Lucintel's latest market report analyzed that open radio access network provides attractive opportunities in the 2G, 3G, 4G LTE, and 5G networks. The open radio access network market is expected to reach $XX billion by 2028 with a CAGR of 70% to 72%. In this market, open VRAN is the largest segment by product type, whereas hardware is largest by component.

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Based on product type, the open radio access network market is segmented into open RAN RU and open VRAN. The open VRAN segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to increasing deployment of open VRAN by mobile network operators as well as network service providers so as to reduce overall infrastructure costs and network complexities.

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The Open Radio Access Network Market is marked by the presence of several big and small players. Some of the prominent players offering open radio access network include Ericsson, Nokia, Samsung, NEC, Hewlett, Packard, and VMware.

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