Demand for mobile broadband services & increase in mobile data traffic booming Radio Access Network Market at 11.3% CAGR

Radio Access Network - Allied Market Research

Radio Access Network – Allied Market Research

Radio Access Network

Radio Access Network

Surge in demand for mobile broadband services, rise in network densification propel the growth of the global radio access network market.

PUNE, MAHARASHTRA, INDIA, September 17, 2020 /EINPresswire.com/ — Rise in demand for mobile broadband services, increase in network densification, and growing mobile data traffic drive the growth of the global radio access network market. However, concerns related to fiber backhaul, and privacy & security concerns hamper the market growth. On the contrary, increase in investments in smart cities is expected to create lucrative opportunities in the industry.

According to the report, the global radio access network industry accounted for $17.80 billion in 2018, and is anticipated to reach $44.78 billion by 2026, registering a CAGR of 11.3% from 2019 to 2026.

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The Small Cell Segment Dominated the Market

Based on product, the small cell segment held the largest share in 2018, contributing to nearly two-thirds of the global radio access network market. In addition, the segment is expected to register the fastest CAGR of 13.4% during the forecast period. Deployment of small cells to increase the capacity of operator networks across an array of locations is anticipated to drive the growth of the segment.

The Residential Segment to Portray Fastest Growth By 2025

Based on technology, the residential segment is expected to register the fastest CAGR of 12.9% during the forecast period. Smart homes are the key factors driving the adoption rate of radio access network and small cell across residential applications. The ability of small cells to cover smaller areas with higher bandwidth boosts the growth of radio access network market in residential application. However, the enterprise segment dominated the global radio access network market in 2018, accounting for nearly three-fifths of the market share. This is owing to rise in digitalization and supportive government initiatives toward digitalizing entire business processes.

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Asia-Pacific to Lead throughout the Forecast Period, North America to Follow

The market across Asia-Pacific held the largest share in 2018, accounting for more than two-fifths of the market. The region is expected to maintain its dominance throughout the forecast period. Rise in government initiatives for building smart cities in Asia-Pacific and upcoming long-term investments in advance technologies drive the growth of the Asia-Pacific radio access network market. In addition, various technological advancements related to automotive, aerospace & defense, manufacturing due to government initiatives such as investment in R&D further propels the growth of the market. On the other hand, LAMEA is expected to manifest the fastest CAGR of 14.5% in between 2018 to 2025. Growth in IoT, rise in demand for advanced technologies in automotive and consumer electronics, and increase in adoption of 5G technologies drive the growth of the LAMEA radio access network market.

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Major Market Players
•SAMSUNG ELECTRONICS CO. LTD.
•Cisco Systems, Inc.
•ZTE Corporation
•NEC Corporation
•Intel Corporation
•Nokia Corporation
•Qualcomm Technologies, Inc.
•Ericsson
•Fujitsu Limited
•Huawei Technologies Co., Ltd.

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Source: EIN Presswire