Open Radio Access Network (O-RAN) Market Size, Industry Share, In-depth Technology Analysis, Covers Global and Regional, Opportunities Forecast 2022-2031

Kenneth Research released a report on Open Radio Access Network (O-RAN) Market that consists detailed analysis and industry insights for the forecast period, i.e.  2022-2031. On the basis of analysis of the market value and calculation of the CAGR during the forecast period, the latest trends and business opportunities in the market are discussed in the report.

In Q4 2021, U.S. current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, country’s goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches highest at 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point impacting the economic activity in the U.S, pushing consumers to spend less on the products and services and save more.

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On the other hand, the worst is expected to be seen in the European countries, especially during 2022 winters. The energy and gas crises has already started grappling the region, wherein many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage created by Russian-Ukraine conflict.

Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.

The global open radio access network (O-RAN) market is estimated to garner a revenue of USD 22500 Million by the end of 2028, by growing at a CAGR of 85% over the forecast period, i.e., 2020 – 2028. Moreover, in the year 2020, the market registered a value of USD 180 Million. The growth of the market can primarily be attributed to the growing demand for high-speed wireless internet services, backed by the surge in the number of internet users worldwide. According to the statistics by the International Telecommunication Union (ITU), 4 Billion people were using the internet by the end of 2019. Moreover, the demand for different type of online internet services along the utilization of online internet applications, such as cloud-based streaming services, and virtual meeting applications, in the recent years, is also expected to drive the growth of the market in the coming years. Apart from this, the increasing shift towards 5G network connectivity, which is estimated to cover almost half of the world by the end of 2025, is also expected to boost the market growth.

The concept of open radio access network is aimed at benefitting RAN vendors, operators, and 3rd parties that are connected to the RAN infrastructure. Moreover, O-RAN also provides greater flexibility, allowing cellular network operators to operate earlier generations of network technology in the same infrastructure, without adding any additional equipment. Additionally, the infrastructure also supports the requirements of different rigorous 5G applications that demand higher performance, greater capacity and enhanced latency.

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Global Open Radio Access Network (O-RAN) Market Regional Synopsis

Regionally, the global open radio access network (O-RAN) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific is expected to garner the largest revenue of USD 8200 Million by the end of 2028, up from a revenue of USD 70 Million in the year 2020. The growth of the market in the region can primarily be attributed to the growing investments by the telecom operators in expanding their telecom services, backed by the surge in the number of mobile subscribers. For instance, the number of new mobile subscribers in the Asia Pacific is expected to reach close to 190 Million by the end of 2025. The market in the region is further segmented by country into Japan, South Korea, India, and the Rest of Asia Pacific. Out of these, the market in Japan is expected to garner the second-largest revenue of USD 1900 Million by the end of 2028, up from a revenue of USD 60 Million in the year 2020.

Growth Drivers and Challenges Impacting the Growth of the Global Open Radio Access Network (O-RAN) Market

Growth Drivers

  • Low Upfront Cost of Deployment
  • Surge in Adoption of 5G Technology

Challenges

  • Complexities with System Integration

Global O-RAN Market Segmentation Synopsis

The global open radio access network (O-RAN) market is segmented by components into hardware, software, and services. Out of these, the hardware segment is expected to generate the largest revenue of USD 9990 Million by the end of 2028, up from a revenue of USD 101 Million in the year 2020. Based on connectivity technology, the market is segmented into 4G LTE and 5G, out of which, the 5G segment is expected to grow with the highest CAGR of 97% during the forecast period. Moreover, by deployment location, the market is segmented into urban, and rural. Out of these, the urban segment is expected to hold the highest market share by the end of 2028 and also grow with the highest CAGR of 86% during the forecast period. The market is further segmented by end-user vertical into automotive, industrial, public infrastructure, healthcare, aerospace & defense, media & entertainment, financial services, and others. Out of these, the industrial segment is projected to garner the second-largest revenue of USD 6800 Million by the end of 2028, up from a revenue of USD 48 Million in the year 2020.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global O-RAN market that are included in our report are Metaswitch Networks, Mavenir, NTT DOCOMO, INC., Sterlite Technologies Limited, Huawei Technologies Co., Ltd., Radisys Corporation, Casa Systems, VIAVI Solutions Inc., Parallel Wireless, Inc., NXP Semiconductors, and others. The report also includes key players who manufacture the radio units for O-RAN, namely Fujitsu Limited, NEC Corporation, Benetel Ltd., Comba Telecom Systems Holdings Ltd., and others. Further, players manufacturing fiber optics, wired & wireless components for O-RAN are ip.access Ltd., Altiostar, NTS Technology, and others.

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