Portland, OR , Aug. 16, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “RAN Intelligent Controller Market by Component (Platform and Services), Technology (4G and 5G), Function (Non-Real-Time-RAN Intelligent Controller (Non-RT RIC) and Near-Real-Time-RAN Intelligent Controller (Near-RT RIC)), Application (rApps and xApps), and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2032” According to the report, the global ran intelligent controller market generated $142.7 million in 2022, and is estimated to reach $14 billion by 2032, witnessing a CAGR of 58.6% from 2023 to 2032. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
Drivers, Restraints, and Opportunities-
The factors such as rise in demand for network enhancement, collaboration across ecosystems, and open interfaces primarily drive the growth of the RAN intelligent controller market. However, the difficulties in implementation and integration hamper market growth to some extent. Moreover, a rise in demand for enhanced network management is expected to provide lucrative opportunities for market expansion during the forecast period.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $142.68 Million |
| Market Size in 2032 | $14,013.96 Million |
| CAGR | 58.6% |
| No. of Pages in Report | 348 |
| Segments covered | Component, Technology, Function, Application, and Region. |
| Drivers | Rising demand for network enhancement. |
| Opportunities | Difficulties in implementation and integration |
Covid-19 scenario-
- The pandemic had delayed network deployments and investments, causing disruptions in the telecom sector, thereby delaying the implementation of new RAN infrastructure.
- The pandemic had increased demand for dependable and fast internet connectivity since individuals were being forced to work, study, and socialize from home. For remote work, online learning, video conferencing, and entertainment streaming, consumers today rely largely on their internet connections.
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The platform segment to rule the market
By component, the platform segment held the major share in 2022, garnering more than two-thirds of the global RAN intelligent controller market revenue, owing to RIC platform which enables operators to provide specialized services like low-latency apps for autonomous vehicles or high-bandwidth services for video streaming. The services segment would also showcase the fastest CAGR of 61.9% during the forecast period, owing to growing demand for network optimization and performance improvement is one of the main growth factors for the RIC service. Operators must effectively manage their radio access networks (RANs) as mobile data traffic grows in order to provide customers with a higher-quality service.
The 4G segment to maintain its dominance during the forecast period
By technology, the 4G segment contributed to the highest share in 2022, accounting more than three-fourths of the global RAN intelligent controller market revenue, owing to radio access network management and optimization grow more difficult as 4G networks develop and offer more sophisticated services and applications. By giving operators centralized control and intelligence over diverse RAN functions, the 4G RIC reduces complexity. The 5G segment would also showcase the fastest CAGR of 66.3% throughout the forecast period, owing to 5G RIC gives operators the ability to optimally manage resources, improve network performance, and deliver the various requirements of various 5G services and applications.
The non-real-time-RAN intelligent controller (Non-RT RIC) segment to dominate by 2032
By function, the non-real-time-RAN intelligent controller (Non-RT RIC) segment accounted for nearly two-thirds of the global RAN intelligent controller market share in 2022, and is expected to rule the boost by 2032, owing higher-level duties including network optimization, policy administration, and analytics, in contrast to the RT RIC, which focuses largely on real-time operations like radio resource management and scheduling. The same segment would also display the fastest CAGR of 60.4% throughout the forecast period, owing to operations like network optimization and policy management, while the Near-RT RIC is in charge of lower-latency operations like radio resource management, scheduling, and interference management that call for near-real-time decision-making.
Asia-Pacific garnered the major share in 2022
By region, North America garnered the highest share in 2022, holding more than one-third of the global RAN intelligent controller market revenue in 2022, owing to the advancements in 5G technology, the expansion of mobile networks, the adoption of Internet of Things (IoT) devices, and the need for efficient network management. The Asia-Pacific region would also portray the fastest CAGR of 63.3% during the forecast period, and is projected to retain its dominance by 2032. Owing to developing countries such as China and India, the adaption of smart technologies such as AI and ML escalates the demand for RAN intelligent controller.
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Leading Market Players-
- Telefonaktiebolaget LM Ericsson
- Nokia
- Huawei Technologies Co., Ltd.
- Intel Corporation
- Samsung
- ZTE Corporation
- Cisco Systems, Inc
- NEC Corporation
- Juniper Networks, Inc.
- VMware, Inc.
The report analyzes these key players in the global RAN intelligent controller market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
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