events, like daily broadcasts on the state of the pandemic, mapped directly to DNS traffic activity. This scenario presented several opportunities for the market increasing the demand for managed DNS service technology globally. The managed DNS service market is estimated to grow further significantly during the assessment period.
The augmented adoption of managed DNS services across small, medium, and large organizations escalates market growth. Increasing investments to develop new methods that can significantly increase the networking power contributes to the growth of the market. Furthermore, increasing application areas and wide uptake of managed DNS service would support the market growth throughout the assessment period.
Rising numbers of distributed denials of service (DDoS) attacks are critical driving forces behind the adoption of managed DNS services. Telecommunication providers and cloud hosting service providers are usually targeted for DDoS attacks. During the first quarter of 2018, the average number of attacks increased, and attackers have been finding new ways of magnifying the impact currently.
Managed DNS service providers offer DNS management at a considerably affordable price, helping small and mid-size organizations to manage DNS without incurring an additional cost. Enterprise is, therefore, turning towards managed DNS services as it offers management of DNS at more affordable prices.
The managed DNS service market is estimated to witness several strategic partnerships, alongside other strategic initiatives such as expansion, collaboration, mergers & acquisitions, and product & technology launches. Leading industry players make strategic investments in research and development activities and fostering their expansion plans.
For instance, recently, on Nov 03, 2020, Neustar, Inc., an American technology company, announced the acquisition of Verisign’s recursive public DNS service, putting the widely-used 126.96.36.199 address under Neustar’s recursive UltraDNS Public service. The addition of Verisign Public DNS increases Neustar’s ability to deliver world-class security services that customers can depend upon.
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