Cognitive radio technology has many benefits such as it improves satellite communications, overcoming radio spectrum scarcity, and provides enhanced quality of service, owing to which it is being adopted by industry verticals, which drives cognitive radio market growth.
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In addition, it also uses a number of technologies such as software defined radio (SDR) and adaptive radio to replace traditional hardware components including mixers, modulators, and amplifiers with intelligent software.
Major players include BAE Systems, DataSoft, EpiSys Science, Ettus Research, Nutaq, Shared Spectrum Company, Thales Group, and xG Technology.
Optimized spectrum utilization and technological advancements in cognitive radio are the key factors that drive the market growth. In addition, increase in adoption of 5G technology among various industries fuels the growth of the market. However, lack of awareness among industry experts and high implementation cost can hamper the market growth. Furthermore, integration of machine learning and AI intelligence with cognitive radio technology to make systems more efficient is expected to provide lucrative opportunities for the market.
5th generation wireless systems are gaining traction among end users, which drives growth of the market. Due to 5G wireless systems there is a need to optimize spectrum usage and reduced power consumption and cognitive radio technology help to do the same, which is anticipated to drive the global cognitive radio market growth.
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North America is anticipated to have the highest market share, owing to the early adoption of cognitive radio technology by industry verticals and presence of prominent players in the U.S. In addition, Asia-Pacific is anticipated to witness the highest growth during the forecast period, owing to rise in adoption of mobile devices in developing countries such as China, India, and Japan. Internet use in the region is rising exponentially. Network slicing further helps telecom operators to manage rise in network traffic by creating multiple virtual network slices, which would ensure the market growth.
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