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(Wireless-NewsWire.Com, September 12, 2024 ) The Open Radio Access Network Market is estimated to be worth USD 2.8 billion in 2024 and USD 20.9 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 39.4% during the forecast period.
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Top Trends in Open RAN Market:
Increased Adoption of 5G: The Open RAN market is gaining momentum as telecom operators accelerate the deployment of 5G networks. Open RAN's flexibility and cost-effectiveness make it a preferred choice for 5G, supporting diverse use cases like enhanced mobile broadband and IoT.
AI and Automation Integration: Open RAN platforms are increasingly incorporating AI and automation for network optimization, self-healing, and dynamic resource allocation. This enhances network performance while reducing the need for manual intervention.
Growing Ecosystem of Vendors: A broader ecosystem of vendors is emerging in the Open RAN space, fostering innovation and competition. This diversity helps reduce vendor lock-in and drives the development of more specialized and advanced RAN components.
Public and Private Sector Support: Governments and industry alliances are supporting the adoption of Open RAN to promote open, secure, and interoperable networks. This includes regulatory frameworks and funding to boost R&D and deployment, particularly in 5G and rural areas.
Enhanced Security Focus: As Open RAN systems are deployed more widely, there is a growing emphasis on ensuring robust cybersecurity. Industry stakeholders are working on standards and protocols to mitigate risks and ensure secure communication across open and interoperable networks.
Edge Computing and IoT Integration: Open RAN's flexibility is enabling deeper integration with edge computing and IoT applications. By bringing computing power closer to the network edge, Open RAN supports low-latency services crucial for IoT, autonomous systems, and real-time data processing.
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The Open RAN (Radio Access Network) market is being transformed due to several key factors reshaping the telecom industry. To improve network robustness, decrease dependence on traditional vendors, and improve operational flexibility while reducing costs, operators are largely adopting open RAN solutions. This market covers type of offerings, network deployment, frequency bands, and deployment phases. Offerings range from essential hardware components like base stations to software managing virtualized functionalities, along with various services such as consultancy and maintenance solutions. Network deployment covers public networks and private networks. Frequency bands include sub-6GHz for broad coverage and mmWave for high-speed, low-latency connections. Deployment phases consist of brownfield integrations into existing networks and greenfield deployments establishing entirely new networks.
Open RAN Market Advantages:
Vendor Diversity and Flexibility: Open RAN allows for interoperability between equipment from different vendors, reducing dependency on single suppliers and enabling operators to choose the best components for their networks, fostering innovation and competition.
Cost Reduction: By enabling the use of off-the-shelf hardware and open interfaces, Open RAN helps lower both capital expenditures (CAPEX) and operating expenses (OPEX) for telecom operators, making network deployment and upgrades more cost-effective.
Faster Innovation: Open RAN promotes an open ecosystem, allowing for faster development and deployment of new technologies and features. This accelerates innovation, particularly in areas such as 5G, IoT, and edge computing.
Increased Network Agility: Open RAN allows for more flexible network architectures, enabling operators to quickly adapt to changing demand, traffic patterns, or technological advancements, which is crucial in dynamic 5G environments.
Improved Rural and Remote Coverage: By lowering deployment costs and allowing for more customizable network solutions, Open RAN supports expanding mobile network coverage to rural and underserved areas, addressing the digital divide.
Enhanced Network Automation: Open RAN systems leverage AI and machine learning to enable automated network management and optimization, improving efficiency, reducing manual intervention, and enhancing overall network performance.
Report Objectives
• To determine, segment, and forecast the Open RAN market based on offering (hardware, software, and services), network deployment, deployment phase, frequency band, and region in terms of value
• To forecast the size of the market segments with respect to 5 main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
• To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
• To study the complete value chain and related industry segments and perform a value chain analysis of the market landscape
• To strategically analyze the macro and micromarkets with respect to individual growth trends, prospects, and contributions to the total market
• To analyze the industry trends, pricing data, patents, and innovations related to the market
• To analyze the opportunities for stakeholders by identifying the high-growth segments of the market
• To profile the key players in the market and comprehensively analyze their market share/ranking and core competencies
• To track and analyze competitive developments, such as mergers & acquisitions, product launches & developments, partnerships, agreements, collaborations, business expansions, and R&D activities
North America is estimated to have the second-largest market size during the forecast period.
North America focuses on innovation, flexibility, and cost efficiency in mobile network setups contributing to rapid growth of Open RAN. This trend enables operators to choose the best solutions from various vendors instead of relying on just one. In the US, Dish Network supports the deployment of open RAN. In Canada, companies like Bell Canada and Rogers Communications are working towards upgradation of their networks using open RAN. Key players in this market include established giants like Ericsson, Nokia, and Samsung and start-ups, such as Mavenir and Parallel Wireless. Open RAN brings benefits like flexible network design, cost reduction through competition, and fostering innovation in the telecom industry.
Market Players
The major vendors covered in the open RAN market are Ericsson (Sweden), Nokia (Finland), Samsung (South Korea), NEC Corporation (Japan), Mavenir (US), Huawei Technologies (China), HPE (US), Broadcom (US), Fujitsu (Japan), Viavi Solutions (US), Juniper Networks (US), Amdocs (US), Wind River Systems (US), Rakuten (Japan), Comba Telecom (China), Intel (US), Radisys (US), Keysight Technologies (US), MaxLinear (US), Airspan Networks (US), Picocom (England), Sivers Semiconductors (Sweden), Celona (US), Globalstar (US), DeepSig (US), Cohere Technologies (US), Verana Networks (US), Digis Squared (UK), Parallel Wireless (US), Baicells Technologies (China), Gigatera (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the open RAN market.
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Mr. Rohan Salgarkar
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sales@marketsandmarkets.com
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