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 detection, spectrum analysis, spectrum allocation, location tracking and cognitive routing), end user and region – global Forecast to 2022 “, published by MarketsandMarkets ™, the size of the cognitive radio market is expected to grow from $ 3.45 billion in 2017 to $ 7.44 billion by 2022 with a complex annual growth rate ( CAGR) of 16.6% over the forecast period.
Technological advances in wireless communications, optimized spectrum use and the growing adoption of 5G technology are some of the main factors expected to stimulate the growth of the global cognitive radio market. In addition, the growing adoption of cognitive radio engineering in government and defense organizations and the growing demand for cognitive radio technology in commercial applications are expected to provide significant opportunities for growth in the cognitive radio market.
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Government and defense consumers are expected to make the largest contribution to the cognitive radio market during the forecast period.
Governments around the world are focused on developing and implementing modern communication technologies, such as cognitive radios and software-defined radio (SDR), to meet the demands of the modern nature of war. In addition, public authorities, such as public safety and national security, are responsible for ensuring that citizens, organizations and institutions are protected against threats to their well-being and the prosperity of their communities. The main problem facing government agencies is the heavily congested radio frequencies allocated for emergency communication in many areas. Cognitive radio helps these public authorities deal with this problem by ensuring efficient and effective use of spectrum, as well as effective response to emergencies.
The managed services segment is expected to grow with a higher CAGR over the forecast period.
Demand for services is expected to increase with the development of the cognitive radio market, especially for managed services. The managed services segment is expected to have a faster growth rate over the forecast period. Managed service providers provide infrastructure services to third parties that help organizations manage their wireless communication devices. Managed service providers take care of all hardware and software features, 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 regions, showed maximum acceptance of cognitive radio technology due to its early application in most verticals. The region is expected to have the largest market share during the forecast period. The United States and Canada are expected to widely deploy cognitive radios for wireless communication.
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The main cognitive providers of radio are BAE Systems (London, UK), Raytheon Company (Massachusetts, USA), Thales Group (Paris, France), Rhode & Schwarz (Munich, Germany), Spectrum Signal Processing (Burnaby, Canada), xG Technology (Florida, USA), Nutaq (Quebec, Canada), Ettus Research (California, USA), Shared Spectrum Company (Virginia, USA), DataSoft (Arizona, USA), EpiSys Science (California, USA) and Kyynel (Oulu, Finland) ).
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