Dell’Oro Group reports RAN market stabilized in 2025

Dell’Oro Group reports the Radio Access Network (RAN) market stabilized in 2025 with stronger third-to-fourth-quarter seasonality and stable full-year revenue, information that informs procurement timing and vendor selection for enterprise and technical decision-makers.

Market Overview

The report found fourth-quarter results aligned with a broader stabilization trend that shaped the RAN market throughout 2025, producing stable revenue trends for the full year.

The quarter showed stronger-than-typical seasonality from 3Q to 4Q, and the report noted factors that supported improved sentiment.

Key Findings

“Taking into consideration that the RAN market lost around a fifth of its value between 2022 and 2024, this improved stability in 2025 represents a welcome shift in market conditions,” said Stefan Pongratz, Vice President for RAN market research at the Dell’Oro Group.

“Helping to explain the improved sentiment are the more favorable regional mix, easier comparisons, and the weaker USD. Even so, we have not made any material changes to the short-term outlook and still expect the market to be mostly flat in 2026,” continued Pongratz.

Segment or Supplier Performance

Revenue rankings did not change in 2025; the top five RAN suppliers by worldwide revenue were Huawei, Ericsson, Nokia, ZTE, and Samsung.

Vendor dynamics shifted during 2025 with larger vendors strengthening positions while smaller suppliers adjusted strategies, and overall market concentration increased with the Herfindahl–Hirschman Index reaching a 10-year high.

Technology or Trend Analysis

The report stated the fundamentals shaping the RAN market have not changed and that the five-year forecast continues to show a 1 percent Compound Annual Growth rate (CAGR) for 2025–2030.

Forecast or Analyst Outlook

The short-term outlook remained mostly unchanged, with total RAN expected to remain stable in 2026 according to the report.

The analysis attributed part of the improved sentiment to a more favorable regional mix, easier comparisons, and a weaker U.S. dollar as noted by the analyst commentary.

The report synthesizes Dell’Oro Group’s preliminary fourth-quarter findings and their implications for vendor positioning and near-term market stability. This Analyst Signals brief reflects a neutral, fact-based summary of the original research note.