According to the latest report from MarketsandMarkets™, the C-RAN (Cloud-RAN) market is projected to grow from USD 2.9 billion in 2020 to USD 14.4 billion by 2025, at a CAGR of 37.7% during the forecast period. The major factors driving this growth include the rapid increase in bandwidth demand, the increase in the demand for 5G network technologies, and the need for lower CAPEX and OPEX.
The services segment in the C-RAN Market is expected to witness an improved growth rate due to the increased adoption of technology by large numbers of Mobile Network Operators (MNOs) and telecom providers to minimize latency issues and support the 5G technology.
Support services ensure the smooth functioning of software and systems deployed centrally and in cloud. These services include functional, technical, and database support that companies offer to end customers during installations and maintenance. These services also assist their customers in efficiently managing security, risk, and compliance. Vendors provide various levels of support programs, such as standard and extended support, which are designed to meet particular customer needs. These include software maintenance for bug fixes, updates, and upgrades on licensed software.