As per a P&S Intelligence report, in 2018, the global C-RAN market reached a value of $936.3 million and is expected to generate a revenue of $2,159.2 million by 2024, witnessing a 15.9% CAGR during the forecast period (2019–2024). Different applications of C-RAN are suburban & rural areas, large public venues, high-density urban areas, and targeted outdoor urban areas. Out of these, the fastest growth in demand for C-RAN is predicted to be created for the targeted outdoor urban areas application in the coming years.

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The C-RAN market is predicted to register a considerable growth in the coming years due to the rising adoption of the technology among telecom operators, owing to the growing demand for LTEW services. Conventional RAN technology is ideal for small offices, however, its deployment in large areas, including amusement parks, stadiums, event spaces, and malls, often lead to an increased network density that affects the experience of users.
This market research report provides a comprehensive overview of the C-RAN market

Recent trends and evolving opportunities for the market participants
Historical and the present size of the market segments and understand their comparative future potential
Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
Major players operating in the market and their service offerings
Recent strategic developments by the major players in the market
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Attributed to this, the adoption of C-RAN in large areas is rising as it facilitates reduced inter-cell interference, increased storage capacity, and improved user experience. Cloud radio access network is a centralized, cloud-computing-based architecture for RAN which allows large-scale deployment, real-time virtualization capabilities, and collaborative radio technology support.

C-RAN is an evolution of the existing wireless communication system and makes use of the latest common public radio interface standard, millimeter wave transmission for long distance signals, and coarse or dense wavelength division multiplexing technology. Hence, the market is being driven by the growing penetration of 5G technology and increasing adoption of C-RAN by telecom operators.