5G Radio Access Network Market to reach USD 73.6 billion by 2032, driven by fast adoption
From GlobeNewswire: 2025-05-22 10:00:00
The 5G Radio Access Network Market, valued at USD 28.2 billion in 2023, is projected to reach USD 73.6 billion by 2032, growing at a CAGR of 11.24% from 2024 to 2032. This growth is driven by the increasing need for high-speed internet connectivity for data-hungry applications, IoT devices, smart city initiatives, autonomous cars, and Industry 4.0. Investment in network infrastructure expansion and government measures also contribute to market growth.
In the U.S., the 5G RAN Market is expected to reach $16.9 billion by 2032, with an 11.01% CAGR from 2024 to 2032. The growth is fueled by the demand for faster mobile connectivity, ubiquitous 5G-enabled devices, government incentives for infrastructure, and increasing use cases in industries like healthcare and autonomous transportation.
The hardware segment led the 5G Radio Access Network Market in 2023 with over 58% market share, consisting of antennas, radio units, and baseband units. Antenna systems play a crucial role in increasing data capacity and coverage, facilitating efficient network communication across different frequency ranges.
Open RAN is forecasted to be the fastest-growing segment due to its flexibility and multi-vendor support. This technology separates hardware from software through virtualization, enabling cloud-based management for enhanced 5G flexibility and innovation, reducing dependency on single vendors.
Telecom operators accounted for the largest share in the 5G Radio Access Network market in 2023, driven by expanding infrastructure and service demand. Industry leaders like AT&T and Verizon are investing in 5G equipment to improve service provision, while growing mobile phone penetration and internet subscribers further boost market growth.
North America held around 30% of the 5G Radio Access Network market value in 2023, supported by advanced infrastructure and strong R&D. The region’s developed 5G ecosystem and ongoing innovation in technologies maintain its dominance in the market, making it a key revenue generator. The 5G Radio Access Network Market is segmented by deployment and end use, with a regional analysis and company profiles included. SNS Insider provides current, accurate market data and consumer insights to help clients make confident decisions. Related reports show North America leading in 5G enterprise market, private 5G networks driving industrial automation, and Asia-Pacific leading growth in 5G fixed wireless access market.
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