PUBLISHER: Grand View Research | PRODUCT CODE: 1268740
PUBLISHER: Grand View Research | PRODUCT CODE: 1268740
The global C-RAN market size is expected to reach USD 89.29 billion by 2030, expanding at a compound annual growth rate (CAGR) of 27.1% from 2023 to 2030, according to a new study by Grand View Research, Inc. The rapid technological advancement in visual and wireless communication systems is expected to drive the C-RAN (Cloud Radio Access Network) market growth. In addition, the use of C-RAN has operational benefits such as reduced power consumption, ease of operation and network performance, spectrum efficiency, resource integration, and reuse of infrastructure, which is expected to boost the market demand.
Furthermore, C-RAN is expected to reduce the operating cost and infrastructure burden caused due to the rapid deployment of 5G networks around the world. Similarly, as the growing trend among telecom providers is to provide 5G at high speed and low latency, they are predicted to rely significantly on C-RAN to handle growing traffic volumes and ensure appropriate functionality of the system. This, in turn, is anticipated to drive market growth over the forecast period.
Moreover, during the COVID-19 pandemic, the lockdown regulations around the world increased the load on network systems as people turned to the internet for entertainment, work, and communication purposes. For instance, in 2021, according to the International Telecommunication Union (ITU), internet users grew to 4.9 billion during the pandemic. It is also estimated that the demand for C-RAN increased during the pandemic as enterprises were looking to ensure system operations remain live, sustain growing device connections on the network, and safeguard network data to keep up with the high user traffic.