Global 5G RAN Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2024-2032)

Global 5G RAN Market Growth

In 2022, the International Telecommunication Union (ITU) reported that there were over 8.58 billion mobile subscriptions globally, while the world population was approximately 7.95 billion in the middle of the year. Preliminary figures from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker indicate that global smartphone shipments rose by 9.0% year-over-year, reaching 292.2 million units in the second quarter of 2024. The 5G RAN market expansion is significantly influenced by the growing adoption of smartphones worldwide. As more individuals depend on smartphones for data-intensive activities such as video streaming, gaming, and social media, the demand for faster and more dependable networks has escalated. 5G RAN delivers the high-speed, low-latency connectivity essential for these applications, thereby improving user experiences. Furthermore, the increasing use of smartphones contributes to a rise in data traffic, compelling telecom operators to enhance their 5G RAN infrastructure to meet the surging network requirements.

The adoption of 5G technology is projected to increase from 738 million connections, representing only 9% of the global population in the second quarter of 2022, to 2 billion by 2025, and further to 5.2 billion by 2030. This rapid deployment of 5G networks significantly outpaces that of 3G and 4G technologies. A GSMA study indicates that while 5G comprised over 5.5% of mobile connections just 18 months post-launch, both 3G and 4G managed to achieve only 2.2% penetration during the same timeframe. The 5G RAN market growth is driven by the increasing global adoption of 5G, as enhanced device compatibility boosts the demand for faster and more reliable connectivity.

Key Trends and Developments

Global 5G RAN Market Trends

The market is undergoing significant changes, driven by increasing mobile data requirements and the expansion of the Internet of things (IoT). Prominent trends aiding the market development include the transition to Open RAN, which facilitates interoperability among different vendors' equipment, thereby lowering deployment costs and enhancing flexibility. Additionally, the adoption of Massive MIMO (Multiple Input, Multiple Output) technology is on the rise, promoting more efficient use of the spectrum and increasing network capacity.

Another notable trend is network slicing, which enables the creation of dedicated segments of the network for various applications, such as healthcare and automotive, thereby addressing the diverse needs of different sectors and leading to the 5G RAN market development. The integration of edge computing with 5G RAN is also becoming prevalent, as it minimises latency for applications that require real-time data processing. Furthermore, substantial investments from both governmental and private sectors globally are propelling extensive 5G infrastructure deployments, thereby improving connectivity in both urban and rural areas.

Global 5G RAN Industry Segmentation

Global 5G RAN Market Share

Based on deployment, the market is segmented into indoor and outdoor. In the 5G RAN market, the outdoor segment is projected to grow at a CAGR of 12.7% during the forecast period of 2024-2032. Outdoor 5G RANs are resilient cellular units designed to deliver wireless connectivity to devices across diverse outdoor environments including urban areas, rural landscapes, and industrial sites, among others.

Leading Companies in the Global 5G RAN Market

Major players in the market are focusing on the adoption of advanced technologies, hence increasing the 5G RAN market value.

Telefonaktiebolaget LM Ericsson

Telefonaktiebolaget LM Ericsson was established in 1876 and is based in Stockholm, Sweden. The company focuses on telecommunications and network equipment, spearheading advancements in mobile and broadband technologies on a global scale, particularly in the realm of 5G, while maintaining a robust commitment to research and development as well as digital services.

Qualcomm Technologies, Inc.

Qualcomm Technologies, Inc., founded in 1985 and located in San Diego, California, is a pioneer in wireless te...

Nokia Corporation

Nokia Corporation, which originated in 1865 and is headquartered in Espoo, Finland, has evolved from a mobile ...

Intel Corporation

Intel Corporation, founded in 1968 and situated in Santa Clara, California, stands as a leading manufacturer o...

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

Other major players in the market are Samsung Electronics Co., Ltd., Huawei Technologies Co. Ltd., Rakuten Symphony Singapore, Pte. Ltd., Cisco Systems, Inc., NEC Corporation, and ZTE Corporation, among others.