New York, USA, July 12, 2023 (GLOBE NEWSWIRE) -- According to the research report published by Market Research Future (MRFR), 5G Radio Access Network Market Research Report Information By Component, By Architecture Type, By Deployment, By End User, And By Region –Market Forecast Till 2032, the market is projected to grow from USD 15.8 Billion in 2023 to USD 65.6 Billion by 2032, exhibiting a CAGR of 19.50% during the forecast period (2023 - 2032).
Market Scope:
Network providers are attempting to increase their reach so that they can meet the demands of emerging end-use applications like autonomous vehicles, augmented reality, and telemedicine. Applications such as autonomous driving necessitate reliable networks with low latency (less than 1 millisecond) and high throughput. Homogenous networks, consisting of macro base stations that provide minimal coverage, were used for the first LTE network rollouts. However, the concept of heterogeneous networks, which may be used to optimize performance for the asymmetrical distribution of users or traffic, is becoming increasingly mainstream.
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Competitive Dynamics:
Key Companies in the 5G Radio Access Network market include:
- Telefonaktiebolaget LM Ericsson
- Qualcomm Technologies, Inc.
- Nokia
- Intel Corporation
- Samsung
- Verizon
- Cisco Systems, Inc.
- Huawei Technologies Co., Ltd.
- VMware, Inc.
- Rakuten Symphony Singapore Pte. Ltd
Scope of the Report - 5G Radio Access Network Market:
| Report Metrics | Details |
| Market Size by 2032 | USD 65.6 Billion |
| CAGR during 2023-2032 | 19.50% |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Key Market Opportunities | Growth in network densification |
| Key Market Dynamics | Growing demand for improved network coverage and increasing demand for mobile broadband services |
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Market Drivers:
Market expansion is being driven by a number of reasons, including rising demand for low latency bandwidth connections and greater investment in R&D by major players. In addition, the robust deployment of a 5G RAN with numerous small cells and macrocell base stations around the world is fueling the expansion of the industry over the foreseen time frame.
To cut down on infrastructure costs and simplify their networks, mobile network operators (MNOs) and network service providers are increasingly using centralized RAN and virtual RAN (VRAN) deployments. In addition, the RAN enables businesses and mobile network operators to provide network slicing solutions, which allocate capacity to individual businesses in order to divide up network use inside a public mobile network, by making use of private 4G or private 5G. Technological advancements and consumer preference for 5G RAN solutions are driving the industry's rapid expansion.
Increasing investments in private 5G radio access networks and core infrastructure for a variety of use cases have contributed to this massive market. Smart cities, remote surgeries, businesses, wireless cameras, industrial robots, and autonomous cars are all examples of these types of applications. Several major telecom operators and end-use customers have already deployed the virtualized network in an effort to reduce operational expenses in light of rapidly developing RAN technologies.
Market Restraints:
However, a major limitation that could stunt industry expansion is worry over fiber backhaul and privacy and security.
COVID-19 Analysis:
The COVID-19 epidemic has severely harmed the worldwide economy and the consequent 5G rollout and RAN deployments. The import and export of hardware equipment from the United States, China, and other important European countries fell significantly in 2020. As a result, it slowed down the process of rolling out the next generation of network infrastructure around the world.
As COVID-19 progresses, new use cases for 5G-enabled applications will emerge, increasing their productivity. 5G ensured the continuity of previously unreliable industries including telemedicine, telecommuting, distance education, and e-commerce. It also allowed for telemedicine, hospital remote monitoring, instant messaging, workplace video conferencing, online education, and an interactive and immersive shopping experience.
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Market Segmentation:
- By Component - The year 2022 was a watershed year for the hardware industry. Antennas, radios, baseband devices, and others are a few additional hardware subcategories. Radio access networks use antenna systems that operate on a variety of frequency bands to improve data speed, expand coverage, and reduce interference.
- By Architecture Type - In 2022, the CRAN subsegment accounted for the lion's share of the market. Cloud radio access networks (CRANs) continue to expand in popularity as a result of developments in optical, wireless, and information technology (IT) communication systems. CRAN is a design for a radio access network that is hosted in the cloud. It employs novel hardware with embedded software to improve spectrum efficiency, adaptive networks, effective enhancements, monitoring, updates, testing, and maintenance, and higher data speeds.
- By Deployment -The outdoor industry is predicted to be the most lucrative in 2022. Over the forecasted time period, it will grow at a compound annual growth rate of 16.8 percent. Growing 5G use cases like those in smart factories, manufacturing, industrial robotics, autonomous vehicles, and smart cities are driving the need for outdoor 5G RAN deployment.
- By End-User - Telecom operators and businesses make up the End User section of the 5G Radio Access Network Market. In 2022, the expanding telecommunications sector and related information technology infrastructure are likely to make telecom operators the most prominent group.
Regional Analysis:
The Asia-Pacific region was the most important market in 2022. The presence of various companies, including as Samsung and Huawei Technologies Co., Ltd., and the enormous number of investments expected to go toward the construction of automated factories in the area are the primary drivers of this growth.
The market share of Europe's 5G Radio Access Network is second greatest. Europe's potential for large investments and corporate growth is luring more and more key industry participants to the continent. The increasing number of devices using cutting-edge technologies like the Internet of Things (IoT) and machine-to-machine communication necessitates faster connection, robust government efforts, and continuous projects.
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The North American 5G Radio Access Network market expanded substantially in 2022. Due to its large R&D presence and advanced 5G networks, this region is poised to earn the lion's share of the global market revenue for the foreseeable future. The rapid adoption of 5G RAN in the United States and Canada has been made possible by the broad availability of 5G infrastructure and the substantial government investments in 5G rollouts and installations.
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