Intent-Based Networking (IBN) Market Expected to Reach $9.8 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Intent-Based Networking (IBN) Market," The intent-based networking (IBN) market was valued at $1.1 billion in 2022, and is estimated to reach $9.8 billion by 2032, growing at a CAGR of 24.6% from 2023 to 2032.

As networking gets more complex, over-dependence on manual configuration and management is turning out to be a bottleneck. Businesses are increasingly looking for technologies that can replace manual handling of network configuration and network issues. In Intent-based networking (IBN), they have found a solution that leverages machine learning (ML) and cognitive computing to allow automation with the larger goal of aligning business intent with network intent. Moreover, intent-based networking solutions not only automate time-consuming tasks and provide real-time visibility into a network’s activity to validate a given intent, but they also predict potential deviations to that intent, and prescribe the action required to ensure that intent. This greater intelligence makes the network agile and help to reduces errors, Furthermore, IBN not only helps achieve greater speed and efficiency, but it also allows IT talent to focus on projects that provide far more value to the core business, which results in further innovation.

Furthermore, increasing investments in various sectors such as BFSI, healthcare and other sectors are expected to provide lucrative growth opportunities for the intent-based networking (IBN) market trends. Moreover, IBN solution helps to reduce costs and provide high level security to the application with the help of AI and ML algorithms, such benefits are predicted to create numerous opportunities for market growth in the upcoming years.

On the basis of industry vertical, the BFSI sector dominated the intent-based networking (IBN) market size in 2022 and is expected to continue this trend throughout the forecast period. The financial sector always wanted to remain focused on a high level of secure, reliable network connectivity communication.  Intent-based networking (IBN) solution is a good option for many banks to stay up-to-speed with the financial industry’s digital transformation. However, the healthcare sector is expected to witness the highest growth in the upcoming years. The healthcare sectors are rapidly introducing more connected devices into their health IT infrastructures, which calls for increased network visibility and management.

Region-wise, North America dominated the market share in 2022 for the intent-based networking (IBN) market, owing to the increase in technical developments that are entirely revolutionizing the landscape of the IT industry and, in turn, encouraging the drive for the implementation of efficient servers and networking solutions. In addition, an increase in investment in advanced technologies such as SD-WAN and IBN solution to improve businesses and the customer experience are anticipated to propel the intent-based networking (IBN) market growth in this region. However, Asia-Pacific is expected to exhibit the highest growth during the forecast period. This is attributed to the increase in penetration of digitalization and higher adoption of IoT, AI/ML, and cloud-based services.

The outbreak of COVID-19 provided a range of opportunities for intent-based networking market to grow over the forthcoming period. These novel opportunities include a surge in integration for cloud-based solutions and the growing adoption of advanced technologies in intent-based networking across different end-use industries. It also offers automation in intent-based network that allocates the network resources automatically and enforces policies to generate a desired state of the business objective. Furthermore, key players enhanced their service by adapting strategies such as product launch, product development, partnership and collaboration to strengthen their position in intent-based networking market. in February 20, Huawei Technologies Co., Ltd. launched the digital managed network solution to boost intent-based networking and growth for carriers' B2B services. This solution provides digital managed network capabilities and rich product portfolios, helping carriers transform from ISPs to MSPs. 

In addition, several expanded their services to create diversity and attract a wide customer pool. For instance, in July 2021, Hewlett Packard Enterprise expanded its intent-based networking security capabilities by offering solution to meet the increasing demand for integrated networking and security solutions delivered as-a-service as it entered into a definitive agreement to acquire Axis Security, a cloud security provider. These factors create numerous opportunities for intent-based networking market growth during the forecast period.

KEY FINDINGS OF THE STUDY

• By component, the solution segment accounted for the largest intent-based networking (IBN) market share in 2022.
• By deployment model, the cloud segment accounted for the largest intent-based networking (IBN) market share in 2022.
• On the basis of enterprise size, the large enterprise segment accounted for the largest intent-based networking (IBN) market share in 2022.
• Depending on industry vertical, the BFSI sector accounted for the largest intent-based networking (IBN) market share in 2022.
• Region wise, North America generated the highest revenue in 2022.

The key players that operate in the intent-based networking (IBN) market analysis Cisco Systems, Inc., Juniper Networks, Inc., Huawei Technologies Co., Ltd., Hewlett Packard Enterprise Development LP, NetBrain Technologies, IBM Corporation, Gluware, Wipro, Forward Networks, Inc. and Nokia Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the intent-based networking (IBN) industry.