In the era of the evolving electronics industry, Electronic Design Automation (EDA) Market has come to play an increasingly pivotal role. The trend of miniaturization of semiconductors has allowed manufacturers to utilize electronic components in applications such as surgical devices and smart fitness products. Development of such devices is generating a high demand for the electronic design automation (EDA) market. The rising awareness and acceptance of smart fitness devices are encouraging electronic design companies to invest in the innovative design tools for developing enhanced products. Manufacturers are investing massively to develop several new miniaturized products to enhance the customer experience. Researchers are focusing on developing cost-effective and reliable products with the use of electronic design tools.
The expansive growth of the semiconductor and IoT sectors is also slated to bring forth viable growth avenues for electronic design automation (EDA) industry, as the time to volume ratio of new electronic products has been drastically reduced. For instance, while it took the color television industry 10 years to reach maturity, the mobile phone industry reached maturity within just 2 years of the product’s introduction. As semiconductor manufacturers continue to enhance production processes and new device manufacturing processes, electronic design automation (EDA) market is likely to witness increased profits. Global Market Insights, that forecasts the electronic design automation market will witness a transformation of sorts and surpass $14 billion by 2024.
How is the Electronic Design Automation (EDA) Market progressing globally?
Asia Pacific electronic design automation market is expected to witness commendable growth over the forthcoming years. This progress can be chiefly attributed to the prevalence of a considerable number of lifestyle electronics manufacturers and smartphone consumers. The increased penetration of broadband and the rise of IoT are also certain to contribute their bit toward driving the regional electronic design automation market share over 2017-2024. Furthermore, the region encompasses an abundance of raw materials and possesses the advantage of low-cost labor. Tech-savvy consumers with increasing disposable incomes would be primarily driving the semiconductor industry in Asia Pacific. In consequence, this trend is likely to impact APAC electronic design automation market.
Also, the North America electronic design automation (EDA) market will witness a high growth over the forecast timeframe owing to large-scale technological advancements. The region is a leading adopter and developer of new technologies such as 5G technology for smartphone users. In addition, presence of a developed broadband & wireless infrastructure and government support for the development of IoT-based technologies are driving smart consumer electronics industry thereby providing an impetus to the electronic design automation (EDA) market growth. Fast broadband services and the development of these infrastructures in remote and underserved locations are aiding the development of the IoT and smart electronics market in the region.
Segmentation of Electronic Design Automation (EDA) Market: –
Electronic Design Automation (EDA) Market Research Study is further segmented into Product and Application.
Product is classified into Computer Aided Engineering, IC Physical Design & Verification, Printed Circuit Board & Multi-Chip Module, Semiconductor Intellectual Property. The exponential rise in the adoption of consumer electronics such as smartphones, laptops and wearable devices has led to the adoption of the popular Semiconductor Intellectual Property (SiP) technology in the electronic design automation market. Driven by the widespread development of IoT and 4G networks, SiP electronic design automation (EDA) industry is likely to depict a profitable growth trend in the years ahead. The increasing complexity and improvement in the functionality of consumer electronics devices has also resulted in the rising intricacy in chip designs, further fueling electronic design automation (EDA) industry.
Application is classified into Aerospace & Defense, Automotive, Consumer Electronics, Industrial, Medical, Telecommunications. The telecommunication industry has been heavily influencing the growth of electronic design automation market, driven by the increased use of testing tools and the consistent delivery of seamless communication services. The launch of long-term evolution technology especially in countries such as China and India have also added an unprecedented stimulus to mobile devices market. In consequence, this has effectively augmented the revenue graph of electronic design automation industry, especially across the Asia Pacific region.
Companies in the electronic design automation (EDA) market include Solido Design Automation, Mentor Graphics, Silvaco International, National Instruments, Sigasi, Pulsonix, Keysight Technologies, JEDA Technologies, Invionics, Intercept Technology, Inc., CadSoft Computer, Cadence Design Systems, Zuken, Inc. Xilinx, Inc., and Synopsys, Inc. Several vendors are acquiring smaller software or technology-based companies to enhance their core business. Vendors are facing intense rivalry and to face that, they are required to invest immensely in R&D activities to withstand the electronic design automation market market growth.