The global Software Defined Radios market size was USD 12.45 billion in 2020. The market is projected to grow from USD 11.60 billion in 2021 to USD 16.20 billion in 2028 at a CAGR of 5.3% in the 2021-2028 period. Additionally, it identifies areas that have witnessed the highest demand and applications for the product in recent years. Besides this, some of the leading products, major companies, and major recent industry developments have been highlighted in this report. Moreover, rising investment in the research and development in different technologies will further favor the activities of the companies operating in this market.
Regional Analysis-
The Asia Pacific to Emerge Dominant Owing to Rising Demand for Advanced Military Equipment
On the basis of geographical segmentation, the largest software-defined radio market share is generated by the Asia Pacific owing to the increasing demand for advanced technologies and new product development. This, coupled with the rising demand for advanced military equipment, will help this region continue its dominance of the market in the forecast period. On the other hand, the market in North America is expected to generate notable revenue on account of the expansion of the telecom industry and the increasing adoption of advanced technological products. Furthermore, the European market will also gain momentum in the coming years attributing to the presence of major players such as Thales Group, BAE Systems, Leonardo, and others in Italy, France, and the United Kingdom.
Competitive Landscape-
Collaborative Strategies are an Increasing trend Among Major Companies
Players functioning in the market for software-defined radios are engaging in collaborative strategies such as mergers and acquisitions, contracts and agreements, and others to gain a competitive edge in the market. Other players are focusing on gaining contracts with the government of various nations for providing services to the military and defense sectors. This will also help players earn notable revenue and make their mark in the competition.
Read Full Report (Info Source) -
https://www.fortunebusinessinsights.com/software-defined-radios-market-102524
