New York, USA, May 30, 2023 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global C-RAN market. According to the report, the global market is projected to surpass $85,899.7 million and grow at a CAGR of 23.4% during the forecast years. This all-inclusive report delivers a comprehensive overview of the current and future situation of the C-RAN market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments during the forecast period. The report also offers all the required and vital market statistics to help new players obtain an understanding into the status of the global market.
Impact of the COVID-19 Pandemic on the C-RAN Market
The outbreak of the COVID-19 pandemic had a moderate impact on the growth of the global C-RAN market. During the pandemic, several steps were implemented to stop the virus spread, including social isolation and lockdown. In addition, the pandemic forced industries to stop operations, which hindered the production of the machinery required to build the 5G infrastructure. However, with an increase in the number of company operations shifting online and an enormous rise in the number of people working from home, indoor deployment of C-RAN architecture is expected to gain traction. These factors had a significant impact on the market growth amidst the pandemic.
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Factors Impacting the C-RAN Market Growth
The key factor boosting the growth of the global C-RAN market is a significant rise in the need for C-RAN due to its vastly expanding technical innovation around the world. Furthermore, the rising need for economical and energy-efficient networking solutions is expected to create several growth opportunities for market during the forecast period. However, strict government rules, as well as the requirement to adhere to security criteria are anticipated to hamper the market growth.
The report segments the global C-RAN market into type, component, network type, deployment, and region.
Centralized RAN Sub-Segment to Grab a Foremost Share of the Market
The centralized RAN sub-segment of the type segment is anticipated to witness the fastest growth during the forecast period. This growth is mainly due to its widespread deployment and support for several radio protocols.
Solutions Sub-Segment to Grab a Leading Share of the Market
The solutions sub-segment of the component segment is projected to show the fastest growth during the forecast period. This growth is mainly because C-RAN solutions provide low-cost, low-latency, highly reliable, and high-bandwidth communication across baseband unit pools by utilizing data center network technology.
4G Sub-Segment to Witness Rapid Growth
The 4G sub-segment of the network type segment is predicted to grow enormously during the forecast period. This growth is mainly due to the current network architecture's high-power consumption and enormous rise in data traffic.
Outdoor Sub-Segment to Observe Rapid Growth
The outdoor sub-segment of the deployment segment is expected to grow vastly during the forecast period. This growth is mainly owing to the shift to 5G in developing nations, where telecom companies are positioning additional mobile towers outdoors.
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North America C-RAN Market to Show Maximum Growth
The report analyzes the global C-RAN market across several regions such as North America, Asia-Pacific, Europe, and LAMEA. Among these, the North America market is projected to observe significant growth during the forecast years. This growth is mostly due to the telecom operators' substantial R&D expenditure for the deployment of C-RAN technology in this region.
Key Players of the Global C-RAN Market
The report states some of the foremost players operating in the global market including
- ZTE Corporation.
- Fujitsu
- Intel Corporation
- Cisco System Inc.
- Huawei Technologies Co. Ltd.
- Telefonaktiebolaget LM Ericsson
- ASOCS Ltd.
- Nokia
- NEC Corporation
- Samsung
These players are taking various initiatives, such as investing in novel product launches, strategic alliances & collaborations, and others to obtain a leading edge in the global market.
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For instance, in February 2023, Nokia, a global Finnish company engaged in telecommunications, information technology, and consumer electronics, announced anyRAN to promote cloud RAN collaborations, allowing flexibility for mobile network operators and businesses at #MWC23.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, the novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
More about C-RAN Market:
- How C-RAN and 5G Technology Helps to Overcome the Ongoing Network Problems?
- Global C-RAN Market to Experience Noteworthy Growth with Rising Interest in 5G Network Technologies
