Electronic Design Automation Services Market to Observe Strong Development of 14.1% CAGR by 2023 - SYNOPSYS, CADENCE DESIGN SYSTEMS, MENTOR GRAPHIC, MAGMA DESIGN AUTOMATION, ZUKEN, SIEMENS PLM SOFTWARE

The global electronic design automation (EDA) services market is anticipated to register a CAGR of 14.1% over the forecast period of 2018-2023.
The scope of the report includes insights about several services offered by major players. The segmentation by end user includes the automotive, manufacturing, healthcare, and aerospace & defense industries. The regions included in this study are - North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

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Key Developments in the Market
April 2018 - Cadence expanded its Virtuoso Platform, with enhanced system design, advanced node support down to 5 nm, and simulation-driven layout.

Major Players:
SYNOPSYS INC., CADENCE DESIGN SYSTEMS INC., MENTOR GRAPHIC CORPORATION, MAGMA DESIGN AUTOMATION LTD, ZUKEN INC, SIEMENS PLM SOFTWARE INC., KEYSIGHT TECHNOLOGIES, AGNISYS INC., ANSYS INC., ALTIUM LIMITED, APACHE DESIGN SOLUTIONS INC., amongst others.

Reasons to Purchase this Report
• Impact of the growing EDA tools industry.
• Analyzing various perspectives of the market, with the help of Porter’s five forces analysis.
• Growth across various end users, such as the healthcare, industrial, and automotive industries.
• Regional analysis of the market.
• Identify the latest developments, market shares, and strategies employed by the major market players.
• 3 months analyst supports along with the Market Estimate sheet (in excel).

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Services include consulting services for product installations, maintaining the existing tools, updating of EDA tools, and renewing licenses and subscriptions. The end users are also provided with training and support services. The growth of EDA services is mainly dependent on the demand for EDA tools, increasing automation in automobiles, and the robust growth of connected devices. These factors are expected to increase the demand for the electronic design tools market, thereby influencing the growth of the EDA services market.

North America Accounts for a Significant Share
Economic growth, favorable government policies, and increasing demand of consumer electronic devices in the US have bolstered the growth of the market. The increasing significance of IoT and the presence of prominent semiconductor device manufacturers like Intel, are expected to boost the growth of the market studied during the forecast period. Considering the above-mentioned factors, the rise of consumer electronic devices is expected impact the EDA tools market, thereby driving the growth of the EDA services market.

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