Asia Pacific Enterprise Networking Market to Extend at $20bn Valuation by 2024

Graphical Research has reported the addition of the “Enterprise Networking Market: Asia Pacific Industry Analysis and Opportunity Assessment 2019 - 2024" report to their offering.

India - August 19, 2019 /MarketersMedia/ —

The increasing adoption of IoT devices due to the rising popularity of smart cities across the region is fueling market growth. The governments in developing countries including India and China are supporting the adoption of smart cities through investments. The rise in the number of smart and connected devices is enabling enterprises to deploy endpoint security solutions to secure their corporate network from cyberthreats. The growing virtualization of data centers is another factor contributing significantly to the market growth.

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According to the Graphical Research new growth forecast report titled Asia Pacific Enterprise Networking Market By Application (BFSI, Healthcare, IT & Telecom, Manufacturing, Retail, Government & Public Sector, Energy & Utility), By Component (Product [Switches, Network Security {Firewall, Intrusion Prevention, Anti-virus/Anti-malware, Secure Web Gateway (SWG), Mobile Device Security}, Wireless, Routers, Network Management], Service [Training & Consulting, Integration & Maintenance, Managed Service]), By Deployment Model (On-premise, Cloud), Industry Analysis Report, Regional Outlook (China, Japan, Australia & New Zealand (ANZ), South Korea, India, Singapore)”, to mark valuation of USD 20 billion by 2024.

The network management segment is expected to grow at a CAGR of over 10% during the forecast period due to the increase in complexity in network and the demand for bandwidth-intensive applications. Changing business requirements are enabling enterprises to deploy network management solutions to simplify network monitoring and configuration management to support network uptime. Network management solutions aid in the optimization and automation of enterprises’ switching, routing, and security devices.

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The cloud-based deployment model is expected to hold a CAGR over 13% during the forecast period due to the rise in the adoption of cloud services across enterprises. The improved storage and scalability of the cloud deployment model are enabling enterprises to adopt cloud-based network infrastructure. The cost-effectiveness of the cloud-based deployment model due to its ‘pay-as-you-use’ model is also fueling market growth.

The IT & telecom segment held the market share of over 30% in 2017 due to the rise in the demand for protecting the complex network infrastructure. The increase in high bandwidth applications is enabling enterprises to deploy advanced enterprise networking solutions to resolve bandwidth shortage issues. The rise in smartphone penetration is enabling telecom companies to deploy cloud-enabled network virtualization solutions.

Japan is expected to hold a market share of over 20% by 2024 due to the increase in the demand for protecting enterprise network from rising cyberattacks in the country. For instance, in 2017, according to the Japanese police, 6,027 cases were registered for spear-phishing e-mail attacks in the country. Government authorities are investing in the protection of the infrastructure and installing new firewall appliances as 2020 Summer Olympics will hold opportunities for new technologies, driving economic growth.

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The companies operating in the Asia Pacific enterprise networking market are forming strategic partnerships to strengthen their cybersecurity portfolio. For instance, in January 2018, Trend Micro and VIVOTEK entered into a strategic partnership to offer cyber-defense solutions to users. This partnership enables users to enjoy higher levels of network security when deploying Vivotek's network cameras and strengthen defenses in response to the emerging security challenges of the Internet of things (IoT).

Major players operating in the market are Cisco, F5 Networks, Broadcom, FireEye, Dell Technologies, Checkpoint, HPE, Juniper, Arista, Extreme Networks, McAfee, Palo Alto, Symantec, Riverbed, Huawei, Trend Micro, Netscout, Fortinet, and VMWare.

Asia Pacific Enterprise Networking Market Size, By Component

By Product
Switches
Network Security
Firewall
Intrusion prevention
Anti-virus/Anti-malware
Secure Web Gateway (SWG)
Mobile Device Security
Wireless
Routers
Network management
By Service
Training & Consulting
Integration & Maintenance
Managed Service

Asia Pacific Enterprise Networking Market Share, By Deployment Model

On-Premise
Cloud

Asia Pacific Enterprise Networking Market Value, By Application
BFSI
Healthcare
IT & Telecom
Manufacturing
Retail
Government & Public Sector
Energy & Utility

Browse key industry insights from this Report @ https://www.graphicalresearch.com/industry-insights/1235/asia-pacific-enterprise-networking-market

Related Reports:

North America Enterprise Networking Market : https://www.graphicalresearch.com/industry-insights/1237/north-america-enterprise-networking-market

Europe Enterprise Networking Market : https://www.graphicalresearch.com/industry-insights/1236/europe-enterprise-networking-market

About Graphical Research:

Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

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Website: https://www.graphicalresearch.com/industry-insights/1235/asia-pacific-enterprise-networking-market

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Release ID: 88909053