LONDON, Nov. 24, 2016 /PRNewswire/ -- "The software defined radio market is projected to grow at a CAGR of 12.39%" 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% between 2016 and 2021. 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. "Defense segment to account for the dominant share in the software defined radio market" 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 accounted for a dominant share, whereas BRICS is the fastest-growing regional market for software defined radio" G7 Nations dominates 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. Break-up of profile of primary participants for this report: - By Company Type: Tier 1 - 35%, Tier 2 - 45% and Tier 3 - 20% - By Designation: C level - 35%, Director level - 25%, Others - 40% - By Region: North America - 45%, Europe - 20%, Asia-Pacific - 30%, RoW - 5% Key players profiled in the software defined radio market report include Northrop Grumman Corporation (U.S.), BAE Systems Plc. (U.K.), Elbit Systems Ltd ( Israel), Thales Group ( France), and L-3 Communications Holdings, Inc. (U.S.), among others. Research Coverage: The study segments the software defined radio market on the basis of application (defense, commercial, and homeland security), component (transmitter, receiver, and software), type (JTRS, cognitive/intelligent radio, TETRA), end user (military, telecommunication, transportation) and map these segments and subsegments across major regions worldwide, namely, G7 Nations, BRICS, and RoW (Rest of the World). The report provides in-depth market intelligence regarding market dynamics and major factors that influence the growth of the global software defined radio market (drivers, restraints, opportunities, and industry-specific challenges), along with analyzing micromarkets with respect to individual growth trends, future prospects, and their contribution to the software defined radio market.