Rising Demand for Connected Workplace Driving Asia-Pacific Networking Equipment Market

In 2018, the Asia-Pacific (APAC) networking equipment market attained a value of $22,875.2 million and is projected to witness a 11.3% CAGR during the forecast period (2019-2024).

The market is growing due to the expanding over the top (OTT) industry, rising cyber security expenditure, increasing data traffic, surging penetration of bring your own device, and rising demand for connected workplace.

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Physical networking devices that are required for interaction and communication between electronic devices over a computer network are referred to as networking equipment.

On the basis of type, the APAC networking equipment market is categorized into switch, modem, storage device, repeater/range extender/booster, NIC/adapter, router, security device, cable, access point, bridge, and others (which include amplifiers, hubs, and antennas).

Out of these, the market was dominated by the router category during the historical period (2014-2018), which is further projected to hold the largest share of the market during the forecast period.

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When end user is taken into consideration, the APAC networking equipment market is divided into commercial, telecom/internet service provider (ISP), residential, data center, and government & transportation.

Among these, the government & transportation division accounted for the major share of the market during the historical period and is expected to retain its position during the forecast period.

One of the major driving factors of the APAC networking equipment market is the rising requirement for connected workplace. A connected workplace decreases communication gap by engaging all the employees of an organization.

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Moreover, businesses are increasingly understanding the need to make use of advanced technologies for enhancing business agility and gain operational efficiencies. Innovative technologies are expected to lend a high degree of sophistication while providing the right information at the right place and at the right time to the employees.

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This release was published on openPR.