According to the latest market research report “Radio Access Network Market by Communication Infrastructure (Small Cell, Macro Cell, RAN Equipment, DAS), Connectivity Technology (2G, 3G, 4G/LTE, 5G), Deployment Location (Urban, Rural, Residential, Retail Stores), and Geography – Global Forecast to 2023″, the radio access network market is estimated to be valued at USD 9.88 Billion in 2018 and is expected to reach USD 14.99 Billion by 2023, at a CAGR of 8.7% between 2018 and 2023. The market has huge potential across various deployment locations such as urban areas, rural areas, residential areas, public spaces, and retail stores. The major factors driving the radio access network market are increasing mobile data traffic, growing demand for improved network coverage, and increasing adoption of smartphones and technological advancements in the telecommunication industry.
5G to hold largest share of radio access network market by 2023
5G connectivity technology is expected to hold the largest size of the radio access network market by 2023. The market for the 5G would be driven by the proliferating demand for wireless broadband services, which require fast and high-capacity networks. The development of the 5G connectivity technology has been undertaken to address the growing demand for high-speed data communication. This would lead to the need for the related network infrastructure, which would drive the radio access network market in the near future.
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Radio access network market for retail stores to grow at highest CAGR during forecast period
The radio access market for the retail stores deployment is expected to grow at the highest CAGR between 2018 and 2023. The requirement of higher automation, faster processing, and improved customer experience would propel the growth of the market for retail deployment. Moreover, with the introduction of the 5G network, the retail sector is expected to adopt the next level of automation of services and warehouse management.
North America leads radio access network market in terms of value
North America held the largest share of the radio access network market in 2017. The factors such as increasing automation in various sectors, adoption of Internet of Things (IoT), increasing cellular M2M connections, and high demand for on-demand video services would drive the growth of the radio access network market in the region.
The companies profiled in this report are Huawei (China), Ericsson (Sweden), Nokia Networks (Finland), ZTE (China), Samsung (South Korea), NEC (Japan), Cisco (US), Qualcomm (US), Intel (US), Fujitsu (Japan), Juniper Network (US), Hewlett Packard Enterprise (HPE) (US), Corning (US), AT&T (US), Verizon Communications (US), HUBER+SUHNER (Switzerland), CommScope (US), Airspan Networks (US), Qorvo (US), and LG Electronics (South Korea).