Dublin, March 15, 2023 (GLOBE NEWSWIRE) -- The "Global Intent-based Networking (IBN) Market by Component (Solution, Services (Professional Services and Managed Services)), Deployment Type (Cloud and On-premises), Vertical (IT & Telecom, BFSI, Healthcare), Organization Size, & Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The publisher forecasts the global Intent-based Networking (IBN) market size 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.
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 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)
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.
Market Dynamics
Drivers
- Need for Automation in Network Architecture
- Rising Implementation of Cloud-Based and Software-Defined Networking
- Growing Need for Efficient Connectivity Network to Handle Increasing Traffic
- Growing Number of Devices on Network
- Surge in Human Error Rates in Manual Systems Causing Network Downtime
Restraints
- Lack of Awareness Among Network Administrators
- Availability of Open-Source Automation Tools
Opportunities
- Growing Adoption of Software-Defined Networking
- Transformation Through Ai in Telecom and Businesses
- Rising Investments in R&D and Emerging Automation Solutions
- Increasing Number of Startups Offering Network Automation Solutions
Challenges
- Rising Threats and Vulnerabilities in Networking
- Increasing Complexities in Network Operation
- Rising Security Issues
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 213 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $0.8 Billion |
| Forecasted Market Value (USD) by 2027 | $2.6 Billion |
| Compound Annual Growth Rate | 25.9% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Intent-Based Networking Market, by Component
6.1 Introduction
6.2 Solution
6.3 Services
6.3.2 Professional Services
6.3.3 Managed Services
7 Intent-Based Networking Market, by Deployment Type
7.1 Introduction
7.2 On-Premises
7.3 Cloud
8 Intent-Based Networking Market, by Organization Size
8.1 Introduction
8.2 Large Enterprises
8.3 Small and Medium-Sized Enterprises
9 Intent-Based Networking Market, by Vertical
9.1 Introduction
9.1.1 Vertical: Market Drivers
9.2 IT & Telecom
9.3 Banking, Financial Services, and Insurance
9.3.1 New Generation Networks to Improve Digital Business Resiliency
9.4 Healthcare
9.5 Manufacturing
9.6 Retail & Consumer Goods
10 Intent-Based Networking Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Adjacent/Related Markets
14 Appendix
Companies Mentioned
- Cisco
- Forward Networks
- Frinx
- Gluware
- Hpe
- Huawei
- IBM
- Indeni
- Juniper Networks
- Netbrain Technologies
- Nokia
- Wipro
For more information about this report visit https://www.researchandmarkets.com/r/jojlgz
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