Menu

About Us Industry Report Services Press Release Careers Contact Us

Software Defined Radio Market Anticipated to Generate a Revenue of $ 16,455.8 Million, Growing at a CAGR of 4.4% from 2020 to 2027

Download Sample    Reports Overview

The global software defined radio market is estimated to be valued at $16,455.8 million by 2027, increasing from $11,750.6 million in 2019 at a healthy CAGR of 4.4%.

Impact Analysis of COVID-19 on the Software Defined Radio Market

The global market for software defined radio is predicted to experience a reduction in growth during the COVID-19 pandemic. The reduction in growth is projected to be due to the disturbance in the global supply chain of products and transportation. The limitation of working of people in the companies has reduced the speed of production and the efficiency.

Moreover, companies operating in the production of software defined radio are adopting for strategies such as agreements and partnerships to grow their business during the pandemic period. Such factors are predicted to positively impact the global software defined radio market. For instance, in April 2020, a major American Defense manufacturing firm L3Harris Technologies headquartered in Florida U.S, made an agreement with the U.S. Army contract to supply AN/PRC-158 multi-channel radios to the U.S armed forces. These radio systems are made for effective communication the battlefield.

Global Software Defined Radio Market Analysis

The growing need for upgradation of existing radio communication systems and making them more technologically advanced is expected to drive the growth of the global software defined radio market. The implementation technologies such as Internet of Things (IoT) in wireless devices is positively impacting the growth of software defined radio (SDR) technology. The growing need of secure communication in diverse industries such as telecom, aerospace, healthcare, and others are increasing the utilization of SDR technology in these industries. These factors are predicted to drive the growth of the market.

The high initial cost of software defined radio can only be afforded by large defense forces and big companies as there is high capital investment required by businesses for development of the SDR technology. This factor can hamper the growth of the market.  

The increasing prominence of SDR technology in the field of satellite communication and space communication is expected to create new opportunities for the global software defined radio market. The major telecommunication companies and global space research organizations such as NASA are using SDRs for optimization in the data capabilities of communication and navigation systems. For instance in April 2019, a British aerospace and defense technology firm headquartered in, Farnborough, United Kingdom, BAE Systems, unveiled new software-defined radio assembly on-orbit reprogramming and signals processing for commercial and US Department of Defense space applications. Such technological advancements may further lead to lucrative market opportunities in the global Software defined radio market in the upcoming years.

Global Software-Defined Radio Market, Segmentation

The global Software defined radio market is segmented based on frequency band, component, platform, end user, and region.

Frequency Band:

The frequency band segment is further classified into web high frequency, very high frequency, and ultra-high frequency. Among these, very high frequency sub-segment is expected to have the fastest market growth and generate a revenue of $5,454.0 million by 2027, growing from $3,752.4 million in 2019 and is expected to grow with a CAGR of 4.9%. The growth of the very high frequency sub-segment is credited to the increase in the commercial aviation and shipping traffic that has increased the utilization of marine and air traffic control systems, as very high frequency range waves are utilized in the air and marine traffic control systems. The increase in the number air traffic control systems is expected to contribute to the expansion of the sub-segment.

Component:

The component segment is sub-categorized transmitter, receiver, software, and auxiliary system. The transmitter sub-segment is anticipated to have a dominating market share in the global market and register a revenue of $4,827.1 million in 2027 rising from $3,529.9 million in 2019 during the forecast period and is growing with a CAGR of 4.1%. The increase in the demand of transmitters in industries such as oil and gas, mining systems, satellite communication and growing demand and consumption of transmitters in the electronics industry of Asia-Pacific region is anticipated to propel the demand of transmitters in the forecast period.

Platform:

The platform segment is further categorized into land, airborne, naval and space. The land sub-segment of the global software defined radio market is forecasted to have the maximum market share and is expected to exceed $5,276.7 million by 2027, with an increase from $3,710.1 million in 2019 and is anticipated to grow with a CAGR of 4.6% in the forecast period. The growing number of cargo ships for transportation has driven the growth of vessel traffic services worldwide. The vessel traffic control centers are located in the different ports across the globe and make use of communication devices such as software defined radio for supervising of the vessels. The growth in the demand of vessel services is projected to aid in the growth of land subsegment.

 End User:

The segment is further categorized into defense and commercial subsegment. The defense subsegment is forecasted to have the fastest growth rate in this segment and is estimated to record a revenue of $6,290.1 million by 2027, rising from $4,139.9 million in 2019 growing with a CAGR of 5.4% during the estimated timeframe. The rising spending by the developing countries on upgradation of their armed forces communication systems is facilitating the growth of defense subsegment. For instance, as per the "Stockholm International Peace Research Institute (SIPRI)" an independent international organization for research into conflict, armaments, and disarmament the developing countries China ($252 billion) and India ($72.9 billion) in 2020, have increased their defense expenditure are among the top three major countries with highest military expenditure. These factors are expected aid in the growth of the defense subsegment in the estimated period.

Region:

The Asia-pacific region is anticipated to have the fastest growth in the software defined radio market for the forecast period. This market garnered a revenue of $2,929.5 million in 2019 and is projected to record a revenue of $4,299.9 million by 2027. Thus software defined radio market is projected to grow with a healthy CAGR of 5.0 %.

The growing rate of electronics production in the emerging and developed countries such as India, China, Japan, and others is facilitating the growth of this market in the region. In addition to this the surge in the defense sector in Asia-pacific region for upgradation of the military communication systems is expected to propel the software defined radio market in the Asia-pacific region.

Key Players in the Global Software-Defined Radio Market

Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.

Porter’s Five Forces Analysis for the Global Software-Defined Radio Market:

 

Have a question ?

Enquire To Buy

Need to add more ?

Request Customization