The Cloud RAN Market is expected to grow from USD 681.6 million in 2017 to USD 1,132.3 million by 2022, at a Compound Annual Growth Rate (CAGR) of 10.7%. With the C-RAN technology, mobile communication functions are turned into Virtual Machines (VMs) to be implemented on general-purpose servers and integrated on the cloud. Rapid Capital Expenditure (CAPEX) and Operational Expenditure (OPEX) reduction, and 4G and 5G accessibility are the major factors driving the growth of the C-RAN market.
The North American region is expected to witness the highest CAGR during the forecast period in the C-RAN market. North America, being one of the most technologically advanced regions in the world, is connected with complex networks across all industries in different verticals. The dot-com boom in the early 2000s led to more IT companies and enterprises connecting their geographically dispersed assets using complex networks. This region offers the most innovative and fastest services available in the world through its network infrastructure.
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On the basis technologies, the C-RAN market is broadly classified into virtualization technology and centralization technology. The virtualization technology segment is expected to grow at a higher CAGR as well as have the largest market share during the forecast period. North America has gained a lot of momentum in C-RAN and related technologies, such as virtualization, in the form of Network Function Virtualization (NFV). Along with this, 5G is also said to be gaining a huge traction, which is considered to be a very important application.
North America has a high Long Term Evolution (LTE) subscriber base. Therefore, the demand for high-quality mobile services is high in this region, but as the availability of fiber highly impacts C-RAN deployments, operators are expected to increase their spending on fiber in the future.
On the basis of services, the C-RAN market is segmented into consulting, planning and implementation, maintenance and support, and training. Within these services, the consulting services segment is expected to grow at the highest CAGR during the forecast period. Consulting services can be customized, are easily applicable, and deliver maximum product assurance. Consulting services mainly deal with the critical issues and opportunities related to strategy, marketing, operations, technology, mergers and acquisitions, and corporate finance. They help enterprises increase business efficiency, boost performance, reduce cost, and enhance resilience.
On the basis of deployment venues, the C-RAN market is segmented into large public venues, targeted outdoor urban areas, high-density urban areas, and suburban and rural areas. The large public venues segment is expected to grow at the highest CAGR during the forecast period. Large public venues mainly comprise stadiums, malls, and event spaces. Deploying C-RAN for such locations becomes a mandate, as the fronthaul systems installed at these locations are designed to cater to limited users, but during events, these locations are flooded with large numbers of users.
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