The report predicts the global Software Defined Radio Market to grow with a CAGR of 4.4% over the forecast period from 2023-2033.
According to Research Dive analysis, the global software-defined radio market is estimated to generate a revenue of $16,455.8 million by 2033, surging from $11,750.6 million in 2023 at a healthy CAGR of 4.4%.
Impact Analysis of COVID-19 on the Global Software-Defined Radio Market:
The global software defined radio market experienced a reduced growth rate 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.
Despite the effect of the global pandemic, many companies operating in the market adopted focused and implemented business strategies as partnership and collaboration to expand their business.
Software-Defined Radio Market Analysis:
The global software defined radio (SDR) market has experienced a growth due to improved demand in the defense sector across the globe for advanced communication devices. In addition to this, the increasing application of the software defined radio technology in sectors such as commercial aviation and shipping is expected to drive the software defined radio market in the forecast period.
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The threat of security breach will be one of the restricting factors which can hamper the growth of the software defined radio market during the forecast period.
The increasing application of the SDR technology in domains such as satellite communication including the telecommunication industry and navigation systems is expected to increase the growth of the software defined radio market during forecast period.
Based on frequency band, the segment has been sub segmented into high frequency, very high frequency, ultra-high frequency. The high frequency sub-segment is anticipated to have a dominating market share in the global market and is estimated to register a revenue of $7,785.5 million during the forecast period in 2033.
Based on component: the segment is subcategorized into transmitter, receiver, software, and auxiliary system. The software sub-segment of the global software defined radio market is anticipated to have the fastest growth and expected to surpass $3,903.0 million by 2033.
Based on the platform, the segment is further sub- segmented into land, airborne, naval and space. The land sub-segment of the global software defined radio market is estimated to have maximum market share and is expected to exceed $5,276.7 million by 2033.
Based on the end-user, the segment is further categorized into defense and commercial sub-segment. The defense sub-segment is projected to have the fastest growth rate in this segment and is estimated to record a revenue of $6,290.1 million by 2033.
Based on geographical scope, the market was researched across North America, Europe, Asia-Pacific, and LAMEA. The Asia-pacific region is forecasted to have the fastest growth in the software defined radio market for the prediction period. This market generated a revenue of $2,929.5 million in 2023.
The companies involved in the global software defined radio market are General Dynamics Corporation, NXP Semiconductors, Texas Instruments Incorporated., Thales Group, Elbit Systems Ltd., BAE Systems. Northrop Grumman., L3Harris Technologies, INC., Leonardo S.p.A., Rohde & Schwarz.
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