The Latin America, Middle East and Africa RAN Intelligent Controller Market would witness market growth of 61.4% CAGR during the forecast period (2023-2030).
4G is anticipated to continue to rule the market in the years to come due to the extensive use of smartphones, mobile applications, and streaming services that considerably fuel market expansion. However, the 5G usage and demand is anticipated to grow fastest since it will guarantee efficient network capacity use and offer consumers high-quality experiences.
The RIC is an essential component of the Open RAN disaggregation approach, providing radio access networks with multivendor interoperability, intelligence, agility, and programmability. The RIC enables the integration of third-party apps that scale up the automation and optimization of RAN operations while supporting cutting-edge use cases that reduce the total cost of ownership (TCO) for mobile carriers and raise customer quality of experience (QoE).
The ability to guarantee network performance and maximize spectrum investments is crucial in a sector where operators promote their "largest" or "fastest" networks in TV ads. Utilizing an AI/ML algorithm, a xApp in the near-real-time RIC enables operators to use spectrum most effectively, enhancing spectral efficiency and customer experience.
In a letter to Brazil’s telecom authorities, the industry association Open RAN do Brazil claimed that Open RAN is required to guarantee an innovative, competitive, and safe ecosystem for Brazil’s 5G development. Businesses have already deployed Open Ran networks in many of the world’s most important economies, including Argentina and Colombia. Brazil may soon lead the region in 5G development owing to Open RAN technology. Therefore, all these factors propel the growth of the regional market.
The Brazil market dominated the LAMEA RAN Intelligent Controller Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $82.5 Million by 2030. The Argentina market is showcasing a CAGR of 62.2% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 60.9% during (2023 - 2030).
Based on Function, the market is segmented into Non-RT RIC and Near-RT RIC. Based on Component, the market is segmented into Platform and Services. Based on Application, the market is segmented into rApps and xApps. Based on Technology, the market is segmented into 4G and 5G. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide RAN Intelligent Controller Market is Projected to reach USD 5.1 Billion by 2030, at a CAGR of 58.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nokia Corporation, VMware, Inc., Intel Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Cisco Systems, Inc., ZTE Corporation, NEC Corporation, Juniper Networks, Inc. and Telefonaktiebolaget LM Ericsson.
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