What is Biggest Trend Currently Witnessed in C-RAN Market?

The global cloud and centralized radio access network (C-RAN) market was valued at $936.3 million in 2018, and it is predicted to reach a revenue of $2,159.2 million by 2024. According to the estimates of the market research firm, P&S Intelligence, the market will progress at a CAGR of 15.9% from 2019 to 2024 (forecast period).

The market is being propelled by the growing focus of industries on automation, increasing adoption of the 5G technology, rising digitalization rate, soaring use of smartphones, and mushrooming requirement for internet of things (IoT) services and solutions. Many telecom operators are increasingly shifting toward advanced technologies in order to scale up their operations and network capabilities.

Moreover, many service providers are increasingly focusing on transforming RAN in order to cater to the soaring consumer requirement for 5G solutions and services. According to various reports, telecom companies made an investment of more than $140 billion for expanding and upgrading their existing network. Furthermore, the total number of 5G subscribers is predicted to rise from 1.6 billion in 2018 to more than 1.9 billion by the end of 2019.

Additionally, many organizations around the world are increasingly using cloud computing for legacy and new systems. The incorporation of C-RAN solutions mitigates the cost burden on businesses, as these solutions do not need hardware maintenance and installation. Moreover, these solutions enable people to work from different locations and devices on a single platform, which consequently streamlines various business processes.

Depending on deployment, the C-RAN market is divided into indoor and outdoor categories. Thus, the market will grow substantially in the coming years, mainly because of the rising penetration of the 5G technology and rapid digitization all over the world.

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