What are the Future Growth Opportunities in Electronic Design Automation (EDA) Market? | By Top Players – Airbus, BMW Group, General Motors, HP, Hitachi, Lockheed Martin, Tesla, Thales, Toyota Motor Corporation, Volkswagen AG
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Companies in the EDA market include: -
3. BMW Group
5. General Motors
10. LG Electronics
11. Lockheed Martin
12. Samsung Electronics
13. Sharp Electronics Corporation USA
14. Schneider Electric
17. Toyota Motor Corporation
18. Volkswagen AG
Global Electronic Design Automation (EDA) Market is set to exceed USD 14 billion by 2024. 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.
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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 Electronic Design Automation (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 telecommunication industry has been heavily influencing the growth of electronic design automation market, driven by the increased use of testing tools and the consistent delivery of seamless communication services. The launch of long-term evolution technology especially in countries such as China and India has also added an unprecedented stimulus to mobile devices market. In consequence, this has effectively augmented the revenue graph of electronic design automation industry, especially across the Asia Pacific region.
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The North America Electronic Design Automation (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.
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