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The rapid advancement of wireless communication combined with insufficient spectrum exploitation opens the door for the expansion of novel wireless services. Cognitive radio network (CRN) technology makes it possible to periodically access the open spectrum bands, which in turn improves the effectiveness of CRNs. Spectrum sensing (SS), which allows unauthorized users to locate open spectrum bands, plays a fundamental part in CRNs. A precise approximation of the power spectrum is essential to accomplish this. On the assumption that each SU’s parameter vector contains some globally and partially shared parameters, spectrum sensing is viewed as a parameter estimation issue. Distributed and cooperative spectrum sensing (CSS) is a key component of this concept. This work introduces a new component-specific cooperative spectrum sensing model (CSCSSM) in CRNs considering the amplitude and phase components of the input signal including Component Specific Adaptive Estimation (CSAE) for mean squared deviation (MSD) formulation. The proposed concept ensures minimum information loss compared to the traditional methods that consider error calculation among the direct signal vectors. The experimental results and performance analysis prove the robustness and efficiency of the proposed work over the traditional methods.