RAN Intelligent Controller Market Expected to Reach $14 Billion by 2032 | Top Players such as – NEC, Juniper and Vmware
Increasing digitization and the growing need to manage network traffic are driving market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, August 31, 2023/EINPresswire.com/ — Allied Market Research published a new report, titled, ” The RAN Intelligent Controller Market Expected to Reach $14 Billion by 2032 | Top Players such as – NEC, Juniper and Vmware.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global ran intelligent controller market was valued at USD 142.7 million in 2022, and is projected to reach USD 14 billion by 2032, growing at a CAGR of 58.6% from 2023 to 2032.
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The factors such as rise in demand for network enhancement, collaboration across ecosystems, and open interfaces primarily drive the growth of the RAN intelligent controller market. However, the difficulties in implementation and integration hamper market growth to some extent. Moreover, a rise in demand for enhanced network management is expected to provide lucrative opportunities for market expansion during the forecast period.
The RAN intelligent controller market is segmented on the basis of component, function, technology, application, and region. On the basis of component, it is bifurcated into platform and services. On the basis of function, it is segregated into Non-Real-Time-RAN Intelligent Controller (Non-RT RIC) and Near-Real-Time-RAN Intelligent Controller (Near-RT RIC). On the basis of technology, it is fragmented into 4G and 5G. On the basis of application, it is categorized into rApp and xApp. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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By component, the platform segment held the major share in 2022, garnering more than two-thirds of the global RAN intelligent controller market revenue, owing to RIC platform which enables operators to provide specialized services like low-latency apps for autonomous vehicles or high-bandwidth services for video streaming. The services segment would also showcase the fastest CAGR of 61.9% during the forecast period, owing to growing demand for network optimization and performance improvement is one of the main growth factors for the RIC service. Operators must effectively manage their radio access networks (RANs) as mobile data traffic grows in order to provide customers with a higher-quality service.
By technology, the 4G segment contributed to the highest share in 2022, accounting more than three-fourths of the global RAN intelligent controller market revenue, owing to radio access network management and optimization grow more difficult as 4G networks develop and offer more sophisticated services and applications. By giving operators centralized control and intelligence over diverse RAN functions, the 4G RIC reduces complexity. The 5G segment would also showcase the fastest CAGR of 66.3% throughout the forecast period, owing to 5G RIC gives operators the ability to optimally manage resources, improve network performance, and deliver the various requirements of various 5G services and applications.
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By region, North America garnered the highest share in 2022, holding more than one-third of the global RAN intelligent controller market revenue in 2022, owing to the advancements in 5G technology, the expansion of mobile networks, the adoption of Internet of Things (IoT) devices, and the need for efficient network management. The Asia-Pacific region would also portray the fastest CAGR of 63.3% during the forecast period, and is projected to retain its dominance by 2032. Owing to developing countries such as China and India, the adaption of smart technologies such as AI and ML escalates the demand for RAN intelligent controller.
The global RAN intelligent controller industry is dominated by key players such as Telefonaktiebolaget Lm Ericsson, Nokia, Huawei Technologies Co., Ltd., Intel Corporation, Samsung, ZTE Corporation., Cisco Systems, Inc., NEC Corporation, Juniper Networks, Inc., Vmware, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the RAN intelligent controller industry.
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Covid-19 Scenario-
● The pandemic had delayed network deployments and investments, causing disruptions in the telecom sector, thereby delaying the implementation of new RAN infrastructure.
● The pandemic had increased demand for dependable and fast internet connectivity since individuals were being forced to work, study, and socialize from home. For remote work, online learning, video conferencing, and entertainment streaming, consumers today rely largely on their internet connections.
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