The size of the global software-defined radio market was valued at USD 12.45 billion in the year 2020. It is expected to experience growth, reaching USD 16.20 billion by the year 2028, with a compound annual growth rate (CAGR) of 5.3% during the period from 2021 to 2028. Furthermore, the market is estimated to begin the year 2021 with a value of USD 11.60 billion.
Browse In-depth Summary of This Research Insight:
https://www.fortunebusinessinsights.com/software-defined-radios-market-102524
List of Companies Profiled in the Report:
BAE Systems (The U.K.)
Aselsan (Turkey)
Elbit Systems (Israel)
General Dynamics (the U.S.)
Northrop Grumman (The U.S.)
Harris Corporation (The U.S.)
Rockwell Collins (The U.S.)
Thales Group (France)
Leonardo (Italy)
Rohde and Schwarz (Germany)
Others
Drivers & Restraints-
Rising Adoption by Residential and Industrial Sectors to Bolster Growth
The increasing adoption of SDR in the telecommunication sector and its technological advancements stands as the key factor boosting the global software defined radio market growth. The introduction of cognitive radio (CR), and smart processing into SDRs, coupled with the rising expenditure on the military and defense sector by various governments will also aid in expansion of the market. Additionally, the increasing adoption of software defined radio across the industrial, residential, and commercial sectors will further augment the growth of the market in the coming years. Furthermore, the increasing demand for mission-critical communication will also augment growth.
On the contrary, high power consumption and interoperability of disparate communication technologies may cause hindrance to the market in the forecast period. Despite this, the growing use of wireless features, and the rising demand for next-generation IP systems are likely to create lucrative growth opportunities for the market in the coming years.
Segmentation-
Detailed Segmentation of the Software Defined Radios Market include:
The market for software defined radios is segmented into application, component, platform, frequency band, type, and geography. Based on application, the market is bifurcated into commercial, and defense. With respect to component, the market is grouped into auxillary system, software, receiver, and transmitter. On the basis of platform, the market is segmented into space, naval, airborne, mobile, fixed, and land. The frequency segment is further categorized into UHF, VHF, HF, and other bands. In terms of type, the market is classified into terrestrial trunked radio (TETRA), cognitive or intelligent radio, and joint tactical radio system (JTRS).
Regional Analysis-
Asia Pacific to Emerge Dominant Owing to Rising Demand for Advanced Military Equipment
On the basis of geographical segmentation, the largest software defined radio market share is generated by Asia Pacific owing to the increasing demand for advanced technologies and new product development. This, coupled with the rising demand for advanced military equipment, will help this region continue its dominance the market in the forecast period. On the other hand, the market in North America is expected to generate notable revenue on account of the expansion of the telecom industry and the increasing adoption of advanced technological products. Furthermore, the European market will also gain momentum in the coming years attributing to the presence of major players such as Thales Group, BAE Systems, Leonardo, and others in Italy, France, and the United Kingdom.
The Software Defined Radios (SDR) market is witnessing strong growth propelled by several key factors. The increasing demand for versatile and interoperable communication systems, advancements in wireless technologies, and the flexibility offered by SDR in adapting to evolving communication standards are driving this growth. Military and defense applications, as well as the expanding commercial use of SDR in telecommunications, are significant contributors to the expansion of the market. Furthermore, the adoption of SDR for public safety and emergency response purposes enhances its market prospects.
However, there are certain challenges and restraints to consider. Concerns over cybersecurity vulnerabilities in software-based radio systems, the initial implementation costs associated with SDR technology, and the difficulty of achieving standardization across diverse communication platforms are among the obstacles. Despite these challenges, the market continues to grow due to the pivotal role SDR plays in meeting the dynamic requirements of modern communication networks and ensuring adaptability to emerging technological advancements.