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(IT-NEWSWIRE.COM, March 08, 2023 ) According to a new report by MarketsandMarkets™, the global Intent-based Networking 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.
Major factors expected to drive the growth of the intent-based networking market include the surge in human error rates in manual systems causing network downtime, growing number of devices on network, and need of automation in network architecture.
Browse in-depth TOC on "Intent-based Networking (IBN) Market”
220 - Tables
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Based on offering, the solution segment to hold a higher market share during the forecast period
The intent-based networking market is a solution-driven market. IBN solution plays an integral role in reducing the complexity of networks, as they enable enterprises to leverage the Graphical User Interface (GUI) for automating and enhancing the network configuration process. The reasons powering IBN automation forward are the intense desire to create an innovative and highly personalized customer experience and redesigning business models by leveraging advanced algorithms, GUI, and network visibility to enhance the efficiency of networks. An effective IBN solution must be multi-level, which should allow everything from virtual machines to management of systems to network discovery as required by an enterprise.
Based on organization size, the large enterprises segment to hold a higher market share during the forecast period
Large enterprises possess strong budget capabilities and are significantly investing in the adoption of the intent-based networking and associated services to manage their subscription base efficiently. The growth of the large enterprises segment is mainly governed by the increasing number of smart devices across large enterprises. Large enterprises are adopting IBN solutions and services to integrate and manage these large device numbers. IBN solutions and services ensure various business benefits, such as network operational efficiency, cost efficiency, and automated network management.
Based on vertical, the healthcare segment to grow at the highest growth rate during the forecast period
IBN has played a major part in the technological revamping of healthcare, whether it is integrating digital technology, advancing procedures, or introducing otherwise unthinkable competence and productivity. Eventually, this results in the patients receiving better services as staff hands are discharged from more administrative intensive work rather than the human-facing element of it. Thus, making patients handling procedures more productive and worthwhile. This can take various forms, such as improving patient satisfaction, improving medical practices, and integrating technology by propagating the healthcare system further into the future.
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Based on regions, North America to hold the largest market size during the forecast period
North America is estimated to hold the highest share of the intent-based networking market in 2022, as it is likely to benefit from its technological advancements and its position as a developed region. The proliferation of connected devices, significant R&D investments in network infrastructure, and the presence of key market players such as IBM, Juniper Networks, HPE, and Cisco are some of the major factors driving the adoption of intent-based networking in North America. Due to the early adoption of trending technologies, such as IoT, cloud, AI, and 5G, North American organizations are keen to integrate networking technologies with their data center processes.
Key Market Players in the United States
Key and emerging market players in the US intent-based networking market include 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). These players have adopted various business growth strategies to grow in the global intent-based networking market.
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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
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