Software Defined Radio Market worth $12.5 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO  , Nov. 10, 2022 /PRNewswire/ -- Software Defined Radio Market size is estimated to be USD 10 billion in 2022 and is projected to reach USD 12.5 billion by 2027, at a CAGR of 4.6% according to a new report by MarketsandMarkets™. The market growth can be attributed to growing demand for mission-critical communications solution.

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The growth of the market across the globe can be attributed to surging adoption of software defined radios in government & defense and commercial applications.

The applications of communication systems developed previously over a decade were limited owing to the lack of interoperability across the spectrum along with their limited functions within a specified bandwidth. Such limitations are anticipated to curb the ability of these systems to fulfill the existing and future communication requirements of the users. This has also propelled several government authorities to focus on the development and procurement of new software defined radios that cater to data, video, and voice communications coupled with high interoperability.

The increasing usage of intra-squad radios allowing soldiers to improve their interconnectivity will contribute to the Software Defined Radio Market's growth. Rising demand for innovative communication systems and reduced cost of new products & services are major factors that will influence the Software Defined Radio Market growth. On the other hand, high development costs and integration issues may act as a hurdle to the market's growth.

The US, the UK, France, and Israel are some of the key players in software defined radios, whereas regions such as North America and Asia Pacific are the prime markets for component manufacturers and distributors. This report further analyses the market drivers, restraints, opportunities, and challenges to assess the impact of these factors on the market.

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Based on Type, the cognitive/intelligent radio segment is anticipated to grow at highest CAGR during

Based on type, the Software-Defined Radio (SDR) Market has been segmented into general purpose radio, joint tactical radio system (JTRS), cognitive/intelligent radio, and terrestrial trunked radio (TETRA). This software-defined radio is used for defense and commercial applications. Cognitive radio refers to a type of radio in which the systems are aware of their location, established policies, and internal state. The radio system with such intelligence can make decisions on its radio operating parameters by comparing predefined objectives. It utilizes software-defined radio (SDR), adaptive radio, and other related technologies to automatically adjust its behavior or operations to achieve desired objectives. The major benefits of cognitive radio with SDR include the optimized use of spectrum, interoperability, and the ability to reconfigure networks to meet current needs and reach hidden frequency nodes. In the coming years, the application of cognitive radio is expected to rise exponentially across various industry verticals. Technological advancements, optimized spectrum utilization, and the increasing adoption of 5G technology are major driving factors for market growth.

Intelligent radio is an upgradation of the cognitive radio with the capability of intelligent machine learning in the communication system during operational activities. This machine learning capability supports the intelligent radio to adapt the variations in system performance and its surrounding environment to aid the requirements of the end-use applications.

Based on frequency, the multi frequency segment likely to grow at highest CAGR during forecast period

Based on frequency, the Software-Defined Radio Market has been segmented into single band and multi band. These frequency bands were arbitrarily code-named with letters for defense security during World War II. They were later adopted by the IEEE (Institute of Electrical and Electronics Engineers) in the US and by the ITU (International Telecommunication Union) worldwide. The Asia Pacific region is going through various wars and conflicts, such as Russia's war with Ukraine. These wars, along with conflicts and political instabilities in the Middle East, have also led to an increase in demand for software-defined radios.

The Asia Pacific region is projected to be high growth potential markets for the software defined radio during the forecast period.

Asia Pacific to witness strong growth during the forecast period. Developing countries in Asia Pacific such as India and China are strengthening their combat systems by investing in tactical radio systems to counter threats arising from regional conflicts.

China is one of the fastest-growing economies in the world. The country is expected to increase its military spending in SDRs. It is also expected to invest in modern military equipment to remain technologically advanced in the Government & Defense area. China is one of the prominent manufacturers of equipment needed in SDRs. It is also one of the leading providers of commercial SDR systems for use in telecommunication systems. Major manufacturers of SDRs in telecommunications include ZTE Corporation and Huawei. These companies have designed advanced SDR-based BTS stations for wireless communications.

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In November 2021, China-based radio manufacturer, Xiegu, started shipping its latest SDR transceiver: the Xiegu X6100, which has Bluetooth and WiFi connectivity, like the IC-705. However, unlike the IC-705, this functionality was not in place with the first production run of the X6100. It is being slowly implemented via X6100 firmware updates.

The major players include in Software Defined Radio Market are L3Harris Technologies, Inc. (US), Raytheon Technologies Corporation (US), Northrop Grumman Corporation (US), General Dynamics Corporation (US), and Thales Group (France).

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