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Cloud Radio Access Network (C-RAN) Market Size
- Report ID: GMI6327
- Published Date: Jul 2023
- Report Format: PDF
Cloud Radio Access Network (C-RAN) Market Size
Cloud Radio Access Network (C-RAN) Market size was valued at USD 9.6 billion in 2022 and is anticipated to grow at a CAGR of over 20% between 2023 and 2032, driven by the accelerating 5G deployment worldwide.
According to the Ookla 5G Map, as of November 30, 2022, 128 countries had 127,509 5G deployments. The number of deployments stood at 85,602 in 112 countries in 2021. The global rollout of 5G networks is a major driver for CRAN adoption as Cloud-RAN architecture allows for more efficient 5G network deployment, enhancing capacity, speed, and coverage. Radio access network helps improve the flexibility of 5G networks by making it easier to add new features and services.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Cloud Radio Access Network (C-RAN) Market Size in 2022: | USD 9.6 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 20% |
| 2032 Value Projection: | USD 55.5 Billion |
| Historical Data for: | 2018 – 2022 |
| No. of Pages: | 300 |
| Tables, Charts & Figures: | 371 |
| Segments covered: | Component, Network Type, Technology, Deployment Model, End-Use |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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It also reduces the number of base stations that need to be deployed, thus offering significant cost savings on 5G deployment. Owing to these benefits, telecom service providers globally are adopting C-RAN solutions and services, fueling market growth. For instance, Verizon, an American wireless network operator, is deploying C-RAN in its 5G network, which is expected to cover 50 million people by 2024.
The growth of the Internet of Things (IoT) and edge computing applications has driven the need for more distributed and flexible network architectures like CRAN. Companies across all verticals are focusing on leveraging connected technologies to make the most of available growth opportunities. For instance, one of the largest IoT adoption initiatives in the logistics/supply chain vertical was unveiled by the German firm Hapag-Lloyd in April 2022. Hapag-Lloyd is a market leader in ocean shipping. The business intends to add track-and-trace technology to its entire dry container fleet across the globe.
The company wants to give its customers much better updates on the whereabouts and condition of their products, as well as a more precise estimated arrival time. C-RAN facilitates Mobile Edge Computing, enabling low-latency services and real-time data processing at the network edge, thus, favoring cloud radio access network market growth. However, C-RAN's centralized architecture demands robust and high-capacity backhaul networks to ensure smooth data transmission between remote radio units and centralized processing units. Besides, the lack of standardized interfaces and protocols across different vendors' CRAN solutions can lead to interoperability challenges and vendor lock-in, which may impact product adoption rates over the coming years.
Frequently Asked Questions (FAQ) :
Cloud Radio Access Network (C-RAN) Market Scope
