March 03, 2020
According to the research report titled ‘Asia Pacific Enterprise Networking Market Size By Application, Component Deployment Model, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 - 2024’ available with Market Study Report LLC, Asia Pacific enterprise networking market is expected to cross USD 20 billion by the year 2024.
As per the report, Asia Pacific enterprise networking market is expected to witness forward integration owing to increasing popularity of smart cities across the region. The governments of several developing economies, such as India and China are encouraging the development of smart cities by outlaying a slew of investments. Rising number of smart and connected devices has compelled the businesses to deploy endpoint security solutions for protecting their corporate network from cyberthreats. This factor in tandem with advancing virtualization of data centers will considerably push the growth of Asia Pacific enterprise networking industry size.
The cloud-based deployment model is anticipated to register 13% CAGR over 2018-2024. The segment growth can be attributed to increasing adoption of cloud services across businesses. Better storage and scalability of cloud deployment model facilitate companies to incorporate cloud-based network infrastructure. This model is cost-effective on account of its ‘pay-as-you-use’ model, which will significantly proliferate Asia Pacific enterprise networking market demand.
Regionally, Japan is expected to be at the forefront of Asia Pacific enterprise networking industry owing to the rising demand for securing enterprise networks from amplifying cyberattacks in the nation. For example, in 2017, as per Japanese Police, almost 6,027 cases were recorded for spear-phishing e-mail attacks in the nation. Government authorities are outlaying massive investments to protect infrastructure and install the latest firewall appliances. Upcoming 2020 Summer Olympics will uphold economic growth and generate new growth opportunities for Japan enterprise networking market.
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Several Asia Pacific enterprise networking market companies are prioritizing strategic partnerships to expand their cybersecurity portfolio. Citing an instance, in January 2018, Vivotek and Trend Micro entered into a strategic collaboration to provide cyber-defense solutions to customers. The partnership facilitates customers with higher levels of network security by incorporating Vivotek’s network cameras and reinforces defenses to cope with evolving security challenges of the Internet of Things (IoT).
Some of the key Asia Pacific enterprise networking industry players include F5 Networks, Cisco, Broadcom, Dell Technologies, FireEye, Checkpoint, Juniper, HPE, Arista, VMWare, McAfee, Extreme Networks, Palo Alto, Riverbed, Symantec, Huawei, Netscout, Trend Micro, and Fortinet.
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