Intent-Based Networking Market Size, Share, Growth, and Industry Analysis, By Type (Networking Hardware Components, Software, Service and others), By Application (IT and Telecom, BFSI, Healthcare, Manufacturing, Government and Defence and Others) Regional Forecast To 2031

Updated On: 08 April 2024

Intent-Based Networking Market REPORT OVERVIEW

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The Intent-Based Networking market size was USD 6.0084 billion in 2021.As per our research, the market is expected to reach USD 9.311 billion in 2031, exhibiting a CAGR of 31.22% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with Intent-Based Networking market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

An emerging technology idea called intent-based networking (IBN) intends to apply a higher level of intelligence and intended state to replace manual methods for setting up networks and responding to network problems. Instead, using artificial intelligence and machine learning, network administrators declare an outcome or business objective—the intent—and the network's software works out how to accomplish that aim.

For the purpose of validating a given intent, intent-based networking (IBN) systems automate time-consuming procedures, provide real-time visibility into a network's activities, and prescribe the necessary action. They also detect potential intent deviations. The network is made faster and more agile, and errors are decreased because to this increased intelligence.

COVID-19 Impact: low price and constrained mobility Causes Market Distortion

The COVID-19 outbreak caused unstable markets, a drop in consumer confidence, and problems with import and export commerce for producers of services industry. Markets were shuttered as a result of the lockdown, and many people stayed inside. Supply chain breaches, stock market inefficiencies, and vendor instability are results of this evolution. The market as a whole was impacted by the shutdown of the services industry. Because there was no longer a market for the product, Intent-based Networking became obsolete as those markets closed. In order to maintain stability amidst the disruptions, organisations were forced to redesign their entire operational structures as a result of the pandemic. The financial imbalance brought on by the closure of numerous stores and significant sectors was the primary factor that distorted the entire market. In addition, the outbreak has a negative impact on the business operations of the enterprises, which affects the market as a whole. The Intent-based Networking market has been somewhat impacted by this.

LATEST TRENDS

"New product launch and advanced technology to Boost the Market Growth"

Performance problems are discovered right away since an intent-based network constantly monitors itself. These problems are also resolved by the intent-based network, which uses machine learning to select and apply the optimum solution. Another benefit of a network that continuously checks for problems and fixes them is that it adheres to any rules established by the network administrator. Even with encrypted communication, the intent-based network constantly monitors for risks as part of its monitoring process. Security breaches are discovered and contained right away. Network administrators can make better judgments that lead to better business outcomes when they are aware of how a network is operating. An intent-based network continuously collects data about itself that may be examined in a variety of ways to reveal useful network information. Thus, a key trend that is opening up potential for the industry to grow is the development new launches and advanced technology. These new developments are mostly to blame for the market's overall growth.

Intent-Based Networking Market SEGMENTATION

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• By Type

Based on type, the market is classified into Networking Hardware Components, Software, Service and others.

• By Application

Based on application, the market is categorised into IT and Telecom, BFSI, Healthcare, Manufacturing, Government and Defence and Others.

DRIVING FACTORS

"Reduction in Manual Task that Gives the Market Extra boost "

A network that operates on intent converts orders into actions. A network administrator is not required to configure a network in order to adhere to a new policy or organisational requirement. The network is the one that makes the decisions, determining whether a configuration will function, presenting options to the administrator, and implementing changes to conform to the desired configuration. Without assistance from a human, the intent-based network may also deploy and repair itself. As a result, industry growth will be aided during the forecast period by the growing dependence on products. As a result, the growth, and the increasing advance technologies will boost the market. It will contribute to the expansion of the information and communication technology industry and it will improve the overall Intent-based Networking market growth.

"Rapid Implementation of Business Goals into network configuration to Encourage Market Expansion"

An intent-based network and a software-defined network are fundamentally distinct from one another in that the former instantly translates high-level business goals into the best network configurations to meet those goals. A network administrator can save a tonne of time by planning, testing, and manually configuring by swiftly reviewing and selecting from approved configuration alternatives. A significant ROI results from achieving company goals more quickly. As a result, these factors are collectively promoting market expansion, increasing company revenues. As a result, the rapid implementation of business goals into network configuration will help the market to boost.

RESTRAINING FACTORS

"Immature product portfolio leads to fragmented adoption to Impede Market Expansion"

There must be a sizable pool of products available before large businesses begin to adopt intent-based solutions widely. It's challenging for IT professionals to justify purchasing them or creating proofs of concept at this time because many suppliers are still developing their products. But once these issues are fixed, it should be simpler for other businesses to copy. This poses a significant obstacle to market growth during the projection period. This may be a significant issue limiting market expansion. If this problem is fixed, the market will start to grow right away.

Intent-Based Networking Market REGIONAL INSIGHTS

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"United States Dominating the Market Across the Globe"

The Intent-Based Networking market in United States has benefited from the region's expanding industrial development, and various driving factors which has increased the potential sectors as this region is the largest user of the product. The key factor driving the growth of the market share is the growing demand of product in IT and Telecom, BFSI, Healthcare, Manufacturing, Government and Defence industry is one of the major reasons to drive the market. Rapid urbanization developments will further boost the overall market. 

KEY INDUSTRY PLAYERS

"Leading Manufacturers to Boost Product Demand"

The analysis covers data on market participants and their positions within the industry. Through appropriate research, mergers, technological development, expanding production facilities, and collaboration, data is being gathered and made available. Information on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more is provided in the study on materials. 

List of Market Players Profiled

• Intentionet (U.S.)
• Networks Inc (U.S.)
• Juniper Networks Inc (U.S.)
• AnutaNetworks (India)
• Mode Group (Iraq)
• Waltz Networks (U.S.)
• Apstra Inc (U.S.)
• Veriflow Systems Inc (U.S.)
• Huawei Technologies Co. Ltd (China)

REPORT COVERAGE

The study goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including existing and potential market leaders. A considerable market expansion is anticipated as a result of several important factors. In order to provide market insights, the research additionally analyses elements that are probably to boost Intent-based networking market share. The report makes forecasts for market expansion during the projected time period. The objective of the regional study is to explain why one region dominates the worldwide market. There are a lot of issues that have all been carefully considered that prevent the industry from growing. The research also contains a market strategic analysis. It includes thorough market information.