Cognitive Radio Market predicted to reach $7.44 Billion by 2022

According to a new market research report "Cognitive Radio Market by Component (Software Tools, Hardware, and Services), Application (Spectrum Sensing, Spectrum Analysis, Spectrum Allocation, Location Tracking, and Cognitive Routing), End-User, and Region - Global Forecast to 2022" published by MarketsandMarkets™, the cognitive radio market size expected to grow from USD 3.45 Billion in 2017 to USD 7.44 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 16.6% during the forecast period.

Technological advancements in the wireless communication field, optimized spectrum utilization, and the increasing adoption of the 5G technology are some of the major factors that are expected to drive the growth of the global cognitive radio market. Furthermore, the rising adoption of the cognitive radio technology in government and defense organizations and increasing demand for the cognitive radio technology in commercial applications are expected to provide significant opportunities for the growth of the cognitive radio market.

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The government and defense end-user is expected to be the largest contributor in the cognitive radio market during the forecast period.

The governments of various countries are focused on developing and implementing advanced communication technologies, such as cognitive radios and Software-Defined Radio (SDR), for serving the requirements of the modern nature of warfare. Moreover, the government bodies, such as public safety and homeland security, are responsible for ensuring the protection of citizens, organizations, and institutions against threats to their well-being and the prosperity of their communities. The major issue faced by the government agencies is the highly congested radio frequencies allocated for emergency communication in many areas. The cognitive radio helps these government bodies tackle this issue by ensuring efficient and effective spectrum usage as well as responding to emergency incidents efficiently.

The managed services segment is expected to grow at a higher CAGR during the forecast period.

The demand for services is expected to grow with the evolution of the cognitive radio market, specifically for managed services. The managed services segment is expected to have the faster growth rate during the forecast period. Managed service providers deliver third-party infrastructure services that help organizations manage their wireless communication devices. Managed service providers take care of all the hardware and software functions, while organizations are only responsible for updating and installing business applications and configuring company policies.

North America is expected to have the largest market share during the forecast period.

North America is expected to be the most competitive region in the cognitive radio market during the forecast period. North America, among all the regions, has shown the maximum adoption of the cognitive radio technology, due to its early implementation in the majority of verticals. The region is expected to hold the largest market share during the forecast period. The US and Canada are expected to extensively implement cognitive radios for wireless communication.

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The major cognitive radio vendors are BAE Systems (London, UK), Raytheon Company (Massachusetts, US), Thales Group (Paris, France), Rhode & Schwarz (Munich, Germany), Spectrum Signal Processing (Burnaby, Canada), xG Technology (Florida, US), Nutaq (Quebec, Canada), Ettus Research (California, US), Shared Spectrum Company (Virginia, US), DataSoft (Arizona, US), EpiSys Science (California, US), and Kyynel (Oulu, Finland).

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This release was published on openPR.