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Intent-based Networking Market to cross $20 Bn by 2032
- Published Date: November 18, 2022
Intent-based Networking Market size is set to exceed USD 20 billion by 2032, according to the latest research report by Global Market Insights Inc.
Intent-based networking solutions are anticipated to become more popular across all industries as they ease the burden of creating and managing network regulations. IBN makes it possible to manage networking equipment and run routine network inspections to make sure everything is operating properly. Thus, businesses are adopting these solutions as they provide a comprehensive approach to network management, which is playing a vital role in the industry growth.
Increased network reliability to boost networking hardware segment revenues
The networking hardware segment held over 25% of the intent-based networking market in 2022 and is estimated to develop significantly between 2023 and 2032 due to its characteristics that give network administrators complete visibility of the network condition in order to increase network reliability and performance. Additionally, it helps businesses cut back on expenses and labor involved in manually configuring these components, which is likely to boost industry adoption.
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Rising demand for next-generation data centers to promote the use of switches
The switches component type is projected to register USD 3 billion revenues by 2032 owing to the growing demand for next-generation data centers, which is encouraging the use of advanced switches. Furthermore, intent-based networking software companies are employing network automation as a tool to help businesses manage their networking policies, which is speculated to push the business uptake.
Growing usage of cloud computing to increase cloud-based IBN solutions acceptance
The cloud deployment model in IBN market scenario will witness steady growth by 2032. Enterprises can customize systems and applications using IBN solutions to their own requirements. Furthermore, the cloud-based IBN solutions industry expansion is being stimulated by the widespread espousal of cloud computing in different sectors.
Browse key industry insights spread across 280 pages with 401 market data tables and 32 figures & charts from the report, “Intent-based Networking (IBN) Market Size, By Component (Software, Networking Hardware [Routers, Switches, Firewall], Service [Professional Services, Managed Services]), By Deployment Model (On-Premises, Cloud), By Application (BFSI, Healthcare, Government & Defense, IT & Telecom, Manufacturing), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
Penetration of machinery automation to increase product usage for manufacturing industry
The manufacturing application industry is slated to attain nearly 30% gains from 2023 to 2032 fueled by the burgeoning use of machinery automation and smart industrial technology. The methods used by companies to approach automation are becoming more advanced. Enterprises involved in manufacturing highly rely on IBN technology to effectively manage a range of IoT and connected devices with less manual labor, thereby fostering business outlook.
Industrial digital revolution in North America
The North America IBN market accounted for 50% global industry in 2022. The digital revolution, which has accelerated the necessity of wireless network devices in all verticals, is the primary factor facilitating the sector growth. The mounting emphasis on integrating cutting-edge technologies like cloud and AI with the expanding network infrastructure to automate various network activities is forecasted to augment the regional share through 2032.
Product innovations to define the competitive landscape
The intent-based networking market consists of Huawei Technologies Co., Ltd., Capgemini Group (Altran), Cisco Systems, Inc., Fortinet, Inc., Gluware, Inc., Indeni Ltd., Juniper Networks, Inc., Wipro Limited, and others. Manufacturers are focusing on the development of novel manufacturing technologies, the introduction of new products, and the execution of development plans through partnerships to maintain their business position.
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