Dell’Oro estimates 6G-related RAN capex will characterize 55–60% of complete RAN investments between 2029 and 2034
In sum – what to know:
6G capex – Dell’Oro expects main RAN investments beginning late within the decade, led by Large MIMO deployments throughout Sub-7GHz and cmWave spectrum.
Flat RAN market forward – World RAN revenues have risen only one% yearly since 2000, and inflation-adjusted progress stays detrimental, signaling stagnation via 2035.
6G to dominate future capex – Between 2029 and 2034, 6G-related deployments are projected to account for 55–60% of complete RAN investments.
The radio entry community (RAN) market exhibits restricted long-term progress potential, with world revenues increasing at simply 1% CAGR since 2000 in nominal phrases — and declining as soon as adjusted for inflation, based on Dell’Oro Group’s newest 6G superior analysis report,
The report forecasts that RAN spending will stay broadly flat via 2035, with a 6G capital expenditure ramp starting round 2030.
“The RAN market has been flat over the previous twenty-five years. The first purpose we anticipate RAN to stay flat is that the operators are in a great place from a capability perspective and there are restricted catalysts to alter the MBB progress narrative, which is permitting the carriers to proceed bettering their wi-fi capital depth ratios,” Stefan Pongratz, vp of RAN and telecom capex analysis at Dell’Oro Group, instructed RCR Wi-fi Information.
The report famous that this funding cycle can be led by Large MIMO programs within the Sub-7GHz and centimeter-wave bands, primarily leveraging present macro infrastructure.
Relying on information site visitors traits and enterprise adoption of personal wi-fi and glued wi-fi entry (FWA), RAN’s outlook may vary from steady to mildly optimistic, the report said.
It additionally estimates 6G-related RAN capex will characterize 55–60% of complete RAN investments between 2029 and 2034.
“Clearly there may be loads of work left earlier than operators can begin deploying 6G at scale within the 6.4 GHz+ vary leveraging the prevailing macro grid. But when there are delays with 6G, it’ll probably be extra pushed by the market than the expertise not being prepared,” Pongratz added.
A earlier report by Dell’Oro said that the RAN market had confirmed indicators of restoration within the second quarter of 2025.
After two years of contraction, early estimates recommend that world RAN revenues — protecting baseband, radio {hardware}, and software program (however excluding providers) — rose for the third straight quarter outdoors of China, Dell’Oro stated.
The Dell’Oro’s 2Q25 RAN report additionally highlighted that progress in Europe and the Center East and Africa practically balanced out downturns in Latin America and Asia Pacific.
