Global Open Radio Access Network (O-RAN) Market to Grow with a CAGR of 85% During 2020-2028; Market to Grow on the Back of Growing Demand for High-Speed Internet Services Worldwide
Kenneth Research published a report titled Open Radio Access Network (O-RAN) Market: Global Demand Analysis & Opportunity Outlook 2030 which delivers detailed overview of the global open radio access network (O-RAN) market in terms of market segmentation by component, connectivity technology, deployment location, end-use vertical, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global open radio access network (O-RAN) market is anticipated to grow with a CAGR of 85% over the forecast period, i.e., 2020 – 2028. The market is segmented by components into hardware, software, and services, out of which, the hardware segment is expected to generate the largest revenue of USD 9990 Million by the end of 2028. Moreover, in the year 2020, the segment generated a revenue of USD 101 Million.
The global open radio access network (O-RAN) market is estimated to garner a revenue of USD 22500 Million by the end of 2028, up from a revenue of USD 180 Million in the year 2020. Numerous benefits associated with the adoption of O-RAN by telecom operators, such as greater flexibility to the cellular network operators for operating earlier generations of network technology in the same infrastructure, followed by the availability of support for rigorous 5G applications, are some of the major factors anticipated to drive the growth of the market in the coming years.
Geographically, the global open radio access network (O-RAN) market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Out of these, the market in the Asia Pacific is expected to garner the largest revenue of USD 8200 Million by the end of 2028. Moreover, in the year 2020, the market in the region generated a revenue of USD 70 Million.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Surge in the Number of Internet Users to Drive the Market Growth
The International Telecommunication Union (ITU), in one of its statistics stated that by the end of 2019, 4 Billion people were using the internet worldwide.
Backed by the increasing number of internet users worldwide, the demand for high-speed internet services is also growing. As a result, there is a growing need amongst the telecom operators to increasingly use advanced technology that can help deliver enhanced services to their customers. The O-RAN infrastructure is very flexible in nature and thereby provides great benefits to the telecom operators. Such factors are therefore anticipated to drive the growth of the global open radio access network (O-RAN) market.
However, the complexities with system integration is expected to operate as key restraint to the growth of global open radio access network (O-RAN) market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global open radio access network (O-RAN) market which includes company profiling of Metaswitch Networks, Mavenir, NTT DOCOMO, INC., Sterlite Technologies Limited, Huawei Technologies Co., Ltd., Radisys Corporation, Casa Systems, VIAVI Solutions Inc., Parallel Wireless, Inc., NXP Semiconductors, and others. The report also includes key players who manufacture the radio units for O-RAN, namely Fujitsu Limited, NEC Corporation, Benetel Ltd., Comba Telecom Systems Holdings Ltd., and others. Further, players manufacturing fiber optics, wired & wireless components for O-RAN are ip.access Ltd., Altiostar, NTS Technology, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global open radio access network (O-RAN) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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