(MENAFN- P&S Intelligence) The global intent-based networking market has garnered USD 1,139.0 million in revenue in 2023, and it is projected to rise at the rate of 25.6% from 2024 to 2030, to capture USD 5,606.3 million by 2030.
This is credited to the fact that the networking sector is leaning from conservative networks to intent-based networks because of their progressive features. This is being conducted to attain supreme productivity and efficiency with the aid of the fewest possible resources.
SDN, which stands for software-defined networking, mechanizes setups to advance reliability and scalability while providing better flexibility for changing the networks and a general view of network topology. A solution, which is based on the same principles for untying a network forwarding and control function referred to as SDWAN, has been widely adopted because of the features that make it comparable with SDN. But in today's scenario, as the popularity of virtualization increases, it is even possible to replace SDWAN with intent-based networking.
In 2023, on the basis of the component segment, the solutions category is leading the market, with an income share of over 65%, worldwide. Intent-based networking solutions are vital for reducing the difficulty of networks, as they permit establishments to use the graphical user interface (GUI) in order to improve and automate the network configuration procedure.
The requirement to reconsider business models by utilizing pioneering algorithms, network transparency, and GUIs, in order to advance network effectiveness, is propelling the emphasis of firms on IBN automation, with the rising requirement to offer a new and extremely modified client experience.
The higher contribution to the industry revenue by huge enterprises is because of their massive expenditure in intent-based networking and associated facilities to proficiently handle their customer base. One more reason behind their substantial income contribution is their advanced monetary capacity, credit to which they can buy costly infrastructure to deploy IBN.
Furthermore, the extensive usage of laptops and smartphones in huge companies has added to the industry's development. To handle and add connected devices, international establishments use IBN solutions and services.
The development of the BFSI category will be credited to the rise in the execution of pioneering IBN solutions in order to accelerate the deployment of digital facilities and customer-centric business models by monetary institutions.
The North American region is leading the industry. This dominance of the industry in the region can be credited to the existence of protuberant businesses, like Cerium Networks, A10 Networks Inc., Cisco Systems Inc., Astra Inc., and Forward Networks Inc. Basically, the region’s cutting-edge technology and huge telecom infrastructure are boosting the demand for IBN. Futuristic inventions and the extensive access to advanced network architecture are further directed to the industry development.
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