Dublin, Sept. 06, 2024 (GLOBE NEWSWIRE) -- The "Open Radio Access Network (Open RAN) Market Size, Share, Growth Analysis, By Offering (Hardware, Software, Services), Network Deployment (Public and Private), Frequency Band (Sub-6GHz, mmWave), Deployment Phase, & Region - Global Industry Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The Open Radio Access Network (Open RAN) market is experiencing a substantial upturn, with predictions indicating a growth trajectory from its current estimation at USD 2.8 billion in 2024 to an impressive USD 20.9 billion by 2030. This market surge is propelled by a notable Compound Annual Growth Rate (CAGR) of 39.4%.
Such expansion is largely attributed to the heightened necessity for network flexibilities, such as those provided by Open RAN technology, which allows telecom operators to reduce dependencies on single vendors by adopting multi-vendor synergies. Emerging 5G technology is bolstering the demand for cost-effective and scalable network infrastructure solutions, while regulatory policies are increasingly supportive of open standards and the myriad benefits they present.
Service Offerings to Witness Substantive Advancement
In the Open RAN market, the services segment is expected to burgeon with the highest CAGR in the forecast period. Network operators are inclining towards services including network planning, optimization, deployment, integration, support, and maintenance. The shift towards virtualization and cloud-native architectures augments the need for expertise in these areas, as these technologies are integral components of the Open RAN ecosystem.
Greenfield Deployments to Lead the Market
Greenfield deployments in the Open RAN market are forecasted to maintain the largest share over the anticipated period. Operators who embark on greenfield deployments gain the advantage of choosing from a variety of vendors for different network components. This approach mitigates the constraints typically associated with proprietary systems from single vendors and fosters a competitive environment ripe for innovation.
North America to Maintain a Dominant Position
In North America, the robust connectivity infrastructure is setting the groundwork for advanced adoption and integration of Open RAN systems. This region is underpinned by government initiatives that encourage innovation and strengthen the competitive landscape in the telecom sector. The proliferation of 5G networks, driven by the demand for high-speed data and burgeoning new applications, further energizes Open RAN uptake in this zone.
Key Market Dynamics and Competitive Analysis
This examination of the Open RAN market delves deep into the various drivers influencing growth, including the push for enhanced network flexibility and the beckoning of accelerated technological innovation. Challenges such as high integration costs and the complexity of multi-vendor networks are also scrutinised. The competitive evaluation provides a critical analysis of market shares and the strategies of leading service providers.
Strategic Implications and Future Outlook
As the Open RAN market surges forward, stakeholders are provided with essential insights to better position their business strategies and identify suitable go-to-market approaches. The data delineates key market drives, the comprehensive competitive landscape, and the opportunities that await in this evolving industry.
The development and diversification of the Open RAN market serve as a lighthouse for companies looking to charter new territories in telecommunications, resulting in a future where open standards and innovative network solutions become the norm rather than the exception.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 211 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $2.8 Billion |
| Forecasted Market Value (USD) by 2030 | $20.9 Billion |
| Compound Annual Growth Rate | 39.4% |
| Regions Covered | Global |
Companies Featured
- Ericsson Made
- Nokia Made
- Samsung Made
- Nec Corporation
- Mavenir Made
- Huawei Technologies Co. Ltd.
- Hewlett Packard Enterprise (Hpe)
- Broadcom
- Fujitsu
- Viavi Solutions
- Juniper Networks
- Amdocs
- Wind River Systems
- Rakuten Group
- Comba Telecom
- Intel
- Radisys (Jio)
- Keysight Technologies
- Maxlinear
- Airspan Networks
- Picocom
- Sivers Semiconductors Ab
- Celona
- Globalstar
- Deepsig
- Cohere Technologies
- Verana Networks
- Digis Squared
- Parallel Wireless
- Baicells Technologies
- Gigatera
For more information about this report visit https://www.researchandmarkets.com/r/srdvi8
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