Vancouver, Oct. 31, 2023 (GLOBE NEWSWIRE) — The global web hosting services market is experiencing remarkable growth, with a 21.3% revenue Compound Annual Growth Rate (CAGR) expected during the forecast period. In 2022, the market reached a substantial value of USD 86.00 billion. Several key factors are driving this remarkable expansion, including the increasing number of Small and Medium-sized Enterprises (SMEs), technological advancements, heightened focus on security, and a growing trend toward green hosting.
SMEs Drive Growth
The increasing number of SMEs is a major driving force behind the market’s success. SMEs prioritize their online presence, and web hosting companies are increasingly catering to their needs. India, with its 50 million MSMEs, stands as one of the world’s…