C-RAN Market to Surpass USD 15.64 Billion by 2030, exhibiting a CAGR of 27.1%
According to Fortune Business Insights, the global C-RAN market size is projected to reach USD 15.64 billion in 2030, at a CAGR of 27.1% during the forecast period, 2023-2030
Pune, India, Nov. 21, 2023 (GLOBE NEWSWIRE) -- The global C-RAN market size was valued at USD 3.07 billion in 2023 and is projected to reach USD 15.64 billion by 2030, exhibiting a CAGR of 27.1% over the forecast period, 2024-2030. Fortune Business Insights presents this information in their report titled "Global C-RAN Market Forecast, 2024-2030."
Cloud radio accessed network, abbreviated as cloud RAN (C-RAN), refers to a network architecture in the wireless telecommunication space. The market expansion can be credited to the growing deployment of cloud RAN in telecommunication networks due to its cost efficiency, network optimization capabilities, and scalability.
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*Key Industry Development:*
*August 2023*- Nokia announced a multi-year strategic access network collaboration with Eastlink. This deal is aimed at modernizing Eastlink’s mobile network.
*Key Takeaways*
· C-RAN market size in Europe was USD 1.27 billion in 2023
· High-speed Connectivity Offered by 4G and 5G Networks to Boost the 4G and LTE Segment Growth
· Complex Network Demands of Large Enterprises to Escalate Segment Growth
· Advanced Ability of vRAN to Proliferate the Segment Growth
· Increasing Demand for Reduced Latency to Foster Telecommunication Segment Growth
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*Discover the Leading Players Featured in the Report:*
*“Companies leading the global C-RAN market are Telefonaktiebolaget LM Ericsson (Sweden), Nokia Corporation (Finland), Huawei Technologies Co., Ltd. (China), Zhongxing New Telecommunications Equipment Co., Ltd. (China), Qualcomm Incorporated (U.S.), NEC Corporation (Japan), Mavenir Systems, Inc. (U.S.), Samsung Group (South Korea), Airspan Networks, Inc. (U.S.), Telefónica, S.A. (Spain)”*
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*Report Scope & Segmentation*
*Report Coverage* *Details*
Forecast Period 2024 to 2030
Forecast Period 2024 to 2030 CAGR 27.1%
2030 Value Projection USD 15.64 Billion
Base Year 2023
C-RAN Market Size in 2023 USD 3.07 Billion
Historical Data for 2023 to 2024
No. of Pages 170
Segments covered Network, Enterprise Type, Application, Enterprise Type, Industry and Geography
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*Drivers and Restraints:*
*Surging* *Demand for High-speed Data and Low Latency in 5G Network to Boost Market Growth*
One of the major factors propelling the C-RAN market growth is rise in the demand for low latency and high-speed data in 5G networks. The main aim of developing 5G is to offer significant improvements in mobile broadband services. This development has been made possible due to the advent of cloud RAN, which enables the opening of wireless base station network capabilities through virtualized containers.
However, tightening regulations on applications coupled with a shortage of front haul capacity may hinder the C-RAN market growth.
*Segmentation*
*By Network*
· 2G/3G
· 4G and LTE
· 5G and 5G NR
*By Enterprise Type*
· Small and Medium Enterprises (SMEs
· Large Enterprises
*By Type*
· Centralized-RAN
· Virtual RAN (vRAN)
*By Industry*
· Telecommunication
· Manufacturing
· Healthcare
· Transport and Logistics
· Mining and Energy
*By Region*
· North America
· Europe
· Asia Pacific
· Middle East & Africa
· South America
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*Regional Insights:*
*Europe To Dominate Due to Focus on Environmental Sustainability*
Europe C-RAN market to account for the largest share in 2023. The regional growth can be attributed to the growing focus on environmental sustainability and the robust presence of top companies.
North America market is poised to register the highest CAGR during the forecast period. The region is committed to network security, which has increased the adoption of the solution.
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*Competitive Landscape:*
*Leading Companies Focus on Partnerships to Increase Their Share*
Prominent companies across several domains provide innovative cloud RAN solutions and get operational benefits. Other companies are also focusing on entering partnerships to maximize their revenue and boost their industry presence.
*FAQs*
*How big is the C-RAN market?*
The global C-RAN market size was USD 3.07 billion in 2023. It is expected to reach USD 15.64 billion by 2030.
*How fast is C-RAN market growing?*
The C-RAN market will exhibit a CAGR of 27.1% during the forecast period, 2024-2030.
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*Attachment*
· C-RAN Market