Intent-Based Networking Market Analysis
The global Intent-Based Networking Market will touch USD 8.4 billion at a 21.12% CAGR by 2032, as per the recent Market Research Future report.
Market Drivers
Increasing Adoption in Healthcare to Boost Market Growth
The increasing adoption of intent-based networking in the healthcare sector will boost market growth in the forecast period. IBN plays an imperative role in the technological overhauling of healthcare be it introducing unthinkable competence & productivity, advancing procedures, or integrating digital technology. This eventually leads to patients attaining better services as the staff hands in fact are discharged for a higher administrative intensive work instead of human facing component of it. Hence, this makes the patient handling process more worthwhile and productive.
Market Opportunities
Technological Advances to offer Robust Opportunities
The advent of ML algorithms that can offer network automation will boost market growth in the forecast period. The integration of ML, cognitive computing, and automation and offering improved speed and automation bode well for the market growth. Technological advances have indeed emerged as a chief trend gaining recognition in IBN market. Leading names in the industry are creating innovative technologies for strengthening their position within the market.
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Market Restraints and Challenges
High Initial Investment to act as Market Restraint
The high initial investment, lack of knowledge amid vendors, complexity of deployment & integration, and lack of standardization may act as market restraints over the forecast period.
Besides, the COVID-19 impact may also impede market growth.
Key Players
Eminent industry players profiled in the global intent-based networking market report include
· Cisco Systems Inc. (US),
· Apstra Inc. (US),
· Veriflow Systems (US),
· Huawei Technologies Co. Ltd. (China),
· Juniper Networks Inc. (US),
· Cerium Networks (US),
· Pluribus Networks (US),
· Forward Networks Inc. (US),
· Anuta Networks (US),
· Indeni Ltd. (US),
Market Segmentation
The global intent-based networking market is bifurcated based on component type, deployment model, application, and vertical.
By component type, service will lead the market over the forecast period.
By deployment model, on-premise will domineer the market over the forecast period.
By application, BFSI will spearhead the market over the forecast period.
By vertical, healthcare will spur the market over the forecast period.
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Regional Analysis
North America to Spearhead Intent-Based Networking Market
North America will spearhead the market over the forecast period chiefly for the increased investments in various advanced technologies like intent-based networking solutions and cloud-based services to improve customer experience and businesses. Besides, factors such as the increasing use of intent, presence of several key players, well-established networking infrastructure, and expanding digital technologies are also favoring market growth here. Further, the early adoption of various trending technologies like 5G, AI, cloud, and IoT, the organizations in North America are keen in integrating networking technologies along with their data centre processes. The US grabbed the utmost market share followed by Canada.
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