Electronic Design Automation Software
Rising demand for electronic devices consisting of semiconductors such as refrigerators, smartphones & laptops among consumers is expected to drive the market.
PORTLAND, PORTLAND, OR, UNITED STATE, June 22, 2023/EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Electronic Design Automation Software Market Size Reach USD 20.89 Billion by 2027 | Top Players Such as- Altair, Altium & 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 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.
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.
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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.
The key players operating in the global electronic design automation software market analysis include 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 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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