Cloud-Radio Access Network (C-RAN) Market worth $14.4 billion by 2025 - Exclusive Report by MarketsandMarkets

CHICAGO, Dec. 4, 2020 /PRNewswire/ -- According to the new market research report "Cloud-Radio Access Network (C-RAN) Market by Component (Solution and Services), Network Type, Deployment (Cloud and Centralized), End User (Telecom Operators and Enterprises), and Region - Global Forecast to 2025", published by MarketsandMarkets, the C-RAN Market size is projected to grow from USD 2.9 billion in 2020 to USD 14.4 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 37.7% during the forecast period. The major factors driving the growth of the C-RAN Market include the rapid increase in bandwidth demand, the increase in the demand for 5G network technologies, and the need for lower CAPEX and OPEX. 

Browse in-depth TOC on "Cloud-Radio Access Network (C-RAN) Market"

244 – Tables
49 – Figures
229 – Pages

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By component, the service segment to have a higher market share during the forecast period

Services play a crucial role in transforming new-age enterprises, which are constantly challenged by disruptive forces and innovations in the market. The services segment in the C-RAN Market is expected to witness an improved growth rate due to the increased adoption of growing technologies. Large numbers of Mobile Network Operators (MNOs) and telecom providers are planning to come up with enhanced technologies for minimizing latency issues and supporting the 5G technology.

By service, support services segment to have highest growth during the forecast period

Support services are the key factors for the smooth functioning of software and solutions deployed centrally and in cloud. These services include functional, technical, and database support that companies offer to end customers during installations and maintenance. These services also assist their customers in efficiently managing security, risk, and compliance. Vendors provide various levels of support programs, such as standard and extended support, which are designed to meet particular customer needs. These include software maintenance for bug fixes, updates, and upgrades on licensed software.