According to the study of Wise Guys Report the worldwide market of Virtualized Radio Access Network (vRAN) is expected to reach 126700 million US$ in the year 2025 from the 200 million US$ of the year 2017. The CAGR from 2018 to 2025 is expected to be 123.8%. The growth rate of virtualized radio access network market is quite high and it can create lots of opportunities for the people involved in the industry.
The growth of mobile traffic volume is high which is increasing the demand for vRAN systems. vRAN creates a more versatile system that can prepare future technology. The dynamic nature of technology is constantly developing mobile phone technology which creates a need for a system that can easily be updated. vRAN can keep up with the evolving technology and can upgrade the system to the 5G level of technology. Companies want to be prepared for the evolving technology so that they are not required to constantly upgrade the system.
In terms of sale volume, the United States saw the largest global export for the vRAN systems and Europe was the second largest exporters of such system in the year 2017. Alcatel-Lucent (Nokia) had the largest sale volume and there is a huge market gap between major players due to their different strategies.
The report segment product based on type, application, and region. The economic, social and political conditions of the regions are taken into consideration to provide statistics. The business history and future trends of the companies are used for the analysis of the report.