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“Cisco (US), Juniper Networks (US), IBM (US), Huawei (China), HPE (US), Nokia (Finland), Wipro (India), Gluware (US), Forward Networks (US), NetBrain Technologies (US), Frinx (Slovakia), and Indeni (US).”

MarketsandMarkets forecasts the global intent-based networking market size to grow from USD 0.8 billion in 2022 to USD 2.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 25.9% during the forecast period. Major factors expected to drive the growth of the intent-based networking market include need of automation in network architecture, growing need for efficient connectivity network to handle increasing, and growing number of devices on network.

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Based on offering, the solution segment to hold a higher market share during the forecast period

The intent-based networking market is a solution-driven market. IBN solution plays an integral role in reducing the complexity of networks, as they enable enterprises to leverage the Graphical User Interface (GUI) for automating and enhancing the network configuration process. The reasons powering IBN automation forward are the intense desire to create an innovative and highly personalized customer experience and redesigning business models by leveraging advanced algorithms, GUI, and network visibility to enhance the efficiency of networks. An effective IBN solution must be multi-level, which should allow everything from virtual machines to management of systems to network discovery as required by an enterprise.

Based on organization size, the large enterprises segment to hold a higher market share during the forecast period

Large enterprises possess strong budget capabilities and are significantly investing in the adoption of the intent-based networking and associated services to manage their subscription base efficiently. The growth of the large enterprises segment is mainly governed by the increasing number of smart devices across large enterprises. Large enterprises are adopting IBN solutions and services to integrate and manage these large device numbers. IBN solutions and services ensure various business benefits, such as network operational efficiency, cost efficiency, and automated network management.

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Unique Features in the Intent-based Networking Market

Intent-based policies are used by IBN platforms to automate network provisioning, maintenance, and configuration based on intended business objectives. This lowers human configuration errors and improves operational efficiency.

IBN solutions dynamically optimise network resources and settings to meet shifting demands, guarantee optimal performance, and improve user experience. They do this by continually monitoring network circumstances and user intents.

Certain IBN platforms come equipped with natural language processing interfaces that let network managers ease activities related to network management and setup by expressing their intentions through instructions in human language.

Closed-loop feedback mechanisms built into IBN systems verify if network behaviours match predefined intents, allowing for automated repair measures and guaranteeing policy compliance and intent fulfilment.

IBN systems make smart decisions and dynamically modify network policies and configurations in real-time by utilising contextual insights from network telemetry, application performance measurements, and user behaviour patterns.

Major Highlights of the Intent-based Networking Market

With the ability to automate network provisioning, configuration, and optimisation based on business intent, IBN marks a move in networking towards transformational automation. This can reduce human labour and increase operational efficiency.

By enabling enterprises to dynamically react to shifting business objectives and user expectations, IBN solutions improve network agility by preserving the responsiveness and flexibility of the network infrastructure.

By lowering the complexity of network operations and allowing administrators to describe their desired results in declarative statements or natural language, IBN simplifies network management by abstracting complex settings into high-level intents or policies.

Predictive analytics and machine learning algorithms are used by IBN platforms to evaluate network telemetry data, spot patterns, foresee performance problems, and suggest preventative actions to improve network performance and minimise downtime.

Intent assurance capabilities are offered by IBN systems, which check if network behaviours match defined intentions and policies. This helps to make sure that network modifications adhere to security regulations and corporate goals.

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Top Companies in the Intent-based Networking Market

The major intent-based networking vendors include Cisco (US), Juniper Networks (US), IBM (US), Huawei (China), HPE (US), Nokia (Finland), Wipro (India), Gluware (US), Forward Networks (US), NetBrain Technologies (US), Frinx (Slovakia), and Indeni (US). These players have adopted various growth strategies in the intent-based networking market. Agreements, collaborations, and partnerships, and new product launches and enhancements have been the most dominating strategies adopted by major players from 2021 to 2023, which helped them innovate their offerings and increase their customer base.

