PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1397228
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1397228
The value of the cloud/centralized radio access network (C-RAN) market stood at USD 18.8 billion in 2023, and this number is projected to reach USD 101.7 billion by 2030, advancing at a CAGR of 27.3% during the projection period. This growth of the market can be credited to the prompting need for long-term evolution services, the surging usage of the 5G network, the rising focus on automation, the rising digitalization rate, the mounting need for Internet of Things solutions, and the growing smartphone acceptance.
in 2023, on the basis of deployment, the outdoor category dominates the C-RAN market, accounting for a higher revenue share, of 70%, and it is also projected to witness significant development during the projection period. This is mainly because this tech provides superior treatment in high-constancy network areas, like malls, stadiums, and parking lots.
Additionally, it provides notable benefits in lessening power costs, prominent network resilience, and strong allocation of network resources with time.
On the basis of components, the infrastructure category grips the largest income share in the market. This is mainly because of the high investments by telecom operatives in 5G, 4G, and LTE techs and the rising deployment of C-RAN for several radio protocol assistance.
Furthermore, the investment made in the infrastructure category is very costly and resource-intensive, but it is vital to an area's financial growth and propensity.
In 2023, on the basis of network type, the LTE & 5G category leads the industry, holding the largest share, of approximately 60%. This can be credited to the massive development in data traffic and remarkably high-power utilization by the current network architecture. LTE & 5G networks are low-latency and high-speed networks, and they are more efficient for C-RAN operations.
On the basis of application, the targeted outdoor urban areas category is estimated to witness the highest development rate during the projection period. This development of the market can be credited to numerous key reasons C-RAN arrangement in targeted outdoor urban areas offers the potential for remarkably supported performance effectiveness.
C-RAN technology offers faster data rates and shorter latency, in line with users' expectations of being able to connect seamlessly, when it comes to cities that are subjected to heavy data requirements.
On the basis of region, the APAC C-RAN industry is projected to experience the highest development rate, of 28%, during the projection period. With the appropriate and perpetual leap-up in mobile data traffic, APAC is projected to grip extraordinary potential in terms of C-RAN arrangement, as the region is experiencing major investment in the market and high acceptance of NFV and SDN technologies.