Global O-RAN Market Outlook 2028
Open radio access network (O-RAN) is a communications concept based on standardization and interoperability of various RAN units or elements including a unified interconnection standard for the white-box hardware and open-source software's from different vendors. It provides various advantages such as reduced capital expenditure and operational expenditure, lower deployment time, upgrade options, no threat of vendor lock-in and others. The global O-RAN market is estimated to attain a revenue of around USD 21,300 Million in 2028 by growing at a CAGR of 83.1% over the forecast period, i.e., 2020-2028. Factors such as the growing adoption of 5G technology in cellular networks, along with the need amongst the telecom operators to lower the cost of operations are expected to drive the market growth. The O-RAN network architecture utilizes a single virtualized BBU to support multiple radios. Moreover, the open interfaces permit the implementation of new network features and functions operable on any vendor's hardware without the need for vendor-specific integration.
The global O-RAN market is segmented by numerous segments, and include segmentation by component, connectivity technology, deployment location, end-use vertical, and by region. Based on component, the market is segmented into hardware, software, and services. The hardware segment, out of all these segments, is projected to attain a revenue of about USD 9900 Million by the end of 2028. Alternatively, the software segment is anticipated to grow with the highest CAGR of 90% respectively during the forecast period.
Based on region, the global O-RAN market is segmented five major regions comprising North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, out of which, the market in the Asia Pacific market is projected to hold the leading market share of about 38% and attain a revenue of close to USD 8,200 Million in 2028.
Some of the key players of the global O-RAN market which are mentioned in our report are: Metaswitch Networks, Mavenir, NTT DOCOMO, INC., Sterlite Technologies Limited, Huawei Technologies Co., Ltd., Radisys Corporation, Casa Systems, VIAVI Solutions Inc., Parallel Wireless, Inc., NXP Semiconductors, and others. The report also includes key players who manufacture the radio units for O-RAN, namely Fujitsu Limited, NEC Corporation, Benetel Ltd., Comba Telecom Systems Holdings Ltd., and others. Further, players manufacturing fiber optics, wired & wireless components for O-RAN are ip.access Ltd., Altiostar, NTS Technology, and others.