The Europe RAN Intelligent Controller Market would witness market growth of 57.9% CAGR during the forecast period (2023-2030).
The emergence of 5G has significantly impacted the telecommunications industry, which is transitioning from being a provider of networks or bandwidth to one that offers composable, consumption-based network design and software-defined service models. Tech companies can benefit from dynamically allocated bandwidth based on their usage patterns and business requirements.
Additionally, 5G will expand coverage in places where offering low-latency, high-bandwidth service has been challenging. The telecoms industry's growing demand for cutting-edge network management and optimization solutions drives market expansion. RAN intelligent controllers (RICs) are software-defined network elements that provide better control and coordination capabilities between the RAN hardware and the core network.
The market is mainly driven by elements like rising network enhancement need, ecosystem collaboration, and open interfaces. Additionally, during the projected period, there could be attractive potential for market expansion due to increased demand for improved network management.
The European Commission released Europe’s Digital Decade: digital targets for 2030, a policy program that will direct the region’s digital transformation and include specific targets and objectives. With this, Europe wishes to empower businesses and individuals towards a digital future which is human-cantered, more sustainable as well as more wealthy. The European Commission will accelerate and support establishing multi-country projects—vast undertakings that every Member State could undertake independently—to achieve the digital targets and objectives. This investment will assist the EU in advancing fundamental digital technologies and promote their use in daily life. The market in this region is expected to expand due to the implementation of 5G technology and the expanding digital transformation.
The Germany market dominated the Europe RAN Intelligent Controller Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $306.5 Million by 2030. The UK market is exhibiting a CAGR of 56.5% during (2023 - 2030). Additionally, The France market would experience a CAGR of 59% during (2023 - 2030).
Based on Function, the market is segmented into Non-RT RIC and Near-RT RIC. Based on Component, the market is segmented into Platform and Services. Based on Application, the market is segmented into rApps and xApps. Based on Technology, the market is segmented into 4G and 5G. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide RAN Intelligent Controller Market is Projected to reach USD 5.1 Billion by 2030, at a CAGR of 58.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nokia Corporation, VMware, Inc., Intel Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Cisco Systems, Inc., ZTE Corporation, NEC Corporation, Juniper Networks, Inc. and Telefonaktiebolaget LM Ericsson.
By Function
By Component
By Application
By Technology
By Country
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