Wilmington, Delaware, United States, March 15, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – As per a Transparency Market Research study, the Open RAN (Radio Access Network) Market was valued at US$ 250.6 Mn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 29.7% during the forecast period from 2023 to 2031.
Open RAN (Radio Access Network) is a new approach to building wireless communication networks that aim to promote interoperability, flexibility, and cost efficiency. Rather than relying on proprietary technology from a single vendor, open RAN brings in open standards and interfaces that enable network equipment from different vendors to work together seamlessly. With open RAN, operators can choose the best equipment from multiple vendors, and mix and match them to build a customized network that meets their specific needs.
Leading open RAN security market players are collaborating with other companies to expand their presence and improve revenue share. In the second half of 2022, Fortinet and NEC signed a global agreement to build secure 5G networks for communication service providers (CSPs). NEC will act as a network integrator to leverage Fortinet’s security solutions, including automation capabilities and AI-driven threat intelligence solutions, to deliver services in various countries across the globe.
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Key Findings of Market Study
- Increase in Need for Mobile Network Operators to Reduce Capital Investments and Operating Costs: Mobile network operators (MNOs) have traditionally relied on proprietary hardware and software solutions from a few vendors to build and operate their mobile networks. This approach requires significant capital investment in network infrastructure. However, with the emergence of open RAN technology, MNOs have an opportunity to reduce their capital investment and gain more control over their network infrastructure. Open RAN is a software-centric approach to building mobile networks that use standardized interfaces and open source software to allow for greater interoperability between different vendors' hardware and software components.
By adopting open RAN, MNOs can reduce their dependence on proprietary solutions and increase competition among vendors, thus potentially lowering costs and improving network performance. This enables MNOs to deploy new services and features swiftly, respond more nimbly to changes in customer demand, and better manage the ongoing maintenance and upgrade of their networks. - Surge in Demand for Open RAN Architecture: Key factor contributing to the increase in demand for Open RAN architecture is the growth in focus on speeding up interoperability testing procedures. Telecom networks and mobile operators gain cost savings, virtualization, automation and interoperability by opening up the RAN network.
Open RAN Security Market - Key Drivers
- The O-RAN architecture introduces new infrastructure, functions, and interfaces that expand the attack surface that could potentially affect the operations and assets of organizations across various industry verticals
- Rise in adoption of software, cloud-based solutions, and digitalization in different end-use industries is estimated to boost open RAN security market size in the next few years
- Growth in adoption of multi-vendor deployment of open RAN security approach in various end-use industries is boosting market growth
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Open RAN Security Market - Regional Insights
- North America held dominant market share in 2022 and is estimated to maintain its dominance during the forecast period. Increase in deployment of 5G networks, cloud architecture, and cloud-native applications in countries such as the U.S. is projected to drive market development in the region. Additionally, presence of several leading companies, such as AT&T and T-Mobile, in countries in North America such as the U.S. and Canada is projected to augment the market size in the region in the near future
- The market in Asia Pacific is anticipated to witness significant growth in the next few years due to increase in demand for open RAN security solutions among various mobile network companies in countries such as India and China. Additionally, growth in smartphone penetration, especially in developing economies, is likely to positively impact the demand for 5G networks. This, in turn, is likely to boost open RAN security market development.
Open RAN Security Market - Key Players
Open RAN security concerns remain evident, where commercial benefits have outweighed security considerations in the market. A clear provisioning to spell out and address security concerns in open RAN is anticipated to gain more importance to ensure the safety of network components.
Some of the players operating in the market are
- Cisco Systems Inc.,
- NEC Corporation,
- Huawei Technologies Co. Ltd.,
- Accenture,
- Nokia,
- Fujitsu, and Qualcomm Corporation.
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The global market has been segmented as follows:
Segment Type
- Multi-vendor management
- OpenOpen Fronthaul Security
- rApps/xApps
- Others
Region
- North America
- Asia Pacific
- Europe
- Middle East & Africa
- Latin America
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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