Global Electronic Design Automation (EDA) Market Will Grow at a Healthy CAGR by 2024 Profiling Airbus, BMW Group, General Motors, HP, Hitachi, Honeywell, Lockheed Martin, Tesla, Thales and Volkswagen AG
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Companies in the EDA market include Airbus, BMW Group, GE, General Motors, Haier, HP, Hitachi, Honeywell, LG Electronics, Lockheed Martin, Samsung Electronics, 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.
Semiconductors are being commonly used in the consumer electronic devices such as PCs, smartwatches, smartphones, and tablets, and other smart products and can communicate with other components through a burgeoning network connected by the IoT. These components are the fundamental enabling technology of modern electronics and require microcontrollers, sensors, and memory to connect to each other and perform their functions. The infrastructure to connect all these devices is correlated to the continued innovations in the semiconductor technology. Owing to the rise in the adoption of smartphones and tablets over the last few years, the industry has witnessed an increase in touchscreens, proximity sensors, accelerometers, and camera modules. Designing these devices necessitates electronic tools, generating a high demand for the EDA market growth.
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The Semiconductor Intellectual Property (SIP) market accounted for over 30% of the EDA market share in 2016 and is anticipated to grow at a high CAGR from 2017 to 2024. Growing applications of the SIP are witnessed majorly in the consumer electronics industry owing to the rise in the adoption of mobile devices such as tablets and smartphones. The development of smart devices involves an extensive R&D that has increased the complexity of chip design, leading to a high adoption of a new IP block or cores as mobile manufacturers are majorly focusing on providing enhanced performance to end users with limited chip sizes.
The development of smart electronic systems that cater to smart homes and connected devices is the key driver of the EDA market in North America. Several component manufacturers are adopting technologically-advanced methods to reduce the design and manufacturing time of the electronic components. Early adoption and high penetration of technology are helping the EDA market in the region grow. In addition, the rise in investments from the government entities has led to a rise in the healthcare expenditure to enhance the healthcare infrastructure. Growing focus on the patient safety, intensifying government legislation, and technological revolution have augmented the usage of electronic designing tools, boosting the EDA market growth in the region.
Asia Pacific EDA industry is anticipated to witness a high growth owing to the presence of a large number of electronics companies and smartphone users. The growing customer base and the increased penetration in the consumer electronics industry have provided an excellent scope for the growth of the Asia Pacific electronics sector. Also, greater digitization has led to an increased broadband penetration in the countries including China and India and opened up newer avenues for companies in the market. The telecommunication sector accounted for the majority of the market share and is expected to grow at a high CAGR from 2017 to 2024.
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EDA market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2013 to 2024, for the following segments:
- Electronic Design Automation Market, By Product
Computer Aided Engineering (CAE)
IC Physical Design & Verification
Printed Circuit Board and Multi-Chip Module
Semiconductor Intellectual Property (SIP)
- Electronic Design Automation Market, By Application
Aerospace & Defense
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