The global Intent-based Networking (IBN) market size is forecasted to grow from USD 0.8 billion in 2022 to USD 2.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 25.9%
The global Intent-based Networking (IBN) market sizei s forecasted to grow from USD 0.8 billion in 2022 to USD 2.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 25.9% during the forecast period.
New York, March 13, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Intent-based Networking Market by Component, Deployment Type, Vertical, Organization Size, & Region - Global Forecast to 2027" - https://www.reportlinker.com/p06428931/?utm_source=GNW
Major factors expected to drive the growth of the intent-based networking market include surge in human error rates in manual systems causing network downtime, rising implementation of software-defined networking, and growing need for efficient connectivity network to handle increasing traffic. However, lack of awareness among network administrators and availability of open-source automation tools are factors that hinder the growth of the intent-based networking market.
Based on deployment type, the cloud segment to hold a larger market size during the forecast period
Based on deployment type, the intent-based networking market is divided into the cloud and on-premise.The cloud segment is estimated to lead the market during the forecast period.
The growing demand for investing in cloud across various developed economies, such as the US, China, the UK, Australia, and Canada is anticipated to drive the demand for cloud deployment type in the intent-based networking the market. North America is the largest investor of cloud services allowing organizations to adopt the cloud deployment type in the North American companies.
Based on vertical, the IT and telecom segment to lead the market during the forecast period
Based on vertical, the intent-based networking market is segmented into IT & telecom, BFSI, healthcare, manufacturing, retail & consumer goods, and other verticals (hospitality, energy & utilities, education, transportation & logistics, and government).Among these verticals, the IT and telecom segment is estimated to lead the market during the forecast period.
An intent-based IT environment can also include the automation of day-to-day tasks, for example, provisioning virtual machines or distributing workloads in real-time.The configuration and management of large networks and data centers have become more complex in recent years.
Data centers have numerous compute, storage, and network devices.As a result, data centers face complexities in the configuration and management of these multi-vendor devices.
As workers and consumers shifted their labor, recreation, communications, and shopping patterns to persistent routines, the resulting stress on the telecommunications network was profound, thus driving the demand for IBN in the IT & telecom vertical.
Among regions, Asia Pacific to grow at the highest CAGR during the forecast period
The Asia Pacific (APAC) intent-based networking market is expected to record the highest growth rate during the forecast period, owing to the significant adoption of advanced technologies, proliferation of connected devices, continuous enhancement of network connectivity, and government initiatives for networking technologies.Asia Pacific is one of the biggest markets for connected devices.
The presence of IBN vendors, such as Huawei and Wipro, in Asia Pacific is one of the factors driving the growth of the intent-based networking market in the region.
The breakup of the profiles of the primary participants is given below:
• By Company Type: Tier 1 – 33%, Tier 2 – 8%, and Tier 3 – 59%
• By Designation: C-Level – 33%, Directors – 25%, and Others* – 42%
• By Region: North America – 50%, Europe – 25%, APAC – 17%, and RoW** – 8%
*Others include sales managers, marketing managers, product managers, consultants, specialists, and subject matter experts.
**RoW includes countries present in MEA and Latin America
Note: Tier 1 companies have revenues more than USD 1 billion, Tier 2 companies range in between USD 500 million to USD 1 billion of overall revenues, and Tier 3 companies range between USD 100 million to USD 500 million of overall revenues
The following key intent-based networking vendors are profiled in the report:
• Cisco (US)
• Juniper Networks (US)
• IBM (US)
• Huawei (China)
• HPE (US)
• Nokia (Finland)
• Wipro (India)
• Gluware (US)
• Forward Networks (US)
• NetBrain Technologies (US)
• Frinx (Slovakia)
• Indeni (US)
The intent-based networking market is segmented by component (solution and services), organization size, deployment type, vertical, and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overview; key strategies; new product launches and product enhancements; partnerships, agreements, and collaborations; business expansions; acquisitions; and competitive landscape associated with the intent-based networking market.
Reasons to Buy the Report
The report would help the market leaders and new entrants in the following ways:
• It comprehensively segments the intent-based networking market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different regions.
• It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities.
• It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes rankings of key market players and competitive leadership mapping of market players.
Read the full report: https://www.reportlinker.com/p06428931/?utm_source=GNW
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