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The global virtualized radio access network market size was USD 2.56 Billion in 2022 and is expected to reach USD 27.67 Billion in 2032, and register a revenue CAGR of 28% during the forecast period. The market revenue growth is a result of the rising need for solutions for efficient, adaptable, and economical mobile network infrastructure. The virtualization of mobile network infrastructure is made possible by the new technology known as virtualized Radio Access Network (vRAN), which separates the hardware and software layers. This enables Mobile Network Operators (MNOs) to quickly grow their network capacity to meet the rising demand for mobile data while also lowering the expenses related to setting up and maintaining traditional Radio Access Network (RAN) infrastructure.
The necessity for an effective and adaptable mobile network infrastructure in both urban and rural locations is raising the demand for vRAN solutions. Mobile data traffic has significantly increased as a result of the quick uptake of smartphones, tablets, and other mobile devices, which has put pressure on RAN infrastructure. Without needing to build extra hardware, vRAN solutions allow MNOs to swiftly and easily extend their network capacity to meet the rising demand for mobile data. Thus, vRAN solutions are a desirable choice for both big and small MNOs.
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The need to lower the expenses of setting up and maintaining traditional RAN infrastructure is another factor driving the development of vRAN solutions. Traditional RAN infrastructure is frequently distributedly installed, with several base stations linked to a single controller. This necessitates a large expenditure on maintenance, software, and hardware. vRAN systems, in contrast, allow for the virtualization of RAN infrastructure, which minimizes the requirement for hardware and associated maintenance expenses. Thus, vRAN solutions are a desirable choice for MNOs trying to lower their capital and operating costs.
The rising need for 5G networks is also expected to drive revenue growth of the vRAN market. Traditional RAN infrastructure makes it challenging to deliver the considerable increases in network capacity and flexibility required for 5G networks. MNOs can quickly and effectively extend their network capacity to meet the needs of 5G networks thanks to vRAN technologies. Thus, vRAN solutions are a desirable choice for MNOs trying to develop 5G networks rapidly and effectively.
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By Component Type OutlookRegional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
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