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APAC Networking Equipment Market Size, Status, Top Players, Trends in Upcoming Years

11-29-2021 06:10 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: P&S Intelligence

APAC Networking Equipment Market Size, Status, Top Players,

With the booming pace of internet coverage expansion, P&S Intelligence expects the Asia-Pacific (APAC) networking equipment market value to increase from $22,875.2 million in 2018 to $42,753.4 million by 2024, at an 11.3% CAGR between 2019 and 2024. This is because just like electricity, the transmission of data requires several pieces of equipment, including switches, routers, security devices, cables, range extenders, boosters, modems, storage devices, repeaters, access points, bridges, antennae, network interface cards (NICs)/adapters, amplifiers, and hubs.

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Around the world, China and India are home to the highest number of internet users as they are home to the most people on earth. The increasing disposable income and decreasing internet connection and data rates have allowed people to have the internet at home. Moreover, the region is home to one of the largest corporate sectors around the globe. Since this sector almost exclusively depends on the internet, there are few offices in the region that do not have internet connectivity at all.

Similarly, the trend of online shopping is growing owing to the convenience offered on such platforms, such as home delivery, product comparison, electronic payment, and offers and discounts. Moreover, presently, much of the regional population is working from home due to the pandemic, which has driven the installation of broadband and Wi-Fi connections at homes, in turn, aiding the APAC networking equipment market advance.

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China is the largest contributor to the APAC networking equipment market because it is the most-populated country in the world and also the one with the largest number of people with internet access. Moreover, the Made in China 2025 initiative has given advanced technologies, such as artificial intelligence, machine learning, and the internet of things, a key role in the transformation of the country’s manufacturing sector. Since high-speed internet connectivity is essential for such technologies, the demand for networking equipment is growing here.

Therefore, as the internet penetration increases and focus on advanced technology grows, so will the demand for various pieces of networking equipment in APAC.

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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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