LONDON--(BUSINESS WIRE)--The global radio access network (RAN) market size is expected to grow by USD 13.86 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio. Request a free sample report
The developments in telecommunication standards such as 3G, 4G, and 5G is stimulating the adoption of IoT technology across several industries. There has been a rise in the adoption of low-power IoT device connectivity solutions such as low-power WAN (LPWAN), which includes the Narrowband IoT (NB-IoT). The NB-IoT enables communication among devices that have low data requirements for long periods in inaccessible places. RAN facilitates wireless communication between IoT devices, such as smartphones and tablets, and the core network through radio signals. IoT devices are connected to the wireless network utilizing RAN to transmit signals to various wireless endpoints. Thus, the growing adoption of IoT devices is expected to propel the growth of the global RAN market during the forecast period.
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As per Technavio, the increasing use of VoLTE services will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Radio Access Network Market: Increasing Use of VoLTE Services
The increasing use of VoLTE services is expected to be one of the key radio access network market trends that will drive the growth of the market. Voice over LTE (VoLTE) enables the transmission of voice data over LTE networks. Its features include high-quality calls and improved coverage and connectivity. Voice over Wi-Fi (VoWiFi) is an additional enhancement to VoLTE that is used to deliver voice packets over Wi-Fi. The major advantage of VoWi-Fi is that it can be operated from wireless devices such as mobile phones and laptops. Several companies have already implemented VoLTE in their service offerings. For instance, in India, Reliance Communications Ltd. (Reliance Communications) launched its VoLTE services, in collaboration with Nokia, in August 2016. The aim was to deploy pan-India VoLTE services by signing a contract worth USD 100 million. The increasing implementation of LTE, VoLTE, and VoWi-Fi is expected to drive the deployment of LTE base stations and array antennas to improve the quality of VoLTE services during the forecast period.
“Factors such as the increasing focus on improving communication network infrastructure by government authorities, and the growing number of strategic collaborations in the market will have a significant impact on the growth of the radio access network market value during the forecast period,” says a senior analyst at Technavio.
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Radio Access Network Market: Segmentation Analysis
This market research report segments the radio access network market by product (macrocell, antenna systems, and small cell) and geography (APAC, North America, Europe, South America, and MEA).
The APAC region led the radio access network market share in 2019, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to the large-scale developments in telecommunication network infrastructure.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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