Intent-based Networking Market Size worth over $4bn by 2026
Published Date: May 4, 2020 Authors: Preeti Wadhwani, Sachin Kasnale
Intent-based Networking Market size is set to surpass USD 4 billion by 2026, according to a new research report by Global Market Insights, Inc.
Intent-based networking technology automates different networking functions as per business objectives and goals. It is like Software-Defined Networking (SDN) as both rely on a centralized controller to manage heterogeneous distributed network devices. SDN technology acts as a building block for intent-based networking; however, both the approaches differ in terms of how they are addressed at the administrator level.
The COVID -19 outbreak supports the demand for intent-based networking solutions across enterprises
The intent-based networking market growth is attributed to growing demand for enterprises to implement network policies as per their business goals. The IBN technology helps in automatic configuring of network components with little human intervention as per business demands. Enterprises are looking for solutions that can reduce network delivery and downtime to improve their operational efficiency. It is also helping these enterprises in reducing downtime by rapidly enforcing network policies in case of any failure. The rising demand for SDN and NFV technologies is also supporting the market demand.
The outbreak of COVID-19 has resulted in the growing adoption of the BOYD trend across enterprises. The BOYD trend enables the need for data-intensive applications. With increasing data consumption and rising stress on broadband networks, the adoption of intent-based networks will enable service providers to handle fluctuating web traffic loads and enterprise connectivity requirements, influencing the market revenue.
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Growing modernization of wireless network infrastructure to support the market demand for IBN components
The hardware network component segment is expected to witness over 30% growth during the forecast period propelled by growing need to configure network components, such as routers, switches, and firewalls, according to enterprises’ business objectives. Intent-based networking helps in configuring hardware network components in alignment with the business goals. It adds more abstraction and automation of manual processes by configuring hardware networking components automatically. The growing adoption of wireless networking devices will boost the market size.
Browse key industry insights spread across 264 pages with 343 market data tables and 27 figures & charts from the report, “Intent-based Networking Market Size By Component (Software, Networking Hardware [Routers, Switches, Firewall], Service [Professional Services, Managed Services]), By Deployment Model (On-Premise, Cloud), By Application (BFSI, Healthcare, Defense, IT & Telecom, Manufacturing), Industry Analysis Report, Regional Outlook” in detail along with the table of contents:
Evolving cloud computing landscape to drive the adoption of cloud-based solutions
The cloud deployment model is predicted to expand at around 30% CAGR till 2026. The adoption of cloud computing across enterprises is fueling the market demand for cloud-based IBN solutions. Cloud-based network infrastructure enables enterprises to obtain benefits of on-premise architecture, including real-time traffic shaping, load balancing, and increased reliability & performance of cloud applications. Enterprises are deploying public cloud models to make resources, such as virtual machines and applications, available to customers over the internet. Major companies operating in the market are introducing cloud-based intent-based solutions to support changing customer demands.
The IT & telecom industry dominated the intent-based networking market revenue share in 2019
The IT& telecom sector held a market share of over 30% in 2019 owing to rising demand for high-performance applications. IT enterprises require an agile network infrastructure to manage high-performance applications. The traditional network infrastructure lacks an automation platform that will increase the Total Cost of Ownership (TOC) spent on manually managing the network. IBN technology helps enterprises to manage these applications with little manual intervention. The reduced time and effort required to maintain the network will translate into more time for network innovations, providing real value to the business. The improved network automation results in faster threat detection, containment, continuous compliance, and reduced downtime caused by human error.
Growing broadband penetration in the Asia Pacific region to fuel market growth
The Asia Pacific intent-based networking market size is anticipated to grow at a CAGR of over 25% from 2020 to 2026 impelled by growing digitalization in the region. Enterprises in the region are deploying NFV technology for achieving elastic scaling of capacity and rapid & flexible deploying applications & services. The integration of NFV technology makes the network infrastructure complex. The intent-based technology helps in reducing complexities in network infrastructure by modifying, routing, and configuring virtual services on demand.
Advancements in telecom infrastructure have resulted in the growing demand for intent-based networking technology to manage network components, according to changing business demands. The growing investments in IT & telecom infrastructure in developing countries including India, China, and Japan will fuel market growth. The Chinese government is investing in IT infrastructure to accelerate digitalization in the country.
Innovative product development is a key market strategy for major industry players
Industry players are introducing new technology products to gain a competitive advantage over their market competitors. For instance, in January 2018, Apstra launched the AOS 2.1 version with advanced Intent-Based Analytics (IBA) that embeds automated big data analytics and assists companies in upgrading their network infrastructures. It simplifies network operations & improves CAPE, OPEX, and the capacity of the network infrastructure.
Some of the key companies operating in the market include A10 Networks, Inc., Altran, Anuta Networks, Apstra, Inc., Avi Networks, Cerium Networks, Cisco Systems, Inc., Fortinet, Inc., Forward Networks, Inc., Huawei Technologies Co., Ltd., Indeni Ltd., Intentionet, Juniper Networks, Inc., Veriflow Systems, Pluribus Networks, and The Mode Group.