Open RAN Industry 2030 Size, Share, Business Growth, Demand and Applications
The global open RAN market size was estimated at USD 1,647.5 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 33.0% from 2023 to 2030. An open radio access network, or O-RAN, is a nonproprietary version of the radio access network (RAN) that allows interoperation between cellular network equipment provided by different vendors. Open RAN enables operators to choose hardware and software solutions from various vendors, which can lead to reduced equipment and operational costs. The vendor diversity, cost reduction, and flexibility offered by open RAN are anticipated to drive the market's growth over the forecast period. In February 2018, China Mobile, AT&T Inc., Deutsche Telekom, Orange, and NTT DOCOMO, founded the O-RAN ALLIANCE. The ALLIANCE aims to reshape the RAN industry toward more open, intelligent, and virtualized fully interoperable mobile networks. O-RAN-based mobile network improves network operators' operational eff...