Cloud and centralized radio access network (C-RAN) is a software-based architecture that offers enhanced user experience, facilitates reduced inter-cell interference, and provides increased storage capacity at areas with increased network density, such as offices, malls, event spaces, stadiums, and amusement parks. In recent years, telecom companies have also extensively adopted the C-RAN technology due to the booming demand for long-term evolution (LTE) services, as it does not require hardware installation and maintenance. Furthermore, the increasing penetration of the 5G technology is expected to propel the C-RAN market at a robust CAGR of 15.9% during the forecast period (2019–2024). According to P&S Intelligence, the C-RAN market revenue will surge from $936.3 million in 2018 to $2,159.2 million by 2024. In addition, the accelerating digitalization rate, soaring use of smartphones, and mounting demand for internet of things (IoT) services and solutions will also co...