DUBLIN--(BUSINESS WIRE)--The "Cognitive Radio Market by Component (Software Tools, Hardware, and Services), Application (Spectrum Sensing, Spectrum Analysis, Spectrum Allocation, Location Tracking, and Cognitive Routing), End-User, and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The global cognitive radio market is expected to grow from USD 3.45 Billion in 2017 to USD 7.44 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 16.6% during the forecast period.
The main driving factors for the market growth are the increasing adoption of the 5G technology and technological advancements in the wireless communication field.
North America is estimated to be the largest revenue-generating region during the forecast period. This is mainly because in the developed economies of the US and Canada, there is a high focus on innovations obtained from Research and Development (R&D). These regions have the most competitive and rapidly changing cognitive radio market in the world. The APAC region is expected to be the fastest-growing region in the cognitive radio market. Increased awareness about effective spectrum utilization, and business productivity supplemented by the competently designed cognitive radios offered by the vendors present in the APAC region have led APAC to become a highly potential market.
The major issues faced by most of the organizations while incorporating the cognitive radio technology in the wireless communication ecosystem are security concerns, dynamic communication standards, and issues related to interoperability.
The leading cognitive radio vendors are BAE Systems (London, UK), Raytheon Company (Massachusetts, US), Thales Group (Paris, France), Rhode & Schwarz (Munich, Germany), Spectrum Signal Processing (Burnaby, Canada), xG Technology (Florida, US), Nutaq (Quebec, Canada), Ettus Research (California, US), Shared Spectrum Company (Virginia, US), DataSoft (Arizona, US), EpiSys Science (California, US), and Kyynel (Oulu, Finland).
Market Dynamics
Drivers
- Technological Advancements
- Optimized Spectrum Utilization
- Increasing Adoption of the 5G Technology
Restraints
- Security Concerns
Opportunities
- Rising Adoption of the Cognitive Radio Technology in Government and Defense Organizations
- Increasing Demand for the Cognitive Radio Technology in Commercial Applications
Challenges
- Dynamic Communication Standards
- Overcoming Issues Related to Interoperability
For more information about this report visit https://www.researchandmarkets.com/research/tgpmzp/global_cognitive?w=4
