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Software Defined Radio Market Size
- Report ID: GMI8856
- Published Date: Apr 2024
- Report Format: PDF
Software Defined Radio Market Size
Software Defined Radio Market was valued at USD 16.2 billion in 2023 and is estimated to register a CAGR of over 6% between 2024 & 2032. Estimated growth is attributed to companies providing comprehensive supporting services. With the evolving SDR (software defined radio) technology, businesses are increasingly seeking specialized services encompassing system integration, customization, training, and maintenance. For instance, in March 2024, Omni Design Technologies, a prominent supplier of high-performance, low-power mixed-signal intellectual property (IP), introduced its silicon IP solutions tailored for cutting-edge FinFET nodes for targeting advanced SDR applications.
The increasing contracts from prominent companies for catering to military requirements is another factor driving the market growth. As defense agencies worldwide seek advanced communication solutions, SDR technology is emerging as a vital component in modernizing military communication systems. Leading companies supplying to military demands are securing contracts to deliver SDR solutions tailored to meet the stringent requirements of defense applications. These contracts often entail the development of specialized SDR platforms equipped with encryption capabilities, wideband communication support, and robust signal processing features. For instance, in July 2023, Indian Alpha Design Technologies Limited (ADTL), secured an order to deliver 400 domestically produced Software-Defined Radios for installation on armored vehicles deployed by the Indian Army in frontline regions.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Software Defined Radio Market Size in 2023: | USD 16.2 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 6% |
| 2032 Value Projection: | USD 27.8 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 250 |
| Tables, Charts & Figures: | 300 |
| Segments covered: | Component, Radio, Platform, Frequency Band, End-user |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The market, despite its remarkable growth and potential, faces several restraints that impede its full realization. Firstly, interoperability challenges arise due to the diversity of protocols and standards across different regions and industries, hindering seamless communication. Secondly, security concerns are looming large, as the flexibility of SDR makes it susceptible to cyber threats and vulnerabilities, necessitating robust encryption and authentication measures. Additionally, high initial deployment costs are deterring widespread adoption, particularly among smaller organizations and developing regions.
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Software Defined Radio Market Scope
