New York, Jan. 10, 2022 (GLOBE NEWSWIRE) -- According to the statistics by the International Telecommunication Union (ITU), the number of internet users around the globe touched 3969 Million by the end of 2019, growing from 1100 Million in the year 2005. Additionally, it has been studied that by the end of 2025, 1/3rd of the population of the world would be able to access 5G networks. Moreover, the technology is anticipated to occupy around 20% of the total share of network connections by the end of the same year. Besides this, around 1 Billion 5G connections are expected to be registered in the same year.
Kenneth Research has recently released a report on “Open Radio Access Network (O-RAN) Market: Global Demand Analysis & Opportunity Outlook 2020-2028” which focuses on the latest market insights, including the key market dynamics, and the strategies of the players operating in the market. Moreover, the report also utilizes various analytical tools, such as SWOT and PESTEL analysis to better analyze the different market parameters that would help the readers of this report make meaningful decisions for their businesses.
Unlike any other major commodity, the internet in today’s world has occupied a larger share of almost any individual’s day-to-day life. Backed by the growing demand for high-speed internet, along with the surge in the number of smartphone users around the globe, which is expected to reach close to 7500 Million by the end of 2021, up from around 3500 Million in the year 2015, the telecom operators worldwide are looking out to provide a wide range of added services to their customers above their regular telephony services. The next-generation 5G cellular network technology, which was introduced in the telecommunications industry in July 2016 and was developed by the 3rd Generation Partnership Project (3GPP), provides greater bandwidth in comparison to its predecessors and allows service providers in the telecommunications industry to provide a wide range of added services, including video streaming, live sports, music streaming, and gaming among others. As a result, telecom operators around the world are stretching their budget for investments in the 5G technology. For instance, by the end of 2025, telecom operators in North America, Greater China, Europe, and the Asia Pacific are expected to spend close to USD 280 Billion, USD 170 Billion, USD 150 Billion, and USD 145 Billion respectively for 5G networks. Moreover, the investment of 5G as a share of total capital expenditure in these regions by the end of the same year is expected to reach about 95%, 85%, 90%, and 70% respectively.
Get Sample Copy of This Report @ https://www.kennethresearch.com/sample-request-10352259
However, a major challenge that lies with the telecom operators is that as they shift towards 5G services, they have to evolve accordingly from closed traditional networks to open radio networks. The concept of open radio access network (O-RAN) is to have an interoperability standard for RAN elements between the equipment of different vendors. Prior to the development of 5G network technology, radio access network (RAN) vendors offered equipment and software that was totally proprietary, and hence lowered flexibility and interoperability. With the growing demand for 5G technology worldwide, the need for open radio access network (O-RAN) is expected to increase significantly, and in turn, drive the growth of the global open radio access network (O-RAN) market in the coming years. The market registered a revenue of USD 180 Million in the year 2020 and is further expected to reach a revenue of USD 22500 Million by the end of 2028, by growing with a CAGR of 85% during the forecast period.
The global open radio access network (O-RAN) market is segmented by region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Amongst the market in these regions, the market in the Asia Pacific generated the largest revenue of USD 70 Million in the year 2020 and is further expected to touch USD 8200 Million by the end of 2028. The market in the region is further segmented by country into Japan, South Korea, India, and the Rest of Asia Pacific. Amongst the market in these countries, the market in India is expected to grow with the highest CAGR of 102% during the forecast period, while the market in Japan is projected to garner the second-largest revenue of USD 1900 Million by the end of 2028. Additionally, in the year 2020, the market in Japan registered a revenue of USD 60 Million.
Browse to access In-depth research report on Open Radio Access Network (O-RAN) Market with detailed charts and figures: https://www.kennethresearch.com/report-details/open-radio-access-network-o-ran-market/10352259
On the other hand, the market in North America generated a revenue of USD 50 Million in the year 2020 and is further expected to touch USD 7000 Million by the end of 2028. The market in the region is further segmented by country into the United States and Canada. Out of these, the market in the United States is expected to display the highest market share by the end of 2028, whereas the market in Canada is projected to grow with the highest CAGR of 137% during the forecast period.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global open radio access network (O-RAN) market is further segmented by components into hardware, software, and services. Out of all these segments, the hardware segment generated the largest revenue of USD 101 Million in the year 2020 and is further projected to touch USD 9990 Million by the end of 2028. Moreover, the software segment is expected to grow with the highest CAGR of 92% during the forecast period.
The global open radio access network (O-RAN) market is also segmented on the basis of end-use vertical into automotive, industrial, public infrastructure, healthcare, aerospace & defense, media and entertainment, financial services, and others. Amongst all these segments, the industrial segment registered the second-largest revenue of USD 48 million in the year 2020. Moreover, the segment is projected to garner a revenue of USD 6800 Million by the end of 2028.
Get a Sample PDF of Open Radio Access Network (O-RAN) Market Report@ https://www.kennethresearch.com/sample-request-10352259
The global open radio access network (O-RAN) market is further segmented by connectivity technology, and by deployment location.
Global Open Radio Access Network (O-RAN) Market, Segmentation by Connectivity Technology
- 4G LTE
- 5G
Global Open Radio Access Network (O-RAN) Market, Segmentation by Deployment Location
- Urban
- Rural
Enquiry before Buying This Report @ https://www.kennethresearch.com/sample-request-10352259
Some of the potential vendors of O-RAN components in the global open radio access network (O-RAN) market that are included in our report are Metaswitch Networks, Mavenir, NTT DOCOMO, INC., Sterlite Technologies Limited, Huawei Technologies Co., Ltd., Radisys Corporation, Casa Systems, VIAVI Solutions Inc., Parallel Wireless, Inc., NXP Semiconductors, and others. The report also includes key players who manufacture the radio units for O-RAN, namely Fujitsu Limited, NEC Corporation, Benetel Ltd., Comba Telecom Systems Holdings Ltd., and others. Further, players manufacturing fiber optics, wired & wireless components for O-RAN are ip.access Ltd., Altiostar, NTS Technology, and others.
Browse More Related Report:
Global Content Delivery Network Market (CDN) by Country (United States, Canada, India, China, Japan, United Kingdom), Company Profiles, Share, Trends, Analysis, Opportunities, Segmentation and Forecast 2018-2028
Cloud Storage Market, By Country (United States, Canada, India, China, Japan, United Kingdom), Company Profiles, Share, Trends, Analysis, Opportunities, Segmentation and Forecast 2018-2028
Global Mobile Payment Market Insights, Opportunity Analysis, Market Shares and Forecast 2018-2028
Global Internet of Things Market Insights, Opportunity Analysis, Market Shares and Forecast 2018-2028
Global Hadoop Market Insights, Opportunity Analysis, Market Shares and Forecast 2018-2028
About Kenneth Research
Kenneth Research is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment, etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
Contact for more Info:
AJ Daniel
Email: info@kennethresearch.com
U.S. Phone: +1 313 462 0609
Web: https://www.kennethresearch.com/
