26.10.2021 Бизнес

APAC Networking Equipment Market - Pre & Post COVID-19 Impact Analysis, Key Players and Growth Analysis

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.
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.

Several government schemes and services, such as PAN card and voters’ ID card applications and train reservations can be availed of online. 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.

Further, with the growing digitization rate, booming smartphone and internet penetration, and rising disposable income, the amount of data being generated, consumed, and transmitted is exploding. This is leading to the construction of data centers, where advanced networking equipment is paramount. As a result, category 6 structured cabling is growing in demand as it supports high bandwidths and data transfer rates and reduces alien crosstalk and signal attenuation. In this regard, the booming popularity of over-the-top (OTT) media content is propelling the installation of networking equipment by leading to the construction of data centers.

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