The open radio access network (O-RAN) architecture is a concept proposed by the O-RAN ALLIANCE that aims to provide openness across 5G and all its predecessor network standards.
Research Nester has released a report titled “O-RAN Market – Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global O-RAN market in terms of market segmentation by type, components and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The open radio access network (O-RAN) architecture is a concept proposed by the O-RAN ALLIANCE that aims to provide openness across 5G and all its predecessor network standards. Based on interoperability and standardization of RAN elements, the O-RAN network is aimed to provide greater internet data transfer speeds and further provide high security standards.
The global O-RAN market is anticipated to record a significant CAGR throughout the forecast period, i.e. 2020-2028. Based on type, the market is segmented into AI-empowered embedded intelligence, open interoperable interfaces, white-box & virtualized hardware platforms, and open-source reference implementations. The rising need amongst telecom operators to reduce the cost of 5G deployment is one of the primary factors anticipated to drive the growth of the white-box & virtualized hardware platforms segment, making it the highest revenue generating segment during the forecast period.
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Regionally, the global O-RAN market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, the market in Asia Pacific, which is driven by nations such as China, Philippines, Malaysia and others, is anticipated to hold the largest market share. The growth of the market in the region can be attributed to the increasing number of internet users in the region which is further driving the telecom operators to switch to 5G network.
Increasing Demand for High Speed Internet
The demand for high speed internet has increased manyfold over the last few years. This can be attributed to the increasing number of applications that run on the internet, growing adoption of IoT, advancement in information technology, along with the increasing number of internet users, which is nearly 5 billion at the moment. In addition, the COVID-19 pandemic has also added to the rising demand for high speed internet owing to ongoing work from home working norms along with growing number of people connecting digitally in an attempt to limit the spread of virus.
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5G technology plays a significant role in balancing the surge in demand for high speed internet. Telecom operators are increasingly deploying 5G base stations as it enhances the flow of operations between the modern network infrastructure and its predecessors. O-RAN aims to raise the effectiveness of the network architecture and provide openness to the existing telecom infrastructure. Such factors are anticipated to drive the growth of the global O-RAN market.
However, the concern for the high costs associated with the deployment of O-RAN infrastructure is anticipated to hamper the market growth during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global O-RAN market, which includes company profiling of Nokia Corporation (HEL: NOKIA), Samsung Electronics Co., Ltd. (KRX: 005930), Telefonaktiebolaget LM Ericcson (STO: ERIC-B), Sterlite Technologies Ltd. (NSE: STRTECH), Rakuten Mobile, Inc. (TYO: 4755), IS-Wireless, Inc., VIAVI Solutions Inc. (NASDAQ: VIAV), Parallel Wireless, and HCL Technologies Limited (NSE: HCLTECH). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global O-RAN market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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