After an evaluation period of 2022–2032, the global market for cloud radio access networks is anticipated to rise at an astounding 22.9% value CAGR, reaching US$ 43.2 billion. A valuation of US$ 5.5 billion has been predicted for this market during FY 2022, according to a recently released report on the subject by Fact. MR. In addition, the market is anticipated to present a dollar opportunity worth US$37.7 billion over the next ten years.
Important conclusions from the market study
The market for cloud radio access networks will more than double from 2022 to 2032, and cloud radio access network solutions will be the most in-demand part, growing at a 20.8% CAGR.
• Centralized cloud radio access networks will experience a CAGR of 20.9% upon adoption.
• The United States will become one of the most opportunistic markets, with revenues of US$4 14.9 billion in 2032.
• From 2022 to 2032, the U.K. will present a monetary opportunity worth US$ 1.6 billion.
• South Korea, Japan, and China will grow at CAGRs of 21.4%, 22.2%, and 22.5%, respectively.
Leading service providers are launching new services with cutting-edge revolutionary technologies by capitalizing on the rapidly digital environment. The following are some noteworthy developments:
• To deliver the 5G 64TRX wireless-based vRAN, a very sophisticated cloud-based radio access network platform, throughout South Korea, Nokia Corporation partnered with SK Telecom in January 2022. Both businesses have successfully finished a proof-of-concept and demonstration of the aforementioned service, enabling them to satisfy the requirements for agile computing.
• Ericsson unveiled its own cloud radio access network technology in October 2020, giving communications service providers the ability to expand the flexibility and adaptability of their networks. The solution completes the portfolio of high-performing, purpose-built baseband products from Ericsson Radio Systems, giving service providers the best option for any deployment.