The global cloud radio access network market is projected to grow at a staggering 22.9% value CAGR, reaching US$ 43.2 Billion, following an assessment period ranging from 2022-2032. As per a newly published report on this industry by Fact.MR, a valuation of US$ 5.5 Billion has been anticipated during FY 2022. Furthermore, the market is expected to yield a dollar opportunity worth US$ 37.7 Billion in the forthcoming decade.
From 2015-2021, demand for cloud radio access networks flourished at a growth rate of 37.2%, concluding at US$ 4 Billion. The extensive digitization of business enterprises is leading to an increased prevalence of virtual networks with highly diversified connectivity frameworks. To ensure continuity, reliance on centralized and cloud-based radio access networks is increasing.
In the past two years, the COVID-19 pandemic encouraged a nearly complete shift towards remote or virtual business models. This helped expose vulnerabilities and inefficiencies in legacy processes, compelling enterprises to invest in centralized connectivity systems. The centralization of information processing afforded by cloud radio access networks has enabled effective interference management at the geographical scale.
"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," comments an analyst at Fact.MR.
Prominent service providers are taking advantage of the rapidly digitizing landscape to introduce new services equipped with cutting-edge innovative technology. Some notable developments are as follows:
These insights are based on a report on Cloud Radio Access Network Market by Fact.MR.
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