Intent Based Networking Market Vendors - Upcoming Trends and Business Opportunities till 2023

Market Insights

While studying about the intent-based networking market, one of its key capabilities is having the capacity to monitor, identify and react to change the network conditions. Therefore, it relates to the proper provision of network and administration as well as proactively manages the change in the entire operational conditions. At the core, intent-based networking is known to owe to its capabilities that have been evolving over the years. With the advent of machine learning algorithms, development of intent-based networking has become more evident in providing network automation.

Hence, leading to such autonomous functions and reducing human errors coupled with decreasing costs have efficiently taken the global Intent-Based Networking to rise high at a CAGR of42%. Also, it is expected that the market is capable of reaching a valuation of USD 4,908.5 million by 2023 from USD 634.5 million in 2017. This report has been countered by Market Research Future Reports, where analysts have gathered excellent research material about the market.

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Segmentation

According to MRFR’s reports, the global intent-based networking market has been segmented on the basis of application, component, and end-user.

Segmentation by application comprises of the data center, remote offices, and cloud.

Segmentation by component comprises of hardware, software, and services.

Segmentation by end-user comprises of BFSI, IT and telecommunication, government, defense, healthcare, and others.

Regional Analysis

The global Intent Based Networking Market Vendors is assessed to proliferate moderately during the forecast period from 2018 to 2023. MRFR portrays a geographical analysis of intent-based networking (IBN) market, which is studied for North America, Europe, Asia-Pacific, and the rest of the world.

Among them, North America is the leading region owing to the presence of key players in the region. Here, the US is leading with the intent-based networking market by having the appearance of key companies such as Apstra Inc, Veriflow Systems and Cisco. These have a significant market share and is expected to lead the IBN market in the forecast time. An added factor that is driving the IBN market in North America is the continuous research and development in this field coupled with the new development of products by the key players.

Next comes, Europe region, which is expected to mount with high pace during the forecast period owing to the presence of various industries such as BFSI, It and telecom industry, and others. Besides, the European government is also mainly supporting for IBN to reduce the glitches.

Asia-Pacific is also expected to be the fastest growing market with increasing investments being made by the key players in the region. Even, with the increasing number of IoT devices is driving the IBN market, as robust network connectivity is the need for information transfer. With that, to enhance the network connectivity infrastructure in future, IBN will play a crucial role and thus would grow the market exponentially.

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