Press release
Software Defined Radio Market Report 2024: Strategies And Recent Developments
Software Defined Radio Market
The Business Research Company offers in-depth market insights through Software Defined Radio Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The software defined radio market size has grown strongly in recent years. It will grow from $22.22 billion in 2023 to $23.9 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to evolution of digital signal processing technologies, growth in wireless communication standards, demand for flexible and reconfigurable radio systems, advances in software-defined radio (sdr) hardware, increase in military and defense applications.
The software defined radio market size is expected to see strong growth in the next few years. It will grow to $32.89 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to adoption of 5g technology and beyond, integration of artificial intelligence in sdr, increased use in public safety and emergency communication, expansion of sdr in internet of things (iot) devices, emphasis on spectrum efficiency and dynamic spectrum access. Major trends in the forecast period include software-defined radio in cognitive radio networks, open-source software development for sdr, use of sdr in satellite communication systems, development of portable and handheld sdr solutions, integration of sdr with edge computing for low latency.
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Market Segmentation:
The software defined radio market covered in this report is segmented -
1) By Type: Joint Tactical Radio System (JTRS), Cognitive Radio, General Purpose Radio, Terrestrial Trunked Radio (TETRA), Other Types
2) By Component: Hardware, Software, Service
3) By Platform: Airborne, Naval, Land, Space
4) By Frequency Band: High Frequency (HF), Very High Frequency (VHF), Ultra-High Frequency (UHF), Other Bands
5) By End-Users: Aerospace And Defense, Telecommunication, Public Safety, Commercial, Other End-Users
Major Driver - Rising Defense Spending Enhances Software-Defined Radio Market Strengthening Defense Communication Systems
The rising defense spending to upgrade defense communication systems is expected to propel the software-defined radio market. The defense sector provides soldiers with technological advantages that enable them to work tactfully in wartime by providing them with enhanced data transmission capability, voice clarity, and data transmission accuracy systems. These advanced communication systems aid in the protection of sensitive data throughout the defense sector. Furthermore, as cross-border disputes and terrorism become more prevalent, investments in defense communication are increasing. These factors would likely increase the use of advanced communication systems for greater security and safety. For instance, in September 2021, the Government of the UK, have invested $131.67 million (£ 110 million) for frontline radio communications. Furthermore, In November 2021, the Defence Acquisition Council of India (DAC) approved the investment of $307.12 million (Rs. 2000 crores) to boost military communications. Therefore, the increase in defense spending on defense communications systems will drive the software-defined radio market growth.
Competitive Landscape:
Major companies operating in the software defined radio market report are Elbit Systems Ltd., L3Harris Technologies Inc., BAE Systems plc, General Dynamics Corporation, Leonardo S. p. A., Aselsan A. S., Bharat Electronics Limited, Cobham plc, Collins Aerospace, Curtiss-Wright Corporation, Data Link Solutions LLC, Epiq Solutions, FlexRadio Systems, Giga-tronics Inc., L3Harris Technologies Inc., Huawei Technologies Co. Ltd., Indra Sistemas S. A., Israel Aerospace Industries Ltd., LIG Nex1 Co. Ltd., Microtelecom S. r. l., NXP Semiconductors N. V., Pentek Inc., Rafael Advanced Defense Systems Ltd., Raytheon Technologies Corporation, Rockwell Collins Inc., Rohde & Schwarz GmbH & Co. KG, Rolta India Limited., SDRplay Limited., Signal Hound, Silvus Technologies Inc., Thales Group, Ultra Electronics Holdings, VectorNav Technologies, ViaSat Inc., Wind River Systems Inc.
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Top Trend - Innovative Technological Advancements Drive The Software-Defined Radio Market Redefining Communication Solutions
Technological development is a key trend gaining popularity in the software-defined radio market. Software-defined radio technology has advanced significantly. The market has witnessed hardware advancements that have reduced costs while increasing performance. These technologies offer significant advantages over traditional radio designs based on hardware. These radios are used in various applications that use software-defined radio processing. Major companies operating in the software-defined radio market are creating innovative technologies to provide hassle communications. For instance, In September 2021, Domo Tactical Communications, a US-based communications equipment company, launched a 2x1W software-defined radio and WUI. This SDR2x1W-P is intended to meet the needs of unmanned platforms by offering a higher-longer range, encrypted links for the reliable transfer of video, audio, data, and general IP network traffic in real-time environments.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Software Defined Radio Market Characteristics
3. Software Defined Radio Market Trends And Strategies
4. Software Defined Radio Market - Macro Economic Scenario
5. Software Defined Radio Market Size And Growth
…..
27. Software Defined Radio Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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