Report sees SDR market growth at over 12 percent CAGR

November 21, 2016 //By Jean-Pierre Joosting
Market research firm, ReportsnReports estimates that the software defined radio market is worth USD 16.24 billion in 2016, and is projected to reach USD 29.12 billion by 2021, at a CAGR of 12.39% dominated by the defense industry. G7 nations accounted for a largest share and BRICS is the fastest-growing regional market for software defined radio.

Demand for advanced communication systems to replace legacy equipment, network interoperability, compatibility of devices with future standards, universal connectivity, and reduced cost of end products and services are some the major factors driving the software defined radio market. However, high development cost and integration issues have been restraining the market growth.

The defense segment dominates the software defined radio market. The global defense forces are investing heavily in new technologies to modernize their forces and determine the best technology that offers exceptional performance in the long run with lesser development cost.

G7 nations dominate the software defined radio market. The market in the region is mainly driven by the increasing demand for SDR across various sectors, such as military, public safety, and commercial. BRICS is expected to exhibit the highest growth rate in the software defined radio market during the forecast period. This growth can be attributed to the growing global demand for military equipment, which is boosting the investments related to the retooling of the existing processes and expanding the technical capacities of the SDR market, particularly in Asia.