Global C-RAN Market to Experience Noteworthy Growth with Rising Interest in 5G Network Technologies
In the modern world, there is an increasing need for Internet connectivity and faster data speeds. The rising reliance on the Internet for numerous activities has resulted in an increased need for faster and more dependable Internet connections. This is where the C-RAN solution comes in.
The C-RAN market has experienced rapid expansion in recent years. The C-RAN is a radio access network architecture based on centralized cloud computing that allows collaborative radio technologies and real-time virtualization. It is an expansion of the current wireless communication system that uses the most modern common public radio interface (CPRI) standard, millimeter wave (MM) wave transmission for long-distance signals, and coarse or dense wavelength division multiplexing technology. C-RANs are critical for the future growth of wireless technologies such as the Internet of Things and 5G. C-RAN development will be essential to the transition from LTE to 5G networks since it will simplify deployment and scalability. In addition, it provides a realistic, inexpensive option for accommodating more users. The C-RAN market is continuously evolving with new technologies and advancements. The rising usage of virtualization and cloud-native architectures in the telecommunications sector has driven the development of C-RAN.
Newest Insights in the C-RAN Market
As per a report by Research Dive, the global C-RAN market is expected to grow at a CAGR of 23.4% and generate revenue of $85,899.7 million by 2031. The primary factors including rapidly expanding C-RAN technology innovation, an upsurge in internet users, and a spike in network connectivity to deploy IoT are all contributing to the market growth. However, strict government regulations due to an increase in cyberattacks are expected to hinder the market expansion.
The C-RAN market in North America is expected to remain dominant in the upcoming years. The region's high revenue in 2021 was driven by the increased use of autonomous vehicles and the Internet of Things as a result of the deployment of 5G technologies. This has led to an increase in demand for centralized and virtualized radio access network (C-RAN) solutions.
How are Market Players Responding to the Rising Demand for C-RAN?
Market players are responding to the rising demand for C-RAN by investing in R&D to create more efficient and advanced solutions. They are also looking into collaborations and partnerships to use their knowledge and resources.
In addition, market players are increasingly focusing on strategic partnerships and collaborations with other players in the industry to leverage their strengths and expand their reach. Some of the foremost players in the C-RAN market are Nokia, ZTE Corporation., Intel Corporation, Fujitsu, Telefonaktiebolaget LM Ericsson, Huawei Technologies Co., Ltd., Cisco Systems, Inc., ASOCS Ltd., NEC Corporation, Samsung, and others. These players are focused on implementing strategies such as mergers & acquisitions, novel developments, collaborations, and partnerships to reach a leading position in the global C-RAN market.
- In March 2023, Virgin Media O2, a London-based British media and communications company, announced that the organization would conduct trials for Ericsson's radio access network product as a component of the broader network expansion and deployment arrangement.
- In March 2021, Nokia, a Finnish multinational corporation engaged in telecommunications, information technology, and consumer electronics, announced a collaboration with Google Cloud to create brand-new 5G radio technologies that are cloud-based. The two companies will work together to develop joint solutions that combine Nokia's Open RAN, Radio Access Network (RAN), Cloud RAN (vRAN), and edge cloud technologies with Google's edge computing infrastructure and application ecosystem. The partnership will result in the creation of solutions and use cases to address crucial 5G scenarios for businesses throughout the world.
- In October 2020, Ericsson, a Swedish global telecommunications and networking firm, launched Cloud Radio Access Network (RAN), a new solution that would allow communications service providers to give their networks more adaptability and diversity.
COVID-19 Impact on the Global C-RAN Market
The COVID-19 pandemic had a moderate impact on the global C-RAN market. During the pandemic, in order to stop the virus's spread, a number of precautions were implemented, including lockdown and social isolation. The COVID-19 pandemic hampered the development of 5G infrastructure. Factory closures brought on by the pandemic have made it more difficult to produce the equipment required to build the 5G infrastructure. However, many people choose to stay at home during the COVID-19 shutdown, and working from home has now become the new standard. With a surge in the number of company operations moving online and an enormous rise in the number of people working from home, C-RAN architecture is projected to gain traction in the post-pandemic period.
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