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Electronic Design automation Software market Growth
EDA software facilitates designers' needs at multiple levels of creation of designs for electronic systems, including integrated circuits (ICs),.
WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 20, 2024 /EINPresswire / -- According to a recent report published by Allied Market Research, titled,“Electronic Design Automation Software Market by Type and Application: Opportunity Analysis and
industry Forecast, 2020-2027,” the global electronic design automation software (EDA) market size was valued at $10.20 billion in 2019, and is projected to reach $20.89 billion by 2027, growing at a CAGR of 9.6% from 2020 to 2027.
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Electronic design automation (EDA) software offers tools that assist in the specification, design, verification, implementation, and test of electronic systems. These systems can be fabricated as either an integrated circuit, or multiple of them mounted on a printed circuit board. Electronic design automation tools have widely replaced manual methods for circuit board and semiconductor design techniques. Electronic design automation is also known as electronic computer-aided design.
Increase in demand for compact electronic components required for smart wearable devices, electronic gadgets & medical equipment, advancement in System on Chip (SoC), and surge in penetration of mobile & wireless devices, growing adoption of AI & IoT devices are the major factors that drive the growth of the electronic design automation software market. In addition, rise in need for remote accessibility also boosts the growth of the EDA software market. However, lack of expertise in virtualization is anticipated to hamper the EDA market growth. On the contrary, rise in demand for smaller electronic devices & increase in demand for machine learning in EDA to provide lucrative opportunities for the electronic design automation software market growth in the coming years.
The Semiconductor Intellectual Property (SIP) segment to dominate by 2027-
Based on type, the Semiconductor Intellectual Property (SIP) segment contributed to nearly one-third of the global electronic design automation software 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. On the other hand, 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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The consumer electronics segment to maintain the dominant share-
Based on application, the consumer electronics segment accounted for more than one-fifths of the global electronic design automation software 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. This factor drives the growth of the market in this segment. On the other hand, 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.
North America garnered the major share in 2019:
Based on geography, the market across North America, garnered the major share in 2019, holding nearly two-fifths of the global electronic design automation software market. North America has the highest rate of adoption of advanced technologies such as AI, cloud, and others. Thus, adoption of machine learning integrated Electronic Design Automation (EDA) Software by the electronics manufacturers is boosting the growth of this market . At the same time, the Asia-Pacific region would also showcase the fastest CAGR of 11.6% during the forecast period. This is due to the ever growing smartphone penetration, increasing popularity of smart wearable devices, growing electronic manufacturing companies in countries such as China, India, and Japan.
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Key players in the industry-
Autodesk
Cadence Design Systems Inc.
Keysight Technologies
Mentor, a Siemens Business
Silvaco Inc.
Synopsys
Aldec Inc.
Altair
Altium LLC
ANSYS Inc.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of“Market Research Reports” and“Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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