Future of Software Defined Radio: Key Drivers and Challenges
The software-defined radio market had a valuation of USD 12.45 billion in 2020. Projections indicate its growth from USD 11.60 billion in 2021 to approximately USD 16.20 billion by 2028, marking a Compound Annual Growth Rate (CAGR) of 5.3% for the 2023-2028 period. The COVID-19 pandemic's impact on a global scale has been unprecedented, and the software-defined radio sector experienced moderate demand effects across all regions during this crisis. Analysis reveals that in 2020, the market grew by 1.28%, a deviation from the average year-on-year growth observed between 2017 and 2019.