The global software market, defined by software, is expected to witness huge growth in the forecast period due to the growing demand for advanced communication systems in the defense sector. North America is expected to hold the largest market share by 2027.
NEW YORK,, August 27, 2021 / PRNewswire / – Research Dive added a new report to its offer entitled “Software defined radio market in frequency range (high frequency, very high frequency and ultrahigh frequency), component (transmitter, receiver, software and auxiliary system), platform (terrestrial, air, naval and space), end user (Defense and trade) and regional analysis (North America,, Europe,, Asia-Pacific regionand LAMEA): Global Industry Opportunity Analysis and Forecast, 2020-2027. “
Research Dive in its latest published report estimates that Global software defined radio market will generate $ 16,455.8 million and expose a CAGR of 4.4% from 2020 to 2027.
Demand for an advanced military communications system is growing as military spending increases around the world. In addition, a number of commercial sectors, such as freight, transportation, oil and gas exploration, and others, are increasingly adopting software that enables radiocommunications because of its advantages. It is assumed that these factors will stimulate the growth of the world market during the forecast period. However, the risk of security breaches in SDRs is expected to hamper market growth over the forecast period.
Impact of the COVID-19 pandemic on the market
The COVID-19 pandemic adversely affected the global radio market defined during the pandemic. The slowdown in market growth is mainly due to disruptions in transport and the supply chain to prevent the spread of the coronavirus. In addition, various sectors such as commercial aviation, shipping and others have been affected by the pandemic, which has led to a reduction in the use of software-defined radio stations in these sectors. However, many of the leading companies in the market adopt strategies such as partnerships and agreements to support their business during the experience.
Main market findings:
The study report segments the global software market, defined by software, into bandwidth, component, platform, end user, and region.
Based on the bandwidth, the high – frequency subsegment is expected to estimate for $ 7,785.5 million by 2027 and will be subordinated to global industry throughout the forecast period. This is mainly due to the growing demand from the navy for radiocommunication systems.
Based on a component, the software sub-segment is expected to outperform $ 3,903.0 million and witness the fastest growth over the forecast period. This growth may be mainly due to the growing demand for digitalisation in various industries, such as defense, telecommunications, banking, government, manufacturing, healthcare and retail for specific operations.
Based on the platform, the sub-segment in the air is reported $ 3,298.2 million in 2019 and is expected to grow rapidly until 2027. Growing demand from the commercial and defense aviation sector for SDR systems is expected to contribute to the growth of the sub-segment market.
Based on the end user, the trading sub-segment is expected to hold the largest market share, growing at a CAGR of 3.8% over the forecast period. The growing use of communication systems in various industries such as infrastructure, oil and gas and others stimulates the growth of the sub-segment market.
Based on the region, North America market for software defined radio for $ 3,733.2 million and is expected to maintain a dominant position in global industry until 2027. The presence of an established defense industry and countries with high military spending, such as the United States, are factors that are expected to accelerate the growth of the regional market in the coming years.
The most famous players in the market of software-defined radio industry
L3Harris Technologies, INC.
General Dynamics Corporation
Elbit Systems Ltd.
Rohde & Schwarz
Texas Instruments Incorporated
These players focus on product launches, partnerships and strategic collaboration to win competition in the global market. For example, in April 2020, L3Harris Technologies, a U.S. technology company, defense contractor and information technology service provider, received a third initial production order (LRIP) from the U.S. Army under HMS IDIQ (Handheld, Manpack and Small Form-Fit IDIQ) rated at $ 95 million. The US military’s goal is to bring AN / PRC-158 radio-refused (SDR) software to the battlefield. According to the company, the military expects to purchase approximately 65,000 HMS Manpack radios under IDIQ.
In addition, the report offers other key details about leading players, such as business tactics, financial results and the range of products / services of these players, along with an analysis of the five forces of Porter and a SWOT analysis.
More for Software defined radio
Related trend topics:
About Research Dive:
Research Dive is a market research company based in Pune, India. Maintaining the integrity and authenticity of the services, the company provides services that are based solely on its exclusive data model, forced by a 360-degree research methodology that ensures complete and accurate analysis. With unprecedented access to several paid data resources, a team of expert researchers and a strict work ethic, the company offers extremely accurate and reliable insights. By reviewing relevant news releases, government publications, decades of commercial data and technical and technical documents, Research dive provides the necessary services to its customers within the required timeframe. Her experience is focused on researching niche markets, focusing on its main drivers and identifying threatening barriers. Additionally, he also has a seamless collaboration with the big industry enthusiast, who further offers the benefits of his research.
Mr. Abhishek Palival
30 Wall St. 8th floor, New York, New York 10005
(P) + 91- (788) -802-9103India)
View original content:https://www.prnewswire.com/news-releases/global-software-defined-radio-market-to-generate-16-455-8-million-and-exhibit-a-cagr-of-4-4- from-2020-to-2027 — exclusive-report-282-pages-on-research-diving-301364155.html
SOURCE Research diving