Intent-Based Networking (IBN) Market – Latest Innovation by Regional Forecast to 2023
On a global scale, the intent-based networking (IBN) market had reached a valuation of USD 634.5 million in 2017 and its worth can be USD 4,908.5 million by 2023, reveals Market Research Future (MRFR). MRFR also says that the market has the potential to accrue a remarkable growth rate of 42% during the forecast period (2017-2023).
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Regional Insight
The geographical categorization of the intent-based networking (IBN) market consists of North America, Asia Pacific (APAC), Europe, in addition to the Rest of the World (RoW).
The MRFR report highlights North America as the top market for intent-based networking. The market is performing extremely well since the region is occupied by a large number of esteemed players. The United States (US) is the leading market for intent-based networking in the region, as the country is inundated with highly regarded vendors like Veriflow Systems, Cisco, and Apstra Inc. that constantly adopt marketing hacks like product innovations to stay ahead of the competition. An additional factor that induces market growth in the region is the rigorous efforts being put in research and development (R&D) to improve the quality of their IBN technology. To illustrate, in 2018, Apstra Inc had developed AOS 2.2, which is used by enterprises to elevate the network capabilities and also to conduct advanced analytics.
Europe can note strong growth in Intent-Based Networking (IBN) Market in the years ahead, on account of the high concentration of important industries like It and telecom industry, BFSI, and others. Also, the government in the region does everything in its capacity to boost the use of IBN, with the aim of reducing the glitches.
APAC has the potential to achieve the fastest growth rate from 2017 to 2023, owing to the surging investments being made by renowned vendors. Besides, the rising number of IoT devices due to the surging need for reliable network connectivity is favoring the regional market. Huawei Technologies Co., Ltd has been identified as one of the top-performing players responsible for more than half of the market growth in the region.
Top Players
Some of the top players shaping the worldwide market for intent-based networking (IBN) include Juniper Networks Inc (US), Huawei Technologies Co Ltd (China), Cerium Networks (US), Cisco Systems Inc. (US), Indeni Ltd (US) Veriflow Systems (US), Anuta Networks (US), Apstra Inc. (US), Pluribus Networks (US), Forward Networks, Inc (US), to mention a few.
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