Intent-Based Networking Market Analysis of Effective Business Strategies 2022 to 2028

Overview

The coronavirus (COVID-19) outbreak is causing widespread concern and economic hardship for consumers, businesses, and communities across the globe. The situation is changing quickly with widespread impacts. The ongoing spread of the COVID-19 has become one of the major threats to the global economy, and is causing widespread concern and economic hardship for consumers, businesses, and communities across the globe. The “new normal” that includes social distancing and working from home has created challenges with daily activities, regular work, needs, and supplies causing delayed initiatives and missed opportunities. COVID-19 has caused the overall semiconductor industry to mobilize quickly and to make short-term decisions with long-term implications. An increase in penetration of wireless and cloud technology in various industries is expected to register a gradual increase, owing to various contributing factors such as the availability of novel products and a rise in awareness toward automation.

The emergence of the COVID-19 pandemic has caused an irrevocable loss across the world, in terms of mankind as well as the economy. It has severely affected different sectors, including agriculture, healthcare, education, infrastructure, and tourism. The consumer electronics sector witnessed a marginal dip in 2020, owing to the global health crisis, as there was restriction on movement and lockdown across various countries. It resulted in a shortage of equipment and disruptions of the supply chain. These restrictions forced the market players to explore new opportunities by leveraging technologies.

Intent-based networking (IBN) is a form of network administration that includes artificial intelligence (AI), network orchestration, and machine learning (ML) to automate administrative tasks across a network. These help in reducing the complexity of the management and maintenance of network policies. IBN solutions and services are applicable in IT & telecom, BFSI, healthcare, manufacturing, government & defense.

IBN helps the user to eliminate the errors in network configuration, which eventually leads to reduced network downtime. An increase in the adoption of virtual and network as a service will drive the growth of the IBN market. However, technology feasibility and new entrants of the vendors in the IBN market may pose a threat to the existing major players. Furthermore, an extension of the network across various domains and secured data centers for networks will offer a lucrative opportunity for the growth of the global IBN market.

Increase in cases of data breaches and network failures is the key factor that hampers the growth of the market. On the contrary, rise in awareness of the need for network as a service and surge in need of data security are the factors that are opportunistic for market growth.

Impact of COVID-19 on several industries

The COVID-19 crisis is resulting in uncertainty in the stock market, immense slow-ranging of the supply chain, falling business confidence, and increasing panic among the customer segments. The overall impact of the pandemic is impacting the production process of several industries, including semiconductors and electronics. Trade barriers are further constraining the demand and supply outlook. As governments of different countries have already announced total lockdown and the temporary shutdown of industries, the overall production process is adversely affected.

Increase in focus toward new account opening in the BFSI sector was possible due to the implementation of digital services. This is expected to create potential opportunities for the intent-based network market growth, owing to shift in preference of consumers from offline to online account opening, which helps in providing services at customers’ doorsteps.

Governments and defense around the globe are the major driving forces of the intent-based networking market. This is attributed to the fact that the federal government of North America is a source for more than one-half of total industry revenue, therefore, changes in federal funding levels greatly affect industry revenue. Research and development in the healthcare and life science sector will positively propel the market due to advancements in technologies such as nanotechnology, which will support the market growth.

The key factors that drive the growth of the IBN market include increase in focus on manufacturing, companies improving customer retention by offering quality products and surge in demand for interoperability for connected devices and IoT. however, the key factor that hampers the growth of this market is the high cost of the implementation process due to diverse standards and regulations across different geographies. Conversely, the opportunity lies in the digital transformation of customer services and rapid adoption of breakthrough technologies.

The IBN market holds a substantial scope for growth on a global scale. Recent discoveries and innovations have created vast opportunities for numerous players to step into the IBN market. Moreover, IBN eases in reporting for user-specific intent and later translates it to AI, a feasibility check, authentication, and constant tweaking of the services as per the business requirements.

