The global software defined radio market is estimated at $ 16,455.8 million by 2027, increasing from $ 11,750.6 million in 2019 with a healthy CAGR of 4.4%.
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Analysis of the impact of COVID-19 on the software-defined radio market
The global software-defined radio market is expected to experience declining growth during the COVID-19 pandemic. The slowdown in growth is expected to be due to the disruption in the global product and transport supply chain. Restricting the work of people in companies has reduced production speed and efficiency.
In addition, companies working in the production of software-defined radio adopt strategies such as agreements and partnerships to grow their business during the pandemic period. It is assumed that such factors will have a positive impact on the global software radio market. For example, in April 2020, a large US defense company, L3Harris Technologies, based in Florida, USA, entered into an agreement with the US military to supply AN / PRC-158 multi-channel radios to the US military. These radio systems are designed for effective battlefield communication.
Global software defined analysis of the radio market
The growing need to upgrade existing radio communication systems and their technological improvement is expected to stimulate the growth of the global software-defined radio market. Deployment technologies such as the Internet of Things (IoT) in wireless devices have a positive impact on the growth of software-based radio technology (SDR). The growing need for secure communication in various industries such as telecommunications, aerospace, healthcare and others is increasing the use of SDR technology in these industries. These factors are expected to stimulate market growth.
The high initial cost of software-defined radio can only be provided by large defense forces and large companies, as there is a large capital investment needed by businesses to develop SDR technology. This factor can hinder market growth.
The growing popularity of SDR technology in the field of satellite communication and space communication is expected to create new opportunities for the global software-specific radio market. Major telecommunications companies and global space research organizations such as NASA use SDRs to optimize the data capabilities of communications and navigation systems. For example, in April 2019, a British aerospace and defense technology company based in Farnborough, UK, BAE Systems, introduced a new software-defined radio assembly of orbit reprogramming and signal processing for commercial and space applications to the US Department of Defense. Such technological advances could further lead to lucrative market opportunities in the global software-defined radio market in the coming years.
Global software defined radio market, segmentation
The global software-defined radio market is segmented based on bandwidth, component, platform, end user and region.
Frequency range:
The band segment is further classified into a high frequency, very high frequency, and ultrahigh frequency network. Among them, the very high frequency subsegment is expected to have the fastest market growth and generate 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 due to the increase in commercial air and shipping traffic, which has increased the use of maritime and air traffic management systems, as very high frequency systems are used in the control of air and sea traffic. The increase in the number of air traffic control systems is expected to contribute to the expansion of the sub-segment.
Component:
The component segment is a subcategorized transmitter, receiver, software and auxiliary system. The transmitter sub-segment is expected to have a dominant market share in the global market and to record revenues of USD 4,827.1 million in 2027, increasing from USD 3,529.9 million in 2019 over the forecast period and growing with a CAGR of 4.1%. The increase in demand for transmitters in industries such as oil and gas, mining systems, satellite communications and the growing demand and consumption of transmitters in the Asia-Pacific electronics industry is expected to stimulate demand for transmitters over the forecast period.
Platform:
The segment of the platform is further categorized on land, in the air, navy and space. The land subsegment of the global software-defined market is projected to have a maximum market share and is expected to exceed $ 5,276.7 million by 2027, with an increase of $ 3,710.1 million in 2019 and is expected to grow by CAGR of 4.6% in the forecast period. The growing number of cargo ships has led to the growth of ship traffic services worldwide. Ship traffic control centers are located in various ports around the world and use communication devices such as software-defined radio to monitor ships. The growth in demand for shipping services is expected to help the growth of the land subsegment.
End user:
Furthermore, the segment is categorized into defense and trade sub-segment. The defense sub-segment is projected to have the fastest growth rate in this segment and is expected to record revenue of $ 6,290.1 million by 2027, up from $ 4,139.9 million in 2019, up from a CAGR of 5 , 4% during the forecast period. The growing costs of developing countries to modernize their armed forces communication systems are facilitating the growth of the defense sub-segment. For example, according to the Stockholm International Peace Research Institute (SIPRI), an independent international organization for conflict, arms and disarmament research, developing countries China ($ 252 billion) and India ($ 72.9 billion) in 2020. increased their defense spending are among the top three major countries with the highest military spending. These factors are expected to help the growth of the defense sub-segment over the forecast period.
Region:
The Asia-Pacific region is expected to have the fastest growth in the software-defined radio market for the forecast period. This market earned revenue of $ 2,929.5 million in 2019 and is expected to record revenue of $ 4,299.9 million by 2027. Thus, the software-defined radio market is expected to grow with a healthy CAGR of 5, 0%.
The growing pace of electronics production in emerging and developed countries such as India, China, Japan and others is facilitating the growth of this market in the region. In addition, the growth of the Asia-Pacific defense sector for the modernization of military communications systems is expected to drive the software-defined radio market in the Asia-Pacific region.
Key players in Global Software defined radio market
- Northrop Grumman.
- L3Harris Technologies, INC.
- General Dynamics Corporation
- BAE systems.
- Thales Group
- Leonardo SpA
- Elbit Systems Ltd.
- Rohde & Schwarz
- Texas Instruments Incorporated.
Along with the company profiles of key market players, the report includes the five-force Porter model, which provides deep insights into the competitive market environment.
An analysis of Porter’s five forces for the global Software defined radio market:
- Market power of suppliers: The providers of the software-defined radio market are numerous. Several companies are working on new product technologies to avoid switching suppliers if there is an increase in the price of a component.
Thus, the suppliers of contracting power are moderate. - Buyers’ market power: Buyers have moderate market power; they expect quality services at a price. This requires software-defined radio providers to offer the best service in a cost-effective way. In this way, buyers have the opportunity to choose the products that best suit their preferences.
Thus, the market power of buyers is moderate. - Threat from new entrants: The demand for software-defined radio markets is quite high, so it is a lucrative market. But the investment needed in this market is large, as it requires large-scale infrastructure development.
Thus, the threat to new entrants is moderate. - Threat from substitutes: There are currently a smaller number of alternative products for conventional SDR radio communication systems that can be used on a software-defined radio scale.
Thus, the threat of substitutes is low. - Competitive competition in the market: Competitive competition among industry leaders is high, mainly between global players, including General Dynamics Corporation, Northrop Grumman. And L3Harris Technologies. These companies launch their new products on the international market and strengthen their positions worldwide.
Therefore, competitive competition in the market is High.
Reference: https://www.researchdive.com/press-release/software-defined-radio-market.html
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