(MENAFN- EIN Presswire) Electronic Design automation Software Market
Factors propelling market's expansion are compact electronic devices & SoC technology across various industries, including automotive, IoT & AI.
PORTLAND, PORTLAND, OR, UNITED STATE, March 29, 2023 /einpresswire.com / -- Allied market Research published a new report, titled, "electronic design automation software market to Reach USD 20.89 Billion by 2027 | Top Players such as - Altair, Ansys and Aldec." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global electronic design automation (EDA) software market size was valued at USD 10.20 billion in 2019, and is projected to reach USD 20.89 billion by 2027, growing at a CAGR of 9.6% from 2020 to 2027.
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Rise in adoption of FinFET architecture for designing modern processors, advancement in SoC technology, and increase in penetration of IoT, AI, and VR technology fuel the growth of the global electronic design automation software market. On the other hand, availability of the open-source EDA software impede the growth to some extent. However, surge in demand for compact electronic devices and machine learning in EDA is expected to create lucrative opportunities in the industry.
The global electronic design automation software market is segmented into type, application, and region. By type, it is divided into Computer-aided Engineering (CAE), IC Physical Design and Verification, Printed Circuit Board and Multi-chip Module (PCB and MCM), Semiconductor Intellectual Property (SIP) and services. As per application, it is classified into communication, consumer electronics, automotive, industrial, Aerospace & defense, medical, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Based on application, the consumer electronics segment accounted for more than one-fifths of the market revenue in 2019, and is anticipated to dominate by 2027. EDA tools are increasingly used by consumer electronics manufacturers owing to the compact designs of new electronic items. The automotive segment would exhibit the fastest CAGR of 11.3% from 2020 to 2027. The fact that automotive field is offering great growth prospects to the Computer Aided Engineering (CAE) and semiconductor IP industries further drives the market growth.
Based on type, the Semiconductor Intellectual Property (SIP) segment contributed to nearly one-third of the market share in 2019, and is expected to lead the trail by the end of 2027. The need of EDA software to offer pre-verified and customizable IP subsystems, architecture design expertise, hardening, signal/power integrity analysis, and IP prototyping kits drive the growth of the segment. The IC Physical Design and Verification segment would also register the fastest CAGR of 12.7% throughout the forecast period, owing to factors such as need for custom IC layout editing, support for the physical implementation of custom digital, analog and mixed-signal designs for device, cell, block , and full chip levels.
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As per region, the market was dominated by North America in 2019. The major presence of leading market vendors developing electronic design automation software and early adoption of advanced technology such as IoT & AI in North America are the major drivers for the electronic design automation software market growth. In addition, increase in demand from sectors, such as automotive, medical, and communications, among other industry verticals in North America further propels the market growth in this region.
The global electronic design automation software market analysis includes some of the key market players such as ANSYS, Inc., Altair, Altium LLC, Aldec, Inc., Autodesk, Cadence Design Systems, Inc., Keysight Technologies, Mentor (a Siemens Business), Silvaco Inc. and Synopsys.
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Impact of COVID-19 Pandemic on Electronic Design Automation Software Market:
● The outbreak of the pandemic led to decline in investments and funding in the electronic design automation industry. In addition, factors such as decrease in semiconductor industry revenues, the slowdown in production, and shortage of raw material supply have further impacted the industry.
● Nevertheless, the government bodies in all across the world are now implementing unlock procedures to aid the market players in terms of economy. With this drift on board, the industry is anticipated to recover soon.
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