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Radio Access Network (RAN) virtualization stands as a pivotal concept in the realm of 5G networks and beyond. It emerges as a viable solution not only to address energy cost concerns but also to optimize material and radio resource management. Despite numerous deployment trials worldwide, a comprehensive realization of Virtual RAN (V-RAN) remains elusive. Current platforms tackle various aspects of V-RAN but encounter numerous limitations. In this paper, we conduct a survey on the progress of RAN virtualization to date and discuss the persisting barriers to its full realization in future mobile radio networks. Initially, we revisit the fundamentals of virtualization and its evolution over recent decades, elucidating the distinctions between Cloud RAN (C-RAN), V-RAN, and Open RAN concepts. Subsequently, we offer an in-depth tutorial on the implementation procedures of V-RAN as per different vendors. Lastly, we shed light on persisting issues within vendor platforms and demonstrate, via simulations, the constraints on their performance concerning supported Base Band Units (BBUs) and devices, as well as coordination among various entities.

RAN Virtualization: How Hard Is It to Fully Achieve?