A key driving factor of the C-RAN market is the growing penetration of 5G technology. In order to efficiently achieve the deployment of 5G, it is mandatory for the telecom operators to adopt new technologies for desired network capabilities. The demand for 5G, especially in the business environment, is increasing rapidly, which is why the service providers are focusing on the transformation of RAN.
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C-RAN aids in reducing latency, enhancing network performance, lowering OPEX and CAPEX, and simplifying network operations, which is why its demand is increasing. Another factor contributing to the growth of the C-RAN market is the surging data traffic. At the present time, more than 3 billion people around the world utilize smartphones, as opposed to 2.8 billion in 2018, which shows a significant rise in the demand for smartphones. =
This rising usage of smartphones has further led to increased network traffic. Because of this, the telecom operators are focusing on the deployment of C-RAN solutions, where BBUs are deployed on cloud solution, which helps reduce the signal interference and provides enhanced user experience. A major trend being observed in the C-RAN market is the growing adoption of network virtualization technology.
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Enterprises around the globe are becoming more inclined toward virtualization in order to gain an edge over their competitors, primarily in terms of network capabilities. Network virtualization is being adopted by various financial organizations, cloud service providers, and enterprise data centers. In addition to this, both large and small organizations are also taking benefit of network virtualization for speed, efficiency, and scalability.