It is estimated that the worldwide cloud-based radio market is predicted to grow by a staggering 22.9 percent value CAGR, which will be US$1 43.2 Billion after an evaluation period of 2022 to 2032, according to a new report by Fact.MR, the market is valued at approximately 5.5 Billion, has been predicted for FY 2022. Additionally, it is anticipated that the market will generate a dollar opportunity of USD 37.7 Billion by the end of the decade.
From 2015 to 2021, demands for radio-based cloud access increased at a rate of 37.2 percent, reaching US$4 billion. The massive digitization of business companies has led to the rise of virtual networks with highly varied connectivity frameworks. The dependence on cloud-based, centralized radio access networks is growing to ensure continuous connectivity.
The COVID-19 epidemic has led to a total shift to virtual or remote business models in the last two years. This exposed the weaknesses and inefficiencies of traditional procedures, prompting companies to invest in central connectivity systems. Centralization of information processing that wireless access to the internet has allowed efficient interference management at the spatial scale.
Principal Takeaways of the Market Study
- The global cloud radio access network market will grow by approximately 8x from 2022 to 2032
- Cloud Radio Access Network solutions will be the most sought-after component, growing at a 20.8 percent CAGR.
- In the deployment, cloud centralized radio access networks are expected to achieve an annual CAGR of 20.9 percent.
- S is expected to emerge among the top profitable markets, with a potential of US4 14.9 Billion by 2032.
- K could yield a dollar opportunity of USD 1.6 Billion between 2022 and 2032.
- China, Japan & South Korea to prosper in the coming years at CAGRs of 22.5 percent, 22.2%, and 21.4 percent, respectively.
“As multiple industries embrace advanced connectivity technologies, including 5G network deployment, the need for effectively managing virtual traffic and delivering seamless services have prompted increased cloud radio access network deployment,” remarks an analyst from Fact. MR.
Major service providers are using the rapid digitization of the landscape to offer new services based on modern technology. A few notable changes are as follows:
- Nokia Corporation collaborated with SK Telecom in January 2022 to launch the 5G 64TRX wireless-based VRAN and advanced internet-based radio access that operates all over South Korea. Both companies have successfully demonstrated a proof-of-concept and a demonstration for the service, which allows them to meet the ever-changing computing needs.
- On October 10, 2020, Ericsson announced its own cloud-based radio access platform, which will enable communications service providers to provide more flexibility and adaptability in their network. This solution complements the high-performing specifically-built baseband products that are part of the Ericsson Radio System portfolio, giving service providers a superior solution for any deployment and requirement.