The Asia Pacific Router And Switch Market would witness market growth of 7.6% CAGR during the forecast period (2023-2029).
The demand for quick and dependable network connectivity has grown dramatically due to the growth of cloud computing, the Internet of Things, and other technologies, raising the need for routers and switches. Additionally, increased internet-enabled gadgets in developed and emerging economies have fueled market expansion. As a result, customers can choose from various networking solutions due to the significant presence of well-known technology companies.
The expanding e-commerce sector drives the demand for routers and switches as online businesses want to enhance their network connectivity and infrastructure. Managing and controlling the growing number of connected devices is becoming increasingly important, which raises the demand for routers and switches with comprehensive network management features. The expansion in connected devices has increased the need for routers and switches with more processing power to handle the network traffic and data transfer. In addition, the demand for routers and switches that can provide reliable connectivity and defend against cyber threats has been sparked by increased security concerns brought on by the proliferation of connected devices.
Due to the increased demand for multi-screen delivery, high-definition content, on-demand viewing, the expanding usage of tablets and smartphones, and the increasing acceptance of cloud applications, the Asia Pacific market is expected to experience development potential in countries like China. The market's main growth factor is the development of carrier Ethernet technology and the steady rise in bandwidth consumption. It's believed that many people's communication options now include mobile phones. Mobile phones are being used extensively in developing countries to conduct commerce, especially in rural regions, conduct personal banking, and in other ways to enhance the quality of life. As a result, these elements are predicted to support regional market growth.
The China market dominated the Asia Pacific Router And Switch Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $6,511.8 million by 2029. The Japan market is experiencing a CAGR of 7% during (2023 - 2029). Additionally, The India market would exhibit a CAGR of 8.3% during (2023 - 2029).
Based on Product, the market is segmented into ATM & Ethernet Switch, Internet Exchange Router, Ethernet Service Edge Router, Multiservice Edge Router and Service Provider Core Router. Based on Service, the market is segmented into Internet Data Center/Collocation/ Hosting, BRAS, Ethernet Aggregation, Ethernet Access and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Router And Switch Market is Projected to reach USD 75.1 Billion by 2029, at a CAGR of 7.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., Telefonaktiebolaget LM Ericsson, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Fortinet, Inc., Ribbon Communications, Inc., Extreme Networks, Inc., Dell Technologies, Inc., ADTRAN, Inc., Actelis Networks, Inc. and ALE International S.A.S.
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