Software Defined Radio Market size is projected to be valued $43.2 Billion by 2026; with a CAGR of 8.9% from 2019 to 2026.With the evolution in the ways and means by which people need to communicate such as data communications, voice communications, video communications and broadcast messaging, among others, modifying radio devices easily and cost-effectively has become business critical. Software-defined radio (SDR) technology brings the flexibility and cost efficiency to drive communication forward, with wide-reaching benefits realized by the service provider through to end-users.
Technological advancements in software-defined radio, growing adoption of SDR in telecommunication and an increase in military spending on tactical communication are some major factors driving the growth of software defined radio market. However, concerns about security, interoperability issues may hamper the growth of SDR market. Furthermore, an increase in demand for next-generation IP systems and increasing demand for SDR in homeland security, industrial and commercial applications are likely to create growth opportunities for software-defined radio (SDR) market.
Software Defined Radio Market is segmented based on application, component, platform, frequency band, and geography. On the basis of application, the software defined radio market is segmented into defense and commercial. On the basis of component, the software defined radio market is segmented into software, transmitter, receiver, and auxiliary system. On the basis of platform, the software defined radio market is segmented into land, airborne, naval, and space. On the basis of the frequency band, the software defined radio market is segmented into VHF, UHF, HF, and other bands.
Software Defined Radio Market by geography is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S. and Canada are countries under North America wherein Europe covers U.K, Germany, France, and others. Asia-Pacific covers China, India, Japan, and Rest of Asia-Pacific. RoW covers South America, Middle East, and Africa.
Major companies operating in the SDR market are Northrop Grumman, BAE Systems, Harris Corporation, Thales, General Dynamics, Rockwell Collins, Leonardo, ASELSAN and Elbit Systems, among others.
The key takeaways from the report
Scope of Software Defined Radio Market