Cisco is one of the leading vendors that provide intent-based networking solutions. Intent-based networking built on Cisco DNA takes a software-delivered approach to automating and assuring services across the WAN and campus and branch networks of users. Cisco’s one of the product categories—secure agile networks—has generated the revenue of USD 23.8 billion in fiscal year 2022. The company has a wide product portfolio for intent-based networking management and automation. The R&D investments of the company are applied generally to all product areas, with specific areas of focus being identified regularly. The company’s recent areas of increased focus include intent based networking technologies, security, and analytics products. The company also focuses on acquisitions and partnerships to achieve business growth and increase in intent-based networking category. In the year 2021, the company acquired IMImobile, Socio Labs, and Kenna Security to improve its product portfolio.

Juniper Networks provides enterprise networking solutions that transform the network experience of users with resilient, closed-loop, and intent-driven automation powered by AI and ML. The company also focuses on launching intent-based networking products regularly. Juniper Networks provides intent-based networking solutions that transform the network experience of users with resilient, closed-loop, and intent-driven automation powered by Artificial Intelligence (AI) and Machine Learning (ML). Juniper Networks has entered into strategic acquisitions and partnerships with strong players, which would help it to expand its product portfolio and distribution networks in several markets. Juniper Networks has emerged as a key player for intent-based networking services and solutions. In addition, Juniper Networks has global operations and earns its revenue from multiple regions, including Americas, EMEA, and APJC. The company also focuses on acquisitions and partnerships to achieve business growth and increase in intent-based networking. For instance, Juniper Networks acquired Netrounds in September 2020, enabling Juniper to fully automate the complexities of testing. In the year 2021, the company acquired Apstra and partnered with Indonet; it acquired WiteSand in 2022, thus increasing its product portfolio. Also, Juniper Networks partnered with Anuta Networks in June 2020 to deliver advanced intent-based networking.

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“NEC (Japan), Microsoft (US), Thales (France), AWS (US), IDEMIA (France), Aware (US), Daon (Ireland), Megvii (China), Facephi (Spain), Herta Security (Spain), OneSpan (US), Q3 Technologies (US), Neurotechnology (Lithuania), Cognitec Systems (Germany), Ayonix (Japan), NVISO.ai (Switzerland), FaceFirst (US), Clarifai (US), Iproov (UK), Oosto (Israel).”

The global facial recognition market is estimated to be worth USD 6.3 billion in 2023 and is projected to reach USD 13.4 billion by 2028, at a CAGR of 16.3% during the forecast period. The driving force behind the widespread adoption of facial recognition technology is its significant role in integrating facial recognition into mobile devices for authentication and security.

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Incorporating facial recognition technology into mobile devices presents a significant potential for expansion, carrying substantial consequences for security and identification. Facial recognition technology for device identification improves user ease and security as cell phones have become commonplace. Hence, it drives the demand for facial recognition technology for authentication and security purposes.

The global reaction to the COVID-19 outbreak is strongly linked to the driving force behind contactless solutions, including facial recognition technology. The pandemic created a general need to improve cleanliness and minimize physical touch, spurring a boom in the use of facial recognition in various industries. This trend has seen the rise of facial recognition as a significant factor, especially in authentication and access management applications.

By Deployment Mode, the on-premises segment accounts for a larger market share.

The on-premises segment is estimated to account for a larger market share during the forecast period. On-premises facial recognition refers to software and hardware systems installed locally within an organization’s facilities, rather than cloud-based services. On-premises deployments allow organizations to retain complete control and security of biometric data and integrate with existing infrastructure like access control and security cameras. Key benefits of on-site deployment include data sovereignty, lower latency responses, the ability to function offline, and avoidance of recurring cloud subscription costs. Its typical use cases include building access, employee time tracking, and loss prevention in retail stores or casinos.

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Unique Features in the Facial Recognition Market

By enabling users to access devices, systems, and apps using only their distinct facial features, face recognition enhances security and convenience for users through secure biometric authentication.

In a variety of settings, including airports, border crossings, and security facilities, facial recognition systems enable quick authentication and access control by providing real-time identification and verification of people.

Sentiment analysis and customer feedback analysis are two applications that might benefit from the identification of facial expressions and emotional states made possible by advanced facial recognition technologies.

