Intent-based Networking (IBN) Market Size By Component (Software, Networking Hardware [Routers, Switches, Firewall], Service [Professional Services, Managed Services]), By Deployment Model (On-Premises, Cloud), By Application (BFSI, Healthcare, Government

Intent-based Networking (IBN) Market Size By Component (Software, Networking Hardware [Routers, Switches, Firewall], Service [Professional Services, Managed Services]), By Deployment Model (On-Premises, Cloud), By Application (BFSI, Healthcare, Government & Defense, IT & Telecom, Manufacturing), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 - 2032

The global intent-based networking (IBN) market is expected to attain exponential growth through 2032 due to the rising demand for next-gen data centers which is in turn enabling the adoption of advanced switches.

The IBN market is likely to expand throughout the forecast period due to the increasing demand for intent-based networking software solutions. Through network orchestration or network automation, these solutions assist in configuring network changes across the network architecture.

For instance, in May 2022, Tech Data and Pluribus Networks collaborated to use Pluribus Networks' unified cloud fabric and networking solutions. The cloud fabric solution is a next-generation data center fabric that integrates and automates distributed security and networking across servers, switches, and distributed cloud data centers. This alliance aims to quicken customers' journeys toward digital and network transformation in the Asia Pacific and Japan region.

The intent-based networking industry is divided in terms of component, networking hardware, service, development mode, application, and region.

Based on component, the software segment recorded approximately 60% market share in 2022 and is slated to grow substantially over the review timeline owing to the increase in software demand since it aids in network planning, design, and implementation, increasing network availability. IBN software use will rise because of increased enterprise need for greater network agility.

With respect to application, the IT & telecom segment held the largest market share in 2022 and is speculated to propel steadily because of the growing need for powerful network infrastructure to support high-performance applications in organizations. Advanced networking technologies are being used by telecom carriers to manage bandwidth-intensive applications.

Meanwhile, the BFSI segment is poised to garner 30% CAGR from 2023 to 2032 credited to the rising tendency for online banking transactions. IBN technology is being used by the banking industry to improve network security across various branches.

From the regional perspective, the Europe intent-based networking market held around 20% market share in 2022 and is projected to expand at a decent pace attributed to the encouraging government measures for the expansion of broadband infrastructure across the region. The use of wireless network infrastructure is surging because of the rise in broadband penetration.

On the other hand, the Middle East & Africa intent-based networking industry is estimated to register 25% CAGR over the review period since IoT devices are becoming more prevalent throughout the MEA region due to the growing government drive for the smart city idea. These expanding IoT devices produce a ton of data flow, allowing businesses to use intent-driven networking solutions.