FREMONT, California, Oct. 30, 2019 /PRNewswire/ -- According to a new market intelligence report by BIS Research, titled "Global Software- Defined Radio Market - Analysis and Forecast, 2019-2024", the software-defined radio (SDR) market was valued at $21.85 billion in 2018 and is expected to reach $31.69 billion by 2024. The market is projected to grow at a CAGR of 7.19% during the forecast period from 2019-2024.
The rising developments and innovations in the radio communication systems gave rise to software-defined radios which have significantly provided the military forces with relevant information regarding the battlefield. According to International Telecommunication Union (ITU) the software-defined radios are the ones wherein all the functions of the physical layer are software-defined. The SDR provides software control on wideband operations, modulation, communication functions, narrowband operations, and waveform requirements for frequency range.
The high demand for defense electronics is majorly attributed by the global tensions persisted over the years. Growing maritime disputes, traditional land-based conflicts, hybrid warfare, maritime piracy, cyber-attacks, urban insurgency, and civil attacks are some of the factors driving the SDR market. The rise in tensions have resulted in the increase of defense budget, globally. Harris Corporation, General Dynamics, BAE Systems, and Raytheon, Inc., among others, are some of the leading manufacturers that are developing software-defined radios.
Software-defined radio is categorized on the basis of platforms such as land, air, naval, and space. Also on the basis of applications, these systems are further classified into defense & space and commercial. Based on the current developments, the military communication is expected to have the highest demand across major economies, during the forecast period. However, the commercial sector of the SDR market is also growing with a rapid speed, owing to the increasing demand for cognitive radio in telecommunication and vehicular networking.
According to Rahul Papney, Principal Analyst at BIS Research, "Asia-Pacific (APAC) software-defined radio market is expected to witness the fastest growth throughout the forecast period. The increase in the demand for software-defined radio in Asia-Pacific is due to the rising border tensions between the neighboring countries, increase in defense spending, and rise in the terrorist movements. According to the analysis, China, Japan, South Korea, and India are majorly contributing to the growth of the market in the Asia-Pacific region. Europe and Asia-Pacific are the prominent regions for the development of software-defined radio market. Moreover, owing to a smaller number of manufacturing companies in the Asia-Pacific region, there is a vast scope of opportunities for both new and already established market players."
The U.K., France, Germany, Russia, and Italy are some of the prominent countries for the European software-defined radio market. The European market is likely to foresee growth opportunities during the forecast period. The high demand for software-defined radios is owing to the developments in the artificial intelligence for military operations to develop cognitive radios. In Middle East, Israel is a prominent country involved in the development of advanced software-defined radio.
The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financials, financial summary, and SWOT analysis. The overall market has been segmented by applications, frequency band, component, and platform. The report also includes a comprehensive section on the geographical analysis including country analysis of 15 different countries.
The key manufacturers of software-defined radios are continuously putting their efforts toward the development of more advanced software-defined radio for cost effectiveness and enhanced endurance. This report is a meticulous compilation of research on more than 70 players in the software-defined radio ecosystem and draws upon the insights from the in-depth interviews with key opinion leaders of more than 10 leading companies, market participants, and vendors. The report also profiles around 15 companies among which are Harris Corporation, Raytheon, Inc. and BAE Systems, among others.
Key Questions Answered in the Report:
How much revenue was generated by the market in 2018 and how is it projected to grow during the forecast period from 2019 to 2024?
What are the major driving forces, challenges and opportunities that tend to influence the demand for software-defined radio market during the forecast period?
What are the new strategies adopted by the market players to make a mark in the industry?
How much revenue is expected to be generated by the segments of the global software-defined radio (SDR) market during the forecast period from 2019 to 2024, on the basis of -
Platform, including land, airborne, naval, and space.
Frequency band, including high frequency, very high frequency, ultra-high frequency, super high frequency, and others
Component, including transmitter and receiver, software, and auxiliary systems
Application, including defense and space and commercial
Region, including North America, Europe, Asia-Pacific, and Rest-of-the-World (ROW)
Who are the key players in the software-defined radio market?
What is the competitive strength of the leading players in the market?
What is the revenue share contribution of the key market players in the market?
What is the positioning of the key players in the global software-defined radio market?
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
What distinguishes BIS Research from the rest of the players is that we not only provide data but also complement it with valuable insights and actionable inputs for the success of our clients.
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