Organizations across the globe have started deploying cognitive radio systems to improve the wireless communication ecosystem, minimize losses, and gain a competitive market edge. MarketsandMarkets forecasts the cognitive radio market size 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 increasing adoption of the 5G technology and technological advancements in the wireless communication field are some of the major factors that are expected to drive the growth of the cognitive radio market.
The major vendors in the cognitive radio market 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). New product launches, partnerships, and contracts are the key strategies adopted by these market players to offer feature-rich products and services to their customers and penetrate deeper into the unserved regions.
BAE Systems is one of the leading vendors in the cognitive radio market. The company’s strategy is to provide highly competitive products and solutions in the cognitive radio market. Its efforts toward strengthening wireless communication solutions and services are evident from the fact that in September 2016, under a contract with the US Defense Advanced Research Projects Agency (DARPA), BAE Systems developed a new lightweight, handheld tactical sensor that can be easily carried by soldiers for better understanding the Radio Frequency (RF) signals and enhancing the situational awareness. In 2016, the company invested 7.96% of its total revenue in Research and Development (R&D) activities to enhance its product portfolio. In July 2017, BAE Systems received a contract from the US Special Operations Command (SOCOM) to provide new Electronic Warfare (EW) systems for its fleet of AC/MC-130J aircraft.
Another leading market player, Raytheon Company adopted the strategies of acquisitions and contracts to gain a leading position in the cognitive radio market. The company is striving to increase its geographic reach and customer base in the market. These strategies were supported by the company’s acquisition of Foreground Security in October 2015. The acquisition would help Raytheon Company expand its presence in the cybersecurity professional services and monitoring markets. Moreover, in June 2017, Raytheon received a development, operations, and maintenance contract named DOMino from the US Department of Homeland Security. Under the contract, Raytheon agreed to provide design, development, and maintenance services to the US Department of Homeland Security. Raytheon would also develop the National Cybersecurity Protection System, which would be enhanced with intrusion detection and threat intelligence capabilities.
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
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