5G Radio Access Network Market to expand at a CAGR of 19.50% by 2032
Research Reports
Oct 11, 2023
5G Radio Access Network Market Overview:
The 5G radio access network market size was estimated to be USD 13.2 billion in 2022. The 5G radio access network market is expected to grow from USD 15.8 billion in 2023 to USD 65.6 billion by 2032 at a compound annual growth rate (CAGR) of 19.50%. during the forecast period (2023 – 2032).
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Key Players:
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
Growing demand for mobile broadband services and growing demand for better network coverage are the key factors fueling the market growth. To meet the growing need for high-speed Internet and wide network coverage for several future end-use applications such as autonomous driving, augmented reality and telemedicine, network operators are working to expand network coverage. High network availability is required for applications such as autonomous driving, as well as high speed and low latency of less than 1 millisecond. The initial deployment of LTE networks was based on homogeneous networks consisting of macro base stations providing basic coverage.
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Nowadays, however, the idea of ??heterogeneous networks, which can be used to optimize performance for uneven distribution of users or traffic, is gaining popularity. By the end of 2017, there were 4.3 billion mobile broadband subscriptions worldwide, an average increase of more than 20% per year over the past six years. The widespread use of mobile broadband service was made possible by the low price. In rich economies, the average price of a mobile broadband subscription was 0.7 percent of GDP (gross national economic income) per capita, while in less developed countries it was 4.3 percent. As a result, efforts are being made to expand network connections through the proliferation of broadband networks. This is expected to increase the number of 5G mobile broadband customers, encouraging market expansion into radio access networks. Thus, increasing the revenue of the 5G wireless access network market.
Market Segmentation:
Market segmentation based on 5G radio access network component includes hardware, software, and services. In 2022, the device category dominated the entire market. 5G radio access network market segmentation based on architecture type includes CRAN, ORAN and VRAN. In 2022, the CRAN segment held the majority of the market share. 5G radio access network market segmentation based on deployment includes indoor and outdoor. In 2022, the outdoor category should dominate. It will grow at a CAGR of 16.8% during the forecast period. Segmentation of the 5G radio access network market based on end users includes telecom operators and enterprises. In 2022, the telecommunications operator category is expected to dominate. By region, the study provides a market overview of North America, Europe, Asia Pacific and Rest of the World. In 2022, Asia Pacific dominated the market. The expansion is due to a number of companies including Samsung and Huawei Technologies Co., Ltd. presence and the large investment that would have to go to set up automated factories in the region.
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Additionally, significant investments in key countries to acquire 5G spectrum, such as South Korea, China, India, Australia and Japan, are expected to boost regional growth. Additionally, China’s 5G radio access network market held the largest market share and India’s 5G radio access network market was the fastest growing market in Asia Pacific.
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