According to the Market Statsville Group (MSG), the global virtualized radio access network (vRAN) market size is expected to grow at a CAGR of 20.5% from 2022 to 2030.
To perform baseband operations in software, operators can use a virtualized radio access network (vRAN). One of the key benefits of virtualizing the radio access network (RAN) is that RAN functions can now be run on regular servers rather than dedicated hardware. This is accomplished by applying virtualization concepts to RAN, which is typically a smaller component of a broader network function virtualization (NFV) effort. The growing demand for 5G technology in the telecommunication and IT sector has accelerated the virtualized radio access network market demand. Further, the demand for uninterrupted network supply and increasing internet users worldwide has increased the need for high-speed data networking, thereby augmenting the demand for the Vran market over the forecast period.
Furthermore, VRAN technology will pave the way for 5G technology as there is an increasing demand for multipurpose applications to be provided from a single source. Applications like Virtual Reality (VR), autonomous vehicles, smart stadiums, and cloud robots are expanding right now, increasing network demand because they need extremely low latency and specialized processing. Additionally, the mobile core network needs to be close to users for efficient operation. As a result, the demand for vRAN is increasing.
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COVID–19 Impact on the Global Virtualized Radio Access Network (vRAN) Market
Due to the coronavirus (COVID-19) outbreak, events have frequently been canceled or delayed in the virtualized RAN (vRAN) industry. For instance, the COVID-19 epidemic caused the FCC (Federal Communications Commission) Summit, which was intended to focus on 5G and the vRAN technology and was initially planned for March 26, 2020, to be postponed. As China recovered from its initial conflicts with COVID-19, several mobile network operators (MNOs) have already announced an acceleration of 5G deployment and strengthened supply chains. Due in large part to the involvement of numerous industrial companies in the standardization effort, 5G standards are more likely to incorporate industrial requirements than earlier generations of cellular technology. These use cases will result in value in the form of cost and time savings, new revenue streams, more “intelligent” goods, and improved client experiences. Taking advantage of vRAN along with 5G’s long-term outlook, numerous businesses and industrial organizations are conducting tests and proofs of concept to confirm the technology’s appropriateness for particular use cases.
Global Virtualized Radio Access Network (vRAN) Market Dynamics
Drivers: Increasing Cloud Computing Technology
As computing workloads shift to the cloud, whether through the use of public cloud services provided by vendors or private clouds created by businesses themselves, a sizeable portion of all IT spending is now going toward building the infrastructure to support cloud computing. This transition picked up steam in 2020 and 2021 as companies sped up their preparations for digital transformation in response to the epidemic. The lockdowns throughout the epidemic taught businesses how crucial it was to allow personnel access to computing infrastructure, apps, and data from any location. Thereby spending on the cloud is expanding in scope for the vRAN market.
Restraints: Lack of Proper Infrastructure in Emerging Economies
The vRAN market is anticipated to be constrained by mobile networks’ worsening backhaul connectivity. In telecommunications services, backhaul connectivity is frequently used to transport a signal from a remote site or network to another site, typically for a central one. Poor mobile network connectivity in small cell networks has an adverse effect on the speed of data delivery. As small cells are used for network connectivity, there is a rising need for data management. Poor data management is mostly due to increased data flow across small cells, raising data security concerns.
Opportunities: Rising Investment in 5G Technology
For enterprise customers’ various 5G requirements, vRAN solutions promise increased network resiliency and usage, streamlined network routing, and better-optimized network topology. vRAN R&D efforts and product innovation are projected to increase as a result of the investment in 5G infrastructure. For instance, in August 2022, Reliance Industries Ltd announced an investment of around USD 25 thousand crores (? 2 lakh crore) to start 5G services in India. In addition, in January 2021, The UK government unveiled a USD 31.87 million (£28 million) investment in nine national initiatives that would test cutting-edge 5G network applications. In addition to enhancing tourist experiences at the O2 Arena, MK Dons stadium, and the Eden Project, this will involve testing 5G-powered cargo ports.
Scope of the Global Virtualized Radio Access Network (vRAN) Market
The study categorizes the virtualized radio access network (vRAN) market based on type, connectivity, application, and end-users at the regional and global levels.
By Type Outlook (Sales, USD Billion, 2017–2030)
- Radio Units
- Virtualized Baseband Units (vBBUs)
By Connectivity Outlook (Sales, USD Billion, 2017–2030)
By Application Outlook (Sales, USD Billion, 2017–2030)
- Dense Area Urban
- Public Venue Environments
By End-Users Outlook (Sales, USD Billion, 2017–2030)
- Government & Defense
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By Region Outlook (Sales, USD Billion, 2017–2030)
- North America
- The Netherlands
- Czech Republic
- Rest of Europe
- Asia Pacific
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Northern Africa
- Rest of MEA
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5G segment accounts for the highest CAGR during the forecast period by technology
Based on the technology, the market is bifurcated into 2G, 3G, 4G, and 5G. The 5G segment accounts for the highest CAGR during the forecast period. The virtualized RAN (vRAN) market is seeing increased investment due to 5G networks. In order to design and implement plans that include massive volumes of data, edge computing is, therefore, a popular technical term among communication service providers (CSPs) and businesses. Further, to innovate in the virtualized RAN space, Intel, a U.S. multinational corporation and technology company, is stepping up its efforts to explore beyond the traditional open systems interconnection (OSI) architecture. Businesses are offering multi-vendor virtualization in the virtualized RAN (vRAN) market to achieve this goal and standardize protocols and software across the sector.
North America is projected to account for the highest market share by Region
Based on the regions, the global virtualized radio access network (vRAN) market has been segmented across North America, Asia–Pacific, Europe, South America, and the Middle East & Africa. In 2022, North America was expected to witness the highest market share in the global virtualized radio access network (vRAN) market. Over the past few years, open vRAN has benefited from political support in the US, as it has in many other nations. Although the transition to open vRAN would have most likely taken place regardless, outside events often help to speed up adoption. Several market leaders and new entrants are actively promoting open vRAN, but RAN incumbents are now putting vRAN services in their portfolios and opening theirs. The economics of Open vRAN are unique and give service providers the chance to supply services using infrastructure that might result in a lower total cost of ownership (TCO).
Competitive Landscape – Global Virtualized Radio Access Network (vRAN) Market
The virtualized radio access network (vRAN) market is extremely cutthroat, and significant competitors in the sector are using tactics including product development, collaborations, acquisitions, agreements, and growth to bolster their market positions. Most sector businesses focus on growing their operations worldwide and cultivating long-lasting partnerships.
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Major key players in the global virtualized radio access network (vRAN) market are:
- Cisco Systems, Inc.
- Fujitsu Limited
- Huawei Technologies co. Ltd
- NEC Corporation
- Samsung Electronics Co., Ltd.
- Verizon Communications
- Ericsson Inc.
- Nokia Corporation
- Red Hat, Inc
- Hewlett Packard Enterprise Development LP
- Intel Corporation
- Juniper Networks Inc.
- Microchip Technology Inc.
- MTI Mobile
- Qorvo, Inc.
- Mavenir Systems
- Qualcomm Technologies, Inc.
- Quortus Limited
- Radisys Corporation
- ZTE Corporation
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