• Global testing, inspection, and certification market, 2020 ($mILLION)

Source: Primary & Secondary Research and AMR Analysis

Key player strategies to tackle the negative impact

The economic impact of the coronavirus pandemic globally has been largely disruptive. Companies operating in the network industry state that temporarily shut down production sites will lead to a decline in revenues for the financial year 2020–2021. Various measures undertaken by players to tackle the negative impact are as follow ranges:

The expanded lead time of the projects

Major players operating in the IBN market are expected to continue their ongoing network installation process once the rules and regulations for coronavirus pandemics are minimized. In addition, companies will be able to strive for their business in this dire situation to propel the market positively.

Focusing on next-generation products

It is expected that demand for new and innovative products would surge once the economy begins to recover. Rather than simply improving products using current state-of-the-art technology, companies are looking forward to investing in next-generation products using new technologies, as it will well position its goodwill, once customer demand surges.

The shift toward agile elastic supply chain model

Key players in the IBN market are shifting toward an agile supply chain network model that has multiple pathways to prevent single points of failure. It can help them to balance costs with better assurance for business continuity and sustainability. Shifting from single country hubs to more extensive regional supply networks will initiate collaborative partnerships and industry associations. Key players successfully implemented work from home, which boosted the sales of the network as a service through cloud solutions and services. Stakeholders will be investing in resources and infrastructure that can quickly enable new manufacturing and supply nodes when required.

Post COVID-19 scenario

The demand from the cloud computing segment is expected to increase due to customer satisfaction, retention, reduced risk, and costs, which are important factors for companies and developers that are achieved by ensuring quality products. Firms gain a competitive edge by following quality management standards and providing standardized network services. The government will support companies that provide a licensed model, which will cover network services under one domain while enabling the agile elastic deployments. This masterstroke will help IBN players to expand almost in all industries, boosting the growth of networking in the intent-based networking market.

However, the COVID-19 crisis is expected to accelerate the adoption of smart cloud technologies. If that occurs, network companies might become smart workspaces, with technologies that facilitate remote work for most of the employees. Companies are further expected to adopt and encourage a hybrid model in their manufacturing processes in which a certain number of employees work remotely and the rest remain on site. The efficiencies gained through such changes, as well as their start-up costs, could influence future net revenue.

Recent news in the IBN market

Ericsson CTO Erik Ekudden expressed his view on the use of AI and ML for IBN. The future will be autonomously operated, self-adapting networks will make it easy to utilize the untapped capabilities of 5G networks in new business models. This will help achieve an unprecedented level of efficiency in solution and service delivery. Intent networking will play a critical role in achieving this zero-touch vision. Serving as the mechanism that formally specifies what the autonomous system is expected to do in this decade. The above factors will propel the growth of the market.

In addition, the intent-based network market in Asia Pacific is expected to exhibit growth in the coming future. Technological development by the emerging economies in Asia-Pacific boosts the intent-based network market growth. Regional growth is expected to be influenced by high demand for taking efficient and accurate business decisions. Moreover, various technological advancements related to BFSI, healthcare, government & defense are expected to propel the market growth.

Furthermore, high adoption of 5G internet services and efficient use of cyberspace at all costs of the digital world are the primary driving factors supporting the market growth across the region, including a huge emphasis on network security, which will ensure constant monitoring and safeguarding of critical cyber assets in Asia-Pacific, thus creating opening new avenues for the market.

Conclusion

The IBN market is expected to leverage high potential for IT & telecom, BFSI, Healthcare, manufacturing, government & defense industry verticals in the coming years. The current business scenario is witnessing an increase in the demand for automation in peer-to-peer business services, particularly in the developing countries such as China and India due to increase in demand for total dependence on high-speed communication. Companies in this industry are adopting various innovative techniques such as mergers and acquisition activities to strengthen their business position in the competitive matrix. R&D activities and the adoption of the technology across various equipment and applications in the developed countries such as the U.S., the UK, Germany, and China make them hold the major market shares, globally.

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