Electronic Design Automation (EDA) Market Scope Analysis by 2024 – Top Key Players are Airbus, Apple, BMW Group, GE, General Motors, HP, Honeywell, LG Electronics, Lockheed Martin, Samsung Electronics, Schneider Electric, Tesla, Thales, Toyota Motor Cor

Electronic design automation market is anticipated to register quite an appreciable growth rate in the forthcoming years on account of the rising adoption of System-on-Chip (SoC) technology. In the era of the evolving electronic industry, electronic design automation (EDA) market has come to play an increasingly pivotal role. This can be specifically justified with the major developments in the submicron technologies that have made it possible to incorporate 100 million gates on a chip and clock frequencies over 1GHz.

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An increase in the production of smart devices is a major factor that will have a positive impact on the growth of the EDA market over the forecast timespan. In the recent years, the industry has witnessed a rise in the demand for consumer electronics. The growing popularity of smartphones and tablets in the recent years has seen an increase in camera modules, proximity sensors, accelerometers, and touchscreens. Sensors are rapidly expanding beyond image and motion sensing to features that can measure human health, food calorie composition, altitude, and humidity indicators owing to the increase in the variety of consumer IoT applications such as wearables. These factors are driving the electronic design automation market over the coming years.

Key industry players involved in the global electronic design automation (EDA) market are as follows:

• Airbus
• Apple
• BMW Group
• GE
• General Motors
• Haier
• HP
• Hitachi
• Honeywell
• LG Electronics
• Lockheed Martin
• Samsung Electronics
• Sharp Electronics Corporation USA
• Schneider Electric
• Tesla
• Thales
• Toyota Motor Corporation
• Volkswagen AG

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The U.S. has witnessed a technological boom and emergence of several small- and large-scale fabless companies. Factors, such as high demand for consumer electronics devices, favorable government policies, the rise in government funding in technology projects, and robust economic conditions of several countries will drive the EDA market growth. Increasing demand to differentiate products is encouraging OEMs to incorporate new technologies and provide products with large displays with better resolution, storage capacity, and high processing speed. These cutting-edge functionalities will increase the complexity of mobile System on Chips (SoCs). Following this, SoC designers are using semiconductor IP cores from third-party service providers to decrease the risk of design integration in the devices, contributing to the semiconductor IP electronic design automation market growth.

The North America 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 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. Moreover, the Federal Communications Commission (FCC) is further aiding in promoting 5G technologies. In April 2017, FCC raised USD 19.80 billion to set up and promote these services across the country.

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The EDA market consists of serval application sectors and consists of vendors, who are providing software tools, dedicated design services, and IP. The industry is presently dominated by many small and large vendors. Several major SIP companies are looking at the prospects to acquire other IP companies to expand their market share. The growth potential of the EDA market is anticipated to attract numerous new vendors trying to gain entry into the market. These new players are focusing on the distinct segments of IC design IP, which will help them gain a considerable market share.

Companies in the EDA market include Solido Design Automation, Airbus, Apple, BMW Group, GE, General Motors, Haier, HP, Hitachi, Honeywell, LG Electronics, Lockheed Martin, Samsung Electronics, Sharp Electronics Corporation USA, Schneider Electric, Tesla, Thales, Toyota Motor Corporation and Volkswagen AG, among others. Companies in the EDA market are looking to spread their business and presence to developing countries and are implementing strategies such as Mergers and Acquisitions (M&A). 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.

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