Cloud Radio Access Network Market Growth Factor Details for Business Developments 2019 to 2022 | COVID-19 Impact
Market Research Future (MRFR) states in its recently published research report that the global market for cloud radio access 2020 is booming and projected to rise exponentially over the review period, showing a significant market valuation of USD 14 billion and a healthy 21% CAGR over the forecast period (2016-2022).
Drivers and Restraints
Growing network congestion due to the widespread use of smart devices and reduced spectrum supply over the last five years has increased demand for powerful and improved network infrastructure such as C-RAN. Thus, C-RAN technology provides opportunities to reduce the overall cost of ownership and boost network capacity. In addition, steady measures taken by the governments and network operators across various regions for successful 5 G rollout in the coming years are expected to be a major catalyst for C-RAN rollout.
5 G technology is expected to increase the pressure on the existing paradigm of infrastructure and network activity. The architecture of the C-RAN uses the small-cell model, which is seen as a promising approach to meeting the 5 G requirements. As a result, increasing steps to check 5 G in countries like China, South Korea, the U.S., and Japan are expected to accelerate the development of the demand for cloud radio access networks. The architecture of the network is on the verge of transition, due to the rising demand for mobile data requirements and the introduction of 5 G technologies. Also, exponentially increasing network traffic and limited availability of spectrum resources are challenging the existing radio network infrastructure.
Alternatively, the requirement for high bandwidth in the fronthaul link is observed as a significant challenge that is anticipated to impede the cloud radio access network market growth over the forecast period. This could be attained with a fiber optical cable; however, its deployment cost is relatively higher that may prove as an overhead for mobile network providers.
The global cloud radio access network industry is segmented based on components and services.
The global market, based on components, has been segmented into baseband unit (BBU), optical transmission network (OTN), and remote radio head (RRH).
Based on service, the market has been segmented into network service, system integration, and customer service.
The geographical overview of the global market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world Latin America, the Middle East, and Africa.
The increasing popularity of smartphones, tablets, and others have driven the market of Cloud Radio Access Network in the Région Asia-Pacific. The Asia-Pacific area is projected to dominate the forecast period in the cloud radio access network market due to the growing investment in network storage space for cloud radio. The study shows that most Asian mobile operators have already been working on cloud radio access network solutions in the R&D process. The demand for the Cloud Radio Access Network is also projected to expand steadily over the forecast period in regions across Europe and Latin America. Increased coverage, increased number of devices available at a wider variety of price points, and increasing use of music and video streaming services are only a few factors that cause 4 G services to be adopted. This increased demand for better data is likely to boost the deployment of cloud RAN in the region.
The key market players operating in the global market as identified by MRFR are Intel (U.S.), Xilinx, Inc. (U.S.), Agilent Technologies (U.S.), Huawei Technologies Co. Ltd. (China), Alcatel-Lucent S.A. (France), Ericsson (Sweden), International Business Machines Corporation (U.S.), Panasonic Corporation (Japan), NEC Corporation (Japan), Hitachi, Ltd. (Japan), ZTE Corporation (China), among others.
Also Read: http://www.marketwatch.com/story/direct-carrier-billing-market-size-share-competitor-strategies-investment-opportunities-upcoming-challenges-growth-forecast-current-trends-and-analysis-of-covid-19-2021-02-08