With two consecutive years of steep declines, the Radio Access Network (RAN) market is now down nearly $9 billion in 2024 relative to the peak in 2021, says Dell’Oro .

“It is not easy to put a positive spin on the fact that the RAN market just recorded the steepest full-year decline in more than 20 years,” said Dell’Oro vp Stefan Pongratz, “regional coverage imbalances and monetisation challenges are nothing new. What sets this downturn apart is the uncertainty surrounding the capacity upgrade cycle that typically comprises a significant part of the RAN market in the new technology post-peak rollout phase.

Revenue rankings did not change in 2024. The top RAN market falls by $9bn in 3 years5RAN suppliers based on worldwide revenues are Huawei, Ericsson, Nokia, ZTE, and Samsung.

The top 5 RAN suppliers based on revenues outside of China are Ericsson, Nokia, Huawei, Samsung, and ZTE.

 

Revenue shares changed in 2024 – Huawei and Ericsson improved their revenue shares while Nokia, Samsung, and ZTE’s RAN revenue shares fell.

The fundamentals that shape the RAN market have not changed, and the long-term trajectory discussed in the most recent 5-year forecast still holds (0 percent CAGR over next five years).

The short-term outlook is mostly unchanged, with total RAN expected to remain stable in 2025 and RAN outside of China growing at a modest pace as conditions in North America and APAC excluding China improve.