Software Defined Radio Market Forecast By 2023 With CAGR 11%
According to a study conducted by Market Research Future (MRFR), the global software defined radio market is set to expand at 11% CAGR during the forecast period (2017-2023). Software defined radio (SDR) has continued to evolve and improve over the years thereby creating tremendous market prospects. Modern software defined radio systems can send and receiving long range signals with high frequency. SDR also assist in identification of dynamic of transmission.
Advances in digital communication technologies has augured well for market players as it drives the adoption of software defined radio. SDR systems have gained significant traction in recent years, owing to increase product efficiency and availability of affordable subscription charges. Furthers, developers are focusing on making their products applications-specific and future-ready. Such factors are expected to support the growth of the market during the projection period. There are new network regulations that have come in place to regulate SDR application and restrict misuse of such technologies.
It projected that SDR will continue to find lucrative market opportunities in the years to come. Radio innovation and advances in communication technology are some of the important factors that are likely to govern SDR application scope. Moreover, increased demand for efficient transmission devices in influencing the SDR application potential. Latest SDR systems come with advantages such as re-configurability, interoperability and flexibility, which is driving their commercial deployment at scale.
Global Software Defined Radio Market: Segmental Analysis
The segmental of Software Defined Radio Market has been conducted based on component, platform and frequency brand.
On the basis of component, the market has been segmented software, receiver, transmitter and an auxiliary system. The software segment is expected to post a strong growth rate during the forecast period. Software defined radios are witnessing a strong demand, which is driving the segment’s growth. Developers release software updates intermittently to cater to changing requirements of users.
Based on platform, the market has been segmented into airborne, land, naval and space. The land segment is likely to hold the pole position throughout the assessment period. Software defined radio fined widespread usage in land based tactical military transmission. Latest versions of software defined radios have wideband network waveform capable of running mobile network operation in extreme situations (war zones, battle fields, etc.)
Based on frequency band, the market has been segmented into High Frequency (HF), Ultra High Frequency (UHF) and Very High Frequency (VHF). The UHF band segment is expected to remain highly attractive during the forecast period owing to rapid integration of ultra-high frequency band in commercial telecommunication applications. UHF band is increasingly relied on for facilitating communication applications (intelligent transportation systems, civil air traffic controls, etc.) in transportation sector.
Global Software Defined Radio Market: Regional Analysis
The market has been assessed across North America, Europe, Latin America, Asia Pacific (APAC), and the Middle East & Africa (MAE). Investor confidence is remains high in APAC, countries such as India, China, Indonesia, among others have emerged as top investment destination for market players in recent years. Policy reforms and a growing middle-class in these countries are some of the favourable elements. In addition, improving telecom infrastructure in the region is supporting the adoption of advanced networking technology. Another key factor that influencing the market growth is the increased investment in military modernization by several APAC countries.
Global Software Defined Radio Market: Competitive Landscape
Some of the companies operating in the market include BAE Systems (U.K), Rockwell Collins (U.S.), Elbit Systems (Israel), Northrop Grumman (U.S.), ROHDE & SCHWARZ (Germany), ASELSAN (Turkey), General Dynamics Corporation (U.S.), Thales Group (France), Harris Corporation (U.S.), and Leonardo G.p.A (Italy)