The rise in demand for commercialization of the next-generation 5G technology will positively influence intent-based networking (IBN) market forecast. Given the high data speed of 5G technology, the commercialization will allow the service providers to introduce many customized virtual private networks that are targeted towards certain customers and applications.
Moreover, intent-based networking allows enterprises to gain software that defines control over several aspects of the network including the segmentation, Quality of Service, content filtering, and malware detection. AI-based smart technology allows companies to automate the configuration of these network devices as per the changing objectives of the business.
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The software segment is likely to grow at a CAGR of nearly 25% over 2020-2026. The demand for these software solutions throughout small and mid-sized enterprises has also increased rapidly. The growth is ascribed due to deployment flexibility, control over network infrastructures, and cost benefits. Also, by removing the need for deployment of network components, IBN allows efficient network automation. Additionally, it also gives unified control of components which are linked distinctly, thereby helping enterprises in managing the network resources more efficiently.
In terms of deployment model, the cloud-based segment is likely to grow substantially with a CAGR of about 30% through the analysis period. In order to incorporate with cloud infrastructure components, the corporates are thus adopting cloud-based intent-based networking solutions and services. The hybrid and multi-cloud platforms are integrated with virtualized overlays and APIs, thereby leveraging the IBN to decrease complexity. But, these cloud-based solutions do not work with all public cloud infrastructures, thereby hindering the market demand for cloud-based deployment models.
The adoption of intent-based networking solutions by healthcare institutions is also rising substantially and is further anticipated to grow with a CAGR of about 30% by 2026. These solutions are being adopted by hospitals for network automation and monitoring in order to simplify the tasks which are complex. Citing an example, Felix Platter Hospital, in January 2018, deployed the Intent-Based Networking solution of Cisco System for digital operations throughout its hospital infrastructure in Switzerland. The intent-based networking solution further provided with patient collaboration system capacities, hospital network monitoring, and asset tracking. This further helped the hospital in reducing capital expenditure, and also removing the requirement for network expansion.
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The intent-based networking (IBN) market in North America registered a share of 55% in 2019. The existence of major IBN solution providers in the region will further contribute to industry growth. Companies are expanding their customer base as well as enhancing their offerings. Citing an example, Apstra launched Data Center Automation 3.0 solution in May 2019, mainly for intent-based data center operations. The solution included capabilities like VMWare vSphere connectivity and intent-based analytics. The upgradation of product further helped the company in serving multi-domain customers thus, helping them in lessening OPEX and CAPEX.
All in all, apart from few restraints caused by intent-based networking solution, the afore-mentioned factors are likely to offer a wide range of growth opportunities for intent-based networking (IBN) market players. The competitive spectrum of market includes companies like A10 Networks, Inc., Huawei Technologies Co., Ltd., Juniper Networks, Inc., and Cisco Systems, Inc. among others.
Major Key Points from Table of Content:
Chapter 6 Intent-based Networking (IBN) Market, By Deployment Model
6.1 Key trends, by deployment model
6.2.1 On-premise market size
6.3.1 Cloud market size
Chapter 7 Intent-based Networking (IBN) Market, By Application
7.1 Key trends, by application
7.2 IT & telecom
7.2.1 IT & telecom market size
7.3.1 BFSI market size
7.4.1 Healthcare market size
7.5.1 Manufacturing market size
7.6 Government & defense market size
7.6.1 Government & defense market size
7.7.1 Other sectors market size
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