The Cloud RAN (C-RAN) market size is expected to grow from USD 681.6 Million in 2017 to USD 1,132.3 Million by 2022, at a CAGR of 10.7%, according a new market research report by MarketsandMarkets.
The consulting services segment is expected to be the largest contributor to the global C-RAN market during the forecast period. Consulting services are used to provide an enhanced strategic outlook, improve performance efficiency, and transform enterprise business operations.
Consulting services help in lowering risks, reducing complexities, and raising the Return on Investment (RoI). These services can be customized, are easily applicable, and deliver maximum product assurance.
teh C-RAN deployments are mainly targeted for outdoor urban areas, which have large numbers of users. Such locations include crowded streets, traffic signals, and areas with a large number of residential or commercial buildings. In order to enhance the existing infrastructure (transforming from Long Term Evolution (LTE) to 5G) by reducing the CAPEX, the deployment of the centralization technology is a major step taken by telecom operators.
North America is expected to have the largest market share during the forecast period. It has the most competitive and rapidly changing C-RAN market in the world. North America, among all the regions, has shown the maximum adoption of C-RAN solutions.
Being one of the most technologically advanced regions in the world, North America is connected with complex networks across all industries in different verticals. The US and Canada are expected to extensively implement C-RAN solutions.