The APAC networking equipment market is expected to reach $42,753.4 million by 2024, registering a CAGR of 11.3% during the forecast period. The major factors stimulating the market growth include increasing deployment of cloud-based services, shift toward digital transformation, and surge in the adoption of IoT-enabled devices, according to P&S Intelligence.
Insights into the market segments
Based on type, the APAC networking equipment market is categorized into router, switch, security device, modem, cable, storage device, access point, repeater, bridge, NIC, and others including antennas, amplifiers, and hubs. Among these categories, router held the largest market share in 2018. This is attributed to rising bandwidth requirement in the region, increasing deployment of 5G network in countries including China, Japan, and South Korea.
Cable category is further classified into coaxial, twisted pair, fiber optics, crossover, and patch. Of these, twisted pair cable held the largest revenue share in 2018. Moreover, the market for fiber optics cable is projected to register the fastest growth during the forecast period. This is attributed to the increasing internet penetration in the region and the demand for high-speed data transmission, which is enabled by optical fibers. Moreover, with growing medical and healthcare industries in APAC, the deployment of optical fibers is surging, owing to their applications in endoscopy, microscopy, and biomedical research.
Based on end user, the APAC networking equipment market is classified into telecom/ISP, residential, data center, government and transportation, and commercial. Of these, government and transportation segments are expected to hold the largest market share during the forecast period. However, data centers are projected to record significant growth during the forecast period, owing to the increasing digitalization in the region and rise in demand for cloud-based services. The major APAC countries, including Singapore, China, India, Japan, and Indonesia, are exhibiting the demand for data centers to store, manage, and disseminate their data.
Based on country, China networking equipment market is expected to continue holding the largest share throughout the forecast period, by 2024. This is attributed to the increasing IT spending, surging growth of telecommunication sector, advent of cloud computing, and growing information and communication technology (ICT) industry in the country. Moreover, key players in the APAC market have manufacturing sites in China, which offer cheaper and durable networking equipment, further propelling the market growth in the country.
Growing over the top (OTT) industry driving networking equipment market in the region
Growing OTT industry in APAC is aiding to the growth of the networking equipment market in the region. Countries like India and China are posting a strong growth in the OTT industry. For instance, as of 2018, size of the Indian OTT market was nearly $1 billion and is expected to reach a sum of around $5 billion by 2023. Increasing internet penetration and digital transformation further fueling the growth of the OTT market in India. Furthermore, in China, subscription video on demand (SVoD) revenue is expected to reach nearly $15 billion by 2021 from around $4 billion in 2016. Thus, seamless wireless connectivity is an essential requirement to watch videos at anytime and anywhere from any device, and this is further expected to drive the demand for networking equipment in the region during the forecast period.
Browse report overview with 385 tables and 205 figures spread through 443 pages and detailed TOC on "Asia-Pacific (APAC) Networking Equipment Market Research Report: By Type (Router, Switch, Security Device, Modem, Cable, Storage Device, Access Point, Repeater/Booster/Range Extender, Bridge, NIC), End-User (Government and Transportation, Commercial, ISP, Data Center, Residential), Regional Insight (China, Japan, India, South Korea, Australia, Indonesia, Singapore) – Industry Analysis and Growth Forecast to 2024" at:https://www.psmarketresearch.com/market-analysis/apac-networking-equipment-market
APAC Networking Equipment Market Competitive Landscape
With the presence of numerous market players, presently APAC networking equipment market is highly competitive. However, few companies such as Huawei Technologies Co. Ltd. Cisco Systems Inc., and ZTE Corporation held the major share of this market in 2018.
Some of the other key players operating in the APAC networking equipment market include D-Link Corporation, NETGEAR INC., TP-Link Technologies Co. Ltd., CommScope Holding Company Inc., Juniper Networks Inc., IBM Corporation, and Nokia Corporation.
APAC Networking Equipment Market Segmentation
Market Segmentation by Type
Market Segmentation by End User
Market Segmentation by Country