Open RAN Market Size & Share | Statistics Report 2030

Posted 2024-10-09 08:44:01

The global open RAN market size is expected to reach USD 20.41 billion by 2030, growing at a CAGR of 33.0% from 2023 to 2030, according to a new study conducted by Grand View Research, Inc. An open radio access network (O-RAN or Open RAN) is a concept based on the standardization and interoperability of RAN elements, including open-source software elements and a unified interconnection standard for white-box hardware from various vendors. Increasing adoption of open RAN hardware and software owing to their numerous benefits, such as improved network performance, lower equipment costs, improved security, and network flexibility, is a major factor driving the growth of the market.

In addition, the increasing commercialization of 5G services and demand for O-RAN from mobile operators are further driving the market’s growth. The O-RAN technology and architecture reduce mobile network deployment and maintenance costs by encouraging competition among vendors and streamlining network management. It also reduces the need for costly proprietary hardware and enables operators to source components from multiple vendors. This multi-vendor ecosystem ultimately saves costs and enhances network resiliency. Furthermore, open RAN is transforming the telecommunications industry by incorporating modern cloud and software technologies, ultimately propelling the market's growth.

Gather more insights about the market drivers, restrains and growth of the Global open RAN market

Open RAN Market Report Highlights

The services segment is expected to register the fastest CAGR over the forecast period due to the growing demand for specialized expertise and support in managing & deploying O-RAN infrastructure
The RUsegment will grow at a significant CAGR during the forecast period. In the O-RAN infrastructure, RU handles the physical radio functions and connects to the user equipment
The public cloud segment accounted for the largest market share in 2022. High demand for cloud-native O-RAN architecture, as it provides flexibility, security, and scalability to networks, supports the segment’s growth
The 5G network segment is expected to grow at the highest CAGR over the forecast period. There is an increasing development of virtualized 5G RAN solutions for communication service providers (CSPs) as it offers improved flexibility and operational efficiency to fulfill the demands of their 5G customers
The mmWave segment is expected to grow at the highest CAGR during the forecast period. The growing demand for low-latency and high-speed wireless communications is driving the adoption of mmWave frequencies in the market
Asia Pacific is expected to grow at the highest CAGR from 2023 to 2030 due to the vast presence of O-RAN hardware and software providers and the growing market for IT and telecommunications in countries, such as China India, and Japan

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Open RAN Market Segmentation

Grand View Research has segmented the global open RAN market based on component, unit, deployment, network, frequency, and region:

O-RAN Component Outlook (Revenue, USD Million, 2019 - 2030)