Chicago, March 21, 2023 (GLOBE NEWSWIRE) -- The Global Intent-based Networking (IBN) Market size is projected 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, according to a new report by MarketsandMarkets™.
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Scope of the Report:
| Report Metrics | Details |
| Market size available for years | 2017–2027 |
| Market Size Value in 2022 | $0.8 billion |
| Revenue Forecast Size Value in 2027 | $2.6 billion |
| Growth Rate | 25.9% |
| Base year considered | 2021 |
| Forecast period | 2022–2027 |
| Forecast units | Value (USD) |
| Segments covered | Component (Solution and Services), Deployment type (Cloud and On-premises), Organization Size (Small and Medium-sized Enterprises [SMEs] and Large Enterprises), Vertical (IT & Telecom, BFSI, Healthcare, Manufacturing, Retail & Consumer Goods, and Other Verticals), and Region |
| Geographies covered | North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America |
| Companies covered | 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), and Indeni (US) |
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The investments in R&D and emerging automation solutions is a factor expected to offer new revenue opportunities in the intent-based networking market. Networking companies are heavily investing in the R&D of networking solutions, with a focus on long-term value creation. Based on the fluctuations in short-term business performance and financial results, leading networking companies have not reduced their investment in the innovation and testing of network automation solutions. For instance, networking companies, such as Forward Networks, have come up with intent-based networking solutions. Intent-based networking takes business policy as its input, converts the requirement to a network configuration, and generates network designs. Networking companies are also producing “Ethernet fabrics.” Ethernet fabric is a network topology that enhances the performance, utilization, availability, and simplicity required to meet the networking requirement of modern virtual data centers. These continuous investments and positive outcomes are expected to further fuel the growth of the intent-based networking market.
Among offerings, the service segment is expected to grow at a higher growth rate during the forecast period. This growth is attributed to the growing need to maintain operational efficiency of the networking infrastructure. With the rising adoption of intent-based networking solutions, the demand for adequate services is on the rise. The benefits of employing services are improved network performance and reduced IT-related operating expenses resulting from the implementation of efficient networking platform.
By deployment type, the cloud segment is expected to witness the highest growth rate during the forecast period. This growth is attributed to the major benefits, such as network scalability, data accessibility, and cost savings are offered by cloud deployment mode in the market. Cloud plays a significant role in the transformation of remote assets from manual to automated network processes. Cloud-based IBN solution providers also take the responsibility of managing the service.
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Among organization sizes, the Small and Medium-sized Enterprises (SMEs) segment is expected to witness a higher growth rate during the forecast period. The growth of the services segment is attributed to the growing need for cost-effective networking automation solutions. intent-based networking vendors are offering tailor-made solutions to cater to the diverse range of SMEs. With the growing prominence of the cloud and disruptive technologies, SMEs are considering adopting IBN solutions and services, as they can prove to be cost-effective in improving their business operations. The increased use of advanced IT infrastructure has encouraged the adoption of IBN solutions and services across various industries.
In terms of geographic coverage, the intent-based networking market has been segmented into five regions: North America, Asia Pacific (APAC), Europe, Latin America, and Middle East and Africa (MEA). APAC is expected to record the highest growth rate during the forecast period, owing to the rapid development of government initiatives toward improving network security, technology, start-ups, and resource optimization in the region. The demand for bringing intelligent connectivity for businesses and accelerating the industrial transition through digital transformation are driving the adoption of intent-based networking solutions across the region.
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