DUBLIN, Nov 22, 2016 /PRNewswire/ -- Research and Markets has announced the addition of the "Software Defined Radio Market by Application (Defense, Commercial, Homeland Security), Component (Software, Transmitter, Receiver), End User (Military, Transportation), Type (JTRS, Cognitive/Intelligent Radio, TETRA) - Global Forecast to 2021" report to their offering.
The software defined radio market is estimated to be USD 16.24 Billion in 2016, and is projected to reach USD 29.12 Billion by 2021, at a CAGR of 12.39% from 2016 to 2021. Software defined radio has also been an increasing focus by the military on including commercial off-the-shelf (COTS) radios. These are the part of software defined radio systems in order to improve command and control of troops stationed in the battlefield, as well as to enhance situational awareness of the battlefield. On the basis of application, the software defined radio market has been segmented into defense, commercial, and homeland security. The commercial segment in the software defined radio market is projected to grow at the highest CAGR during the forecast period. This growth is attributed to the increasing adoption of software defined radio, VSATs, and other tactical communication devices in the Middle East, the U.S., and Asia-Pacific. On the basis of component, the software defined radio market has been segmented into software, transmitter, and receiver. The software segment is projected to grow at the highest CAGR during the forecast period. Defense forces are investing heavily on software of communication devices to modernize the communication systems according the advanced requirements of the modern warfare. This is due to the presence of major 82 software companies in the Americas; such as Microsoft Corporation (U.S.), Oracle Corporation (U.S.), and Symantec Corporation (U.S.), among others.