China Leads APAC Networking Equipment Market
The Asia-Pacific (APAC) networking equipment market growth is facilitated by factors such as escalating bandwidth requirement and surging data traffic. Due to these, the market will grow at a CAGR of 11.3% during the forecast period (2019–2024). The market generated a revenue of $22,875.2 million in 2018 and it is projected to reach $42,753.4 million by 2024. This growth will also be driven by the growing focus toward digital transformation, increasing adoption of the internet of things (IoT)-enabled devices, and rising deployment of cloud-based services.
Another key factor driving the market is the increasing cybersecurity spending by business and government organizations. Enterprises in the region are more likely to be attacked by hackers in comparison to other regions, owing to the lack of strong cybersecurity tools and technologies in APAC. For instance, in 2017, personal data of 850 personnel was stolen from online portal of the Defense Ministry of Singapore. To deal with such unprecedented situation, governments and enterprises have started adopting network security devices such as intrusion detection systems, application security systems, and firewall.
Get More Insights: APAC Networking Equipment Market Revenue Estimation and Growth Forecast Report
At present, the APAC networking equipment market is observing a key trend of rising adoption of category 6 cables in the region. Previously, APAC nations used to employ category 5 and category 5e unshielded twisted pair (UTP) cables for data applications. However, novel applications need cables with high performance that can offer wider bandwidth and greater data transfer rate. Adoption of category 6 cables is due to the surging requirement to reduce alien crosstalk and signal attenuation between cable pairs to accumulate the need for advanced applications such as gigabit ethernet.
Moreover, the hospitality industry in the region is also creating ample growth opportunities for the APAC networking equipment market. The hospitality sector is experiencing positive growth in countries such as Japan and India. In contemporary times, Wi-Fi has become a necessity and this has led to the installation of Wi-Fi devices in hotels. Due to this reason, the majority of guests consider Wi-Fi amenity as a part of their decision-making process while confirming bookings.
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