5G Radio Access Network Market (By Component; Hardware, Software, Services; By Architecture Type; By Deployment; By End-user) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2023-2032

The global 5G radio access network market size was estimated at around USD 12.5 billion in 2022 and it is projected to hit around USD 67.67 billion by 2032, growing at a CAGR of 18.4% from 2023 to 2032.

Key Pointers

• The hardware segment dominated the overall market, gaining a market share of more than 62.02% in 2022 and witnessing a CAGR of 16.27% during the forecast period.
• The services segment is anticipated to grow at a considerable CAGR of 22.54% throughout the forecast period. 
• In terms of architecture type, the cloud radio access network (CRAN) segment dominated the overall market, gaining a market share of more than 36.05% in 2022 and witnessing a CAGR of 10.41% during the forecast period.
• The Open RAN (ORAN) is expected to grow at the highest CAGR of 28.57% during the forecast period. 
• In terms of deployment, the outdoor segment is expected to dominate in 2022, gaining a market share of more than 60.06%. It is expected to grow at a CAGR of 16.89% throughout the forecast period. 
• The indoor segment is anticipated to grow at a considerable CAGR of 20.53% throughout the forecast period.
• In terms of end-user, the telecom operators' 5G RAN market is expected to dominate in 2022, gaining a market share of more than 82.07%. It is expected to grow at a CAGR of 16.02% throughout the forecast period. 
• The enterprise segment is anticipated to grow at a considerable CAGR of 26.14% during the forecast period.
• The Asia Pacific dominates the market and grow at a CAGR of 20.33% from 2023 to 2030. 
• North America gained a significant market share of around 25.08% in 2022.

Report Scope of the 5G Radio Access Network Market

The increasing demand for low latency bandwidth connection and increased focus on research and development activities by key organizations are some of the factors fueling the market growth. Moreover, the robust deployment of a 5G radio access network (RAN) with several small cells and macrocell base stations worldwide is propelling the growth of the market during the forecast period.

The trend of deploying centralized RAN and virtual RAN (VRAN) is rapidly increasing among mobile network operators (MNOs) and network service providers to reduce overall infrastructure costs and network complexities. Furthermore, the RAN enables enterprises and mobile network operators utilizing private 4G or private 5G to offer network slicing solutions assigning capacities to individual enterprises to split network usage within a public mobile network. The industry is expanding at a tremendous growth rate owing to technological innovations coupled with users’ inclination towards 5G RAN solutions.

Radio access networks comprise wireless telecommunications systems, including antennas and base stations, to provide high performing 5G network solutions. It utilizes 5G radio frequency division duplex (FDD) frequencies to connect individual devices through radio connections providing wireless connectivity.

RAN encompasses different types, viz. evolved universal terrestrial RAN (E-UTRAN), Universal Radio Access Network (UTRAN), Virtualized Radio Access Network (VRAN), and Open Radio Access Network (ORAN), among others. The RAN base stations within a public mobile network are connected to a public mobile core network through microwave or fiber cables to aggregate signals. The latest RANs offer controllers utilizing software-defined networks (SDN), allowing them to control cellular device capacity and coverage.

This high market size is attributable to the growing deployment of private 5G radio access networks and core equipment across several use cases. These use cases include smart cities, remote surgeries, enterprises, wireless cameras, industrial robotics, and autonomous vehicles. Rapidly evolving RAN technologies have enabled several key telecom operators and end-use customers to deploy the virtualized network to diminish overall operating expenses.

Also, several market players such as Qualcomm Technologies, Inc., Nokia, Verizon, and Cisco Systems, Inc., among others, are significantly focused on providing RAN solutions for private 5G networks, which help clients to transform their existing legacy network infrastructure into the next generation 5G network.

For instance, in October 2022, Qualcomm Technologies, Inc. announced a collaboration with Vodafone Group to develop and integrate next-generation 5G radio units and distributed units with massive multiple-input multiple-output capabilities. The companies are also developing 5G ORAN infrastructure solutions powered by Qualcomm QRU100 5G radio access network platform and Qualcomm X100 5G RAN accelerator card.

5G Radio Access Network Market Segmentations:

By Component

• Hardware
  • Antennas
    • MIMO
    • Beamforming
    • Others (Monopole, Dipole, Microstrip, Patch Antennas)
  • Radio Unit
  • Baseband Units
• Software
• Services
  • Managed Services
  • Consulting Services
  • Professional Services
  • Planning & Design Services
  • Integration & Validation Services
  • Deployment Services
  • Optimization and Performance Improvement Services

By Architecture Type

• CRAN
• ORAN
• VRAN

By Deployment

• Indoor
• Outdoor

By End-users

• Telecom Operators
• Enterprises