Open Radio Access Network (Open RAN) Market Size, Growth Status & Latest Application
The Open RAN market is expected to grow from USD 2.8 billion in 2024 to USD 20.9 billion by 2030 at a CAGR of 39.4% during the forecast period. The rapid growth of the Open RAN market is being driven by the need to improve network robustness, decrease dependence on traditional vendors, increase operational flexibility, and reduce costs.
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Key Growth Drivers
Improved Network Robustness and Flexibility: Open RAN solutions allow operators to enhance their networks' robustness and flexibility by reducing their dependence on traditional, single-vendor solutions. This flexibility fosters a competitive ecosystem and drives innovation while lowering costs.
Diverse Offerings and Network Deployments: The market is segmented by offerings (hardware, software, and services), network deployment (public and private), frequency bands (Sub-6GHz and mmWave), and deployment phases (brownfield and greenfield). This diverse range of options supports the adoption of Open RAN across different environments and requirements.
Segment Insights
Sub-6GHz Frequency Band: The Sub-6GHz frequency band is projected to hold the largest market size during the forecast period. This segment is favored due to its extensive coverage capabilities, effective propagation over long distances, and ability to penetrate obstacles, making it ideal for a variety of applications such as mobile broadband, IoT, and industrial use cases. The global availability and regulatory support for Sub-6GHz further strengthen its position in the Open RAN ecosystem.
Brownfield Deployment: The brownfield deployment segment is expected to experience a higher growth rate during the forecast period. This deployment strategy involves integrating Open RAN equipment into existing telecom infrastructures, allowing operators to transition to an open architecture without significant disruptions. This approach encourages competition, ensures interoperability, and allows operators to choose from different equipment suppliers.
Regional Insights: North America
North America is estimated to have the second-largest market size during the forecast period. The region's focus on innovation, flexibility, and cost efficiency in mobile networks contributes to the rapid growth of Open RAN. Key players, such as Dish Network in the US and companies like Bell Canada and Rogers Communications in Canada, are investing in Open RAN to upgrade their networks. This trend enables operators to select the best solutions from multiple vendors, promoting flexibility and cost reduction.
Key Market Players
The major players in the Open RAN market include established companies and innovative start-ups such as 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), and Gigatera (US).
These players adopt various growth strategies, including partnerships, agreements, collaborations, new product launches, and acquisitions to expand their presence in the Open RAN market.
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