In order to ensure compliance with health and safety laws during the COVID-19 pandemic and in other instances where facial coverings are essential, facial recognition technology can identify the existence of masks on persons’ faces.

Certain facial recognition systems provide functionality for estimating age and gender, which enables businesses to examine demographic data and adjust their customer experiences, product offerings, and marketing tactics accordingly.

Major Highlights of the Facial Recognition Market

Facial recognition algorithms are constantly evolving in the market, improving tasks related to face detection and recognition in terms of accuracy, speed, and dependability.

By providing real-time identification and surveillance of people, facial recognition systems improve security and safety by assisting in the prevention of fraud, crime, and unauthorised entry to sensitive places.

In a number of applications, including smartphone unlocking, automated check-in at airports, and frictionless payments at retail establishments, facial recognition provides efficiency and ease while optimising customer experiences.

Due to worries about data security, privacy, and potential abuse, facial recognition technology is becoming widely used. This has sparked discussions and regulatory scrutiny about the technology’s moral implications and responsible application.

Multimodal biometric authentication is made possible by facial recognition systems, which increasingly use biometric authentication techniques and artificial intelligence (AI) to increase security and accuracy. This improves identification verification.

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Top Companies in the Facial Recognition Market

The major players in the facial recognition market are NEC (Japan), Microsoft (US), Thales (France), AWS (US), IDEMIA (France), Aware (US), Daon (Ireland), Megvii (China), Facephi (Spain), Herta Security (Spain), OneSpan (US), Q3 Technologies (US), Neurotechnology (Lithuania), Cognitec Systems (Germany), Ayonix (Japan), NVISO.ai (Switzerland), FaceFirst (US), Clarifai (US), Iproov (UK), Oosto (Israel), Pangiam (US), Clearview AI (US), Corsight AI (Israel), Facia (UK) Veridium (US), and Visage Technology (Sweden). The market participants have employed diverse tactics, including creating cutting-edge products, collaborations, agreements, growth, and procurements, to fortify their standing in the facial recognition industry. By offering application performance and security, the organic and inorganic methods have assisted the market players in their global expansion.

Microsoft

Microsoft is a technology company. Microsoft is creating platforms and tools powered by artificial intelligence (AI) that deliver more effective solutions to support small and large businesses. The company offers businesses a wide range of cloud-based solutions and other services, licensing and supporting various software products. The company’s reporting segments include Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity, Business Processes, and Intelligent Cloud reflect its cloud and on-premises product strategies and trends. More Personal Computing provides strategic product insights to assess the performance across its commercial and consumer businesses.

Microsoft has a workforce of 221,000 employees, as per June 2023 data. Microsoft operates in 190 countries. It operates in North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

AWS

AWS is a subsidiary of the tech giant Amazon. Amazon Web Services provides a wide range of worldwide cloud-based services, including computing, storage, databases, analytics, networking, mobile, developer tools, management tools, IoT, security, and corporate apps that are pay-as-you-go, on-demand, and instantly available. Over 200 AWS services are offered, from content delivery to directories, data warehousing, and deployment tools. Without the initial set cost, new services can be provisioned swiftly. This makes the building blocks they need to react swiftly to shifting business requirements available to corporations, start-ups, small and medium-sized organizations, and consumers in the public sector.According to Amazon, millions of B2B customers and thousands of partners access AWS core services daily, including nearly every industry.

Daon

Daon is a digital identity company leading in next-generation identity proofing, biometric authentication, and digital onboarding. It offers digital identity solutions for various industries and applications. It uses biometric authentication and identity-proofing technologies to help organizations verify and secure their customers’ identities. The company offers multiple solutions, including xAuth, xFace, xProof, and xVoice applications. Its AI/ML-powered platforms, IdentityX and TrustX, enable organizations to authenticate and manage identity securely throughout the customer lifecycle. Daon employs facial recognition in 3 core products: xAuth, xFace, and xProof. Larger organizations worldwide are opting for the company’s scalable identity-proofing solution that secures over 1 billion identities and handles over 250 million daily authentications.

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/facial-recognition-market-995.html

Press Release Distributed by ABNewswire.com

To view the original version on ABNewswire visit: Facial Recognition Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2028