Market Trends of Web Performance Industry
This section covers the major market trends shaping the Web Performance Market according to our research experts:
Retail is Expected to Hold Significant Share
- As retailers focus more and more on eCommerce initiatives, site performance becomes increasingly critical, especially when it comes to mobile efforts. A speedy and consistent online shopping experience will take customers through checkout. If page load speed is lagging, shoppers will be quick to leave and head to Amazon or a competitor. Overall, a faster site translates to more sales, and many brands agree. By optimizing the eCommerce site for performance, not only will the online shopping experience be consistent and fast, the website will be armed and organized against threats, such as becoming non-compliant to privacy laws, exposing customer data, or experiencing significant performance anomalies due to increases in traffic or third party failures.
- According to TotalRetail, one second of page delay could cost Amazon.com USD 1.6 billion in annual revenue. But scraping this one second is a complex task, especially for online retail, with websites all about product images. Consumers require to see high-quality photos of a product from every angle before they click "Add to Cart." A large number of high-resolution images mean large page sizes and a proportionally large chance of a slow-loading page. According to a report, if users have to wait longer than five seconds for a page to load, they're 20 percent more likely to leave a website without buying anything, and chances are, they'll never come back. So even though the picture quality is essential, excellent web performance plays quite a vital role in e-commerce.
- Google Lighthouse Score is a popular method used by online retailers to measure performance for mobile devices on chrome browsers only. According to the 2020 e-commerce leaders survey report, retail leaders are trying to get high scores by investing in web performance solutions in 2020. By meeting the standard framework for fast-loading mobile pages, brands can hit a more top mobile SEO ranking, driving more traffic to their sites and potentially boosting their Lighthouse Score. However, 28%, including the most prominent brands surveyed, do not believe Google Lighthouse data is an accurate representation of their site's performance, and 69% understand the Google Lighthouse Score is comparing their complex e-commerce site to simple, non-eCommerce sites.
- According to SEMrush, since 52% of consumers are trying to implement social distancing, more people are shopping online for a growing number of new product categories. So, it is not just about a rapid rise in online purchases but also about the nature of that demand. Some of the biggest retail chains have already been announcing that they are expanding their e-commerce sales, but COVID-19 has expedited this process. And although these businesses may seem to be better equipped to serve the customer needs, this shift is spanning out of control due to the pandemic. Consumers start purchasing in categories that weren't forecasted to see such a rapid rise in online shopping. Web performance became a critical priority for retailers, as users expect instant, secure, and reliable access to online shopping, from any device and location.
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North America is Expected to Hold Significant Share
- Most people working on the websites being built are working on fast laptops, on wired or relatively quick connections within the North American region. A user of a website could instead be on a mobile device and mobile network, a computer outside of the U.S., or a system that is congested or just plain slow. Being on a network outside the United States could mean an extra 150 milliseconds in round trip time to the server due to the long distance the signal has to travel translates to seconds more time in loading a page. Various types of networks, such as satellite networks, have much higher round trip times, leading to longer times while loading a page. When considering the speed of site loading, it's essential to deploy adequate web performance solutions to know the web site's performance in such a situation.
- The U.S. Web Design Systems (USWDS) is a government organization that provides principles, guidance, and code to help various users design and build accessible, mobile-friendly government websites and digital services. According to USWDS, as technology becomes more prevalent in the United States, it's more common than the primary way Americans interact with the government is through the web. Ensuring that government sites perform swiftly for all ensures that all the users in the American religion have a better user experience and aren't blocked from the web services they require, tacking and improving a site's performance is the primary step for ensuring that a website can reach as full of a userbase as possible.
- The prevalence of mobile usage of websites in the region also significantly contributes to a site's speed for a customer. According to the Digital analytics program run by USWDS, roughly 37% of traffic to government sites is from mobile devices. While wired and wi-fi networks provide reliable performance, mobile networks can rapidly change from fast 4G connections to relatively slow 3G connections, to periods of being disconnected. Smaller devices, such as mobile phones, don't have adequate CPU power to quickly download and process multiple resources. By limiting the measurement of the performance of a site to just a user on a fast connection and device, a considerable amount of the site's user base could be left with a site that's very difficult to use and interact with, due to poor performance.
- The companies present in the region are updating their existing web performance solutions. For instance, in August 2019, SolarWinds, a US-based IT management solution provider, announced updates to their web performance monitoring (WPM) solutions, Web Performance Monitor 3.0, and Pingdom. Web Performance Monitor, which is part of SolarWinds' Orion Platform, tracks the performance of internally-developed websites and web-based applications. The updates are made to make it easier for users with complex IT infrastructures, including hybrid cloud and multi-cloud deployments, to observe website and web application performance. For Pingdom, SolarWinds has added the latest website application performance monitoring features with these updates.
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