The global Open RAN market is projected to grow from USD 1.1 billion in 2022 to USD 15.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 70.5%

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Jan 04, 2023, 08:50 ET

NEW YORK, Jan. 4, 2023 /PRNewswire/ --

The global Open RAN market is projected to grow from USD 1.1 billion in 2022 to USD 15.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 70.5% during the forecast period. Advantages such as solution flexibility, reduced costs and supply chain diversity is driving the Open RAN market growth.

Read the full report: https://www.reportlinker.com/p06377399/?utm_source=PRN

Services segment is estimated to account for a higher CAGR during the forecast period
The adoption of Open RAN services is expected to increase among service providers and enterprises with the increasing adoption of Open RAN solutions.The Open RAN market has been segmented based on services into consulting, deployment and implementation, and support and maintenance.

These services assist end users in reducing costs, lowering operational costs, increasing overall revenues, and improving business performance.

Sub-6GHz segment is expected to account for a larger market share during the forecast period
Businesses are already on the way to Sub-6GHz 5G.Huawei proposed bands below 6 GHz as the primary working frequency of 5G.

Qualcomm announced a 5G New Radio model system and trial platform.The 5G NR prototype system operates in the Sub-6GHz spectrum bands and is utilized to showcase the companyâ€™s 5G designs to efficiently achieve multigigabit per second data rates and low latency.

Mobile operators will continue to rely heavily on the Sub-6GHz spectrum. This is because it will take time for mmWave technology to be fully developed and harmonize the availability of the new spectrum bands.

Public segment to account for the largest market share during the forecast period
Public 5G wireless networks provide the same level of service and security to all clients.But the security risk is higher in case of public access and comes from the public sharing the network.

Also, when the network is busy, it can impact all users at the same time.The spectrum is usually owned by a mobile network operator (MNO), and in the public 5G network, the service and management are the responsibility of the MNO.

The public 5G network is intended for use by the public, with tens of millions of subscribers on a given nationwide network.

Among regions, Asia Pacific recorded the highest CAGR during the forecast period
Asia Pacific constitutes thriving economies, such as Singapore, Japan, China, India, and Australia, which are expected to register high growth rates in the Open RAN market.Asia Pacific houses many large countries with a wide population spread over remote locations and wide geographical areas.

Major leading companies such as Rakuten Mobile, NTT Docomo, KDDI, Reliance Jio, Bharti Airtel, Vodafone and more are involving and contributing to Open RAN technology in Asia Pacific region which is driving the growth of the market.

Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the Open RAN market.
â€¢ By Company: Tier I: 35%, Tier II: 40%, and Tier III: 25%
â€¢ By Designation: C-Level Executives: 60% and Managers: 40%
â€¢ By Region: North America: 30%, Europe: 35%, Asia Pacific: 25%, Middle East and Africa: 5%, and Latin America: 5%
The report includes the study of key players offering Open RAN solutions and services.It profiles major vendors in the global Open RAN market.

The major vendors in the global Open RAN market include Ericsson (Sweden), Nokia (Finland), Samsung (South Korea), NEC Corporation (Japan), Hewlett Packard Enterprise (US), VMware (US), Huawei (China), AT&T (US), Fujitsu (Japan), IBM (US), Orange (France), Airspan Networks (US), Mavenir (US), CommScope (US), Viavi Solutions (US), Amdocs (US), Renesas (Japan), MTN Group (South Africa), Entel (Chile), Comba Telecom (China), KDDI (Japan), SingTel (Singapore), TIM (Italy), Telefonica (Spain), Sivers Semiconductors (Sweden), NXP Semiconductors (Netherlands), Picocom (UK), Etisalat (UAE), Mobily (Saudi Arabia), XCOM Labs (US), DeepSig (US), ZTE (China), Celona (US), LIME Microsystems (UK), Verana Networks (US), Microamp Solutions (Poland).

Research Coverage
The market study covers the Open RAN market across segments.It aims at estimating the market size and the growth potential of this market across segments, such as component, type, frequency, radio interface, access, network and region.

It includes an in-depth competitive analysis of the marketâ€™s key players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Open RAN market and its subsegments.It would help stakeholders understand the competitive landscape and gain better insights to position their business and plan suitable go-to-market strategies.

It also helps stakeholders understand the marketâ€™s pulse and provides information on key market drivers, restraints, challenges, and opportunities.

Read the full report: https://www.reportlinker.com/p06377399/?utm_source=PRN

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