The Open RAN market is expected to grow from USD 2.8 billion in 2024 to USD 20.9 billion by 2030 at a CAGR of 39.4% during the forecast period. The rapid growth of the Open RAN market is being driven by the need to improve network robustness, decrease dependence on traditional vendors, increase operational flexibility, and reduce costs.
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Key Growth Drivers
Segment Insights
Regional Insights: North America
North America is estimated to have the second-largest market size during the forecast period. The region's focus on innovation, flexibility, and cost efficiency in mobile networks contributes to the rapid growth of Open RAN. Key players, such as Dish Network in the US and companies like Bell Canada and Rogers Communications in Canada, are investing in Open RAN to upgrade their networks. This trend enables operators to select the best solutions from multiple vendors, promoting flexibility and cost reduction.
Key Market Players
The major players in the Open RAN market include established companies and innovative start-ups such as Ericsson (Sweden), Nokia (Finland), Samsung (South Korea), NEC Corporation (Japan), Mavenir (US), Huawei Technologies (China), HPE (US), Broadcom (US), Fujitsu (Japan), Viavi Solutions (US), Juniper Networks (US), Amdocs (US), Wind River Systems (US), Rakuten (Japan), Comba Telecom (China), Intel (US), Radisys (US), Keysight Technologies (US), MaxLinear (US), Airspan Networks (US), Picocom (England), Sivers Semiconductors (Sweden), Celona (US), Globalstar (US), DeepSig (US), Cohere Technologies (US), Verana Networks (US), Digis Squared (UK), Parallel Wireless (US), Baicells Technologies (China), and Gigatera (US).
These players adopt various growth strategies, including partnerships, agreements, collaborations, new product launches, and acquisitions to expand their presence in the Open RAN market.
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