According to a new report, published by KBV research, The Global Intent-based Networking (IBN) Market size is expected to reach $2.9 billion by 2028, rising at a market growth of 23.2% CAGR during the forecast period.
The Services segment is showcasing a CAGR of 24.3% during (2022 - 2028). The industry's growing demand for consulting, integration, training, and maintenance services are expected to support the expansion of the service segment. Enterprises can measure the security and agility benefits of IBN services. With time more companies will use IBN services to boost network capabilities and concentrate on their core skills, which will drive the growth of the segment.
The Cloud segment is leading the Global Intent-based Networking (IBN) Market by Deployment Type in 2021 thereby, achieving a market value of $1.8 billion by 2028. The transition of remote resources from manual or conventional to automated network procedures involves the cloud significantly. With cloud deployment, IBN tool instances run in dedicated, high-availability environments. IBN solution vendors who use the cloud also handle service management. Cloud network automation offers quick and safe network configuration using cloud computing capabilities.
The SMEs segment has shown the growth rate of 25.2% during (2022 - 2028). The increased use of cloud computing has prompted SMEs to adopt IBN technology. Due to financial limitations, SMEs typically favor cloud-based solutions on the market. Many firms have gradually begun to employ cutting-edge technology items that improve their business functions while using fewer resources. Network automation for SMEs can assure cost savings on network infrastructure and reduce the time needed to troubleshoot network issues.
The Telecom & IT segment acquired maximum revenue share in the Global Intent-based Networking (IBN) Market by Vertical in 2021 thereby, achieving a market value of $1.2 billion by 2028. Storage, compute, and network devices are widely used in data centers. The configuration and maintenance of such multi-vendor devices are therefore challenging for data centers. In addition, the cost of operating IT departments and improving their ability to adapt to shifting business needs has increased due to network scalability. These elements have forced IT departments to spend a lot of money maintaining their network infrastructure, which has fueled the demand for IBN solutions.
The North America market dominated the Global Intent-based Networking (IBN) Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1 billion by 2028. The Europe market is exhibiting a CAGR of 22.4% during (2022 - 2028). Additionally, The Asia Pacific market would display a CAGR of 24.3% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/intent-based-networking-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Cisco Systems, Inc., Juniper Networks, Inc., IBM Corporation, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Hewlett-Packard enterprise Company (HP Development Company L.P.), Nokia Corporation, Wipro Limited, Gluware, Inc., Forward Networks, Inc. and NetBrain Technologies, Inc.
By Component
By Deployment Type
By Organization Size
By Vertical
By Geography
Companies Profiled
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