The Electronic Design Automation Market accounted to US$10.31 Bn in 2018 and is expected to grow at a CAGR of 12.0% during the forecast period 2019 – 2027, to account to US$28.27 Bn by 2027.
The major reason for this is the huge electronics and semiconductor hub in China coupled with the large population density of the region. Also China accounts for the largest shipments for semiconductors across the world, the new market initiatives and strategic partnerships are expected to continue during the forecast period, contributing to high growth of electronic design automation market in the region
Rising complexities and cost challenges faced by the industries for implementation of expensive complex designs is key influencer driving the demand of advanced EDA (Electronic Design Automation) tools. The EDA software are specifically designed for electronic systems that includes printed circuit boards and integrated circuits. The tools offered by this software function collaboratively in a design flow, which is further used by the chip designers for designing an analysis of entire semiconductor chips. As the modern semiconductor chips comprises of myriad components and complex designs, the EDA tools have become an essential for the designers.
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Europe is anticipated to witness the fastest growth rate over the forecast period. Europe being a technologically advanced region, bags immense investment opportunities. Further, the growth in innovation and research on electronic devices in Europe is projected to remarkably contribute towards the growth of EDA market during the forecast period. Further, robust automotive industry and ongoing technological developments is opportunistic for the market in the region.
The market in the recent years witnessed several partnerships amid end-user industries. The trail of partnerships in the EDA software market in past few years has therefore paved the growth opportunity for market. For instance in November 2018, Keysight Technologies, Inc. partnered with ON semiconductor for facilitating EDA services in order to empower its devices. Furthermore, in June 2018 Siemens had announced its partnership with Synopsys, Inc. on a wide range of electronic design automation (EDA) product interoperability projects for the benefit of their mutual customers. The collaboration spans a number of EDA domains from design to verification.
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Key findings of the study:
- Asia-Pacific is anticipated to account the largest electronic design automation market share and would register a CAGR of 13.0%
- Based on the type, SIP is projected to dominate the electronic design automation market
- Consumer electronics led the electronic design automation market by application in 2018
The companies operating in the field of electronic design automation include Agnisys Inc., Aldec, Inc., Autodesk, Inc., Cadence Design Systems, Inc., Labcenter Electronics Ltd., Keysight Technologies, Mentor Graphics Corporation, Silvaco, Inc., Synopsys, Inc., and Zuken Inc. among others. Various other companies operating in the market and are coming up with new technologies and offerings which is helping the market for electronic design automation to expand over the years.
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