Intent-Based Networking Market Size - Emerging Opportunities, Competitive Landscape and Trends by Forecast 2023
On a global scale, the intent-based networking (IBN) market had reached a valuation of USD 634.5 million in 2017 and its worth can be USD 4,908.5 million by 2023, reveals Market Research Future (MRFR). MRFR also says that the market has the potential to accrue a remarkable growth rate of 42% during the forecast period (2017-2023).
Market Boosters and Top Barriers
Intent-based networking (IBN) can be described as an intelligent network that is used to automate enterprise networking tasks with the use of artificial intelligence (AI) or machine learning (ML) as well as network orchestration within the IT industry. IBN is hailed as a sophisticated version of the traditional form of networking. IBN is an advanced approach to networking, in which software along with dedicated APIs help in planning, designing and configuring needed changes to the existing network and also enhance the network’s availability as well as agility.
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IBN systems are generally available as software products or software as a service (SaaS). Internet-dependent networking architecture consists of APIs, software networking hardware deployed on premise and on cloud. Its operation flow comprises the enterprise’s intent transmission along with networking hardware like series of commands, dedicated IBN APIs and router and switches.
The global IBN system market can have a significant growth in the coming years since there is a high chance that IT personnel can commit errors when they are identifying changes to the enterprise network. This can lead to network downtime and have a detrimental effect on organizational productivity. This situation calls for the use of IBN across these enterprises all over the world and can do wonders for the global market during the conjectured timeframe.
The market for intent-based networking has been segmented with respect to application, component and end-user.
Considering the application segment, the market can be split into remote offices, cloud and data center.
Given the component segment, the market includes software, hardware and services
Depending on the end-user, the market segments are IT and telecommunication, BFSI, defense, government, healthcare, and others.
The geographical categorization of the Intent-Based Networking Market Size consists of North America, Asia Pacific (APAC), Europe, in addition to the Rest of the World (RoW).
The MRFR report highlights North America as the top market for intent-based networking. The market is performing extremely well since the region is occupied by a large number of esteemed players. The United States (US) is the leading market for intent-based networking in the region, as the country is inundated with highly regarded vendors like Veriflow Systems, Cisco, and Apstra Inc. that constantly adopt marketing hacks like product innovations to stay ahead of the competition. An additional factor that induces market growth in the region is the rigorous efforts being put in research and development (R&D) to improve the quality of their IBN technology. To illustrate, in 2018, Apstra Inc had developed AOS 2.2, which is used by enterprises to elevate the network capabilities and also to conduct advanced analytics.
Europe can note strong growth in the global intent-based networking market in the years ahead, on account of the high concentration of important industries like It and telecom industry, BFSI, and others. Also, the government in the region does everything in its capacity to boost the use of IBN, with the aim of reducing the glitches.
APAC has the potential to achieve the fastest growth rate from 2017 to 2023, owing to the surging investments being made by renowned vendors. Besides, the rising number of IoT devices due to the surging need for reliable network connectivity is favoring the regional market. Huawei Technologies Co., Ltd has been identified as one of the top-performing players responsible for more than half of the market growth in the region.
Some of the top players shaping the worldwide market for intent-based networking (IBN) include Juniper Networks Inc (US), Huawei Technologies Co Ltd (China), Cerium Networks (US), Cisco Systems Inc. (US), Indeni Ltd (US) Veriflow Systems (US), Anuta Networks (US), Apstra Inc. (US), Pluribus Networks (US), Forward Networks, Inc (US), to mention a few.
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