Electronic Design Automation (EDA) Tools Market registering a CAGR of 9.48% during the forecast period 2021-2027

The global electronic design automation tools (EDA) market is anticipated to register a CAGR of 9.48% during the forecast period 2020-2027. The new trend of EDA toolset with machine learning capabilities and the latest technologies such as cloud and artificial intelligence will be responsible for the growth of the market. The substantial investments made in the past few years are aimed at enabling designers to reduce the number of errors, thereby saving a lot of time, which is expected to produce results in the future.

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The COVID-19 outbreak hampered the EDA market growth because of the strict lockdown measures. The temporary closure of various industries affected the market expansion as production was stopped and shipments were delayed. Nevertheless, the market has slightly recovered with the reopening of industries with limited workforces as there is a demand for automation in semiconductors and electronics.

Aldec Inc. launched HES-DVM Proto Cloud Edition (CE). It is available through Amazon Web Service (AWS), HES-DVM Proto CE can be used for FPGA-based prototyping of SoC / ASIC designs and focuses on automated design partitioning to greatly reduce bring-up time when up to four FPGAs are needed to accommodate a design.

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IC physical design and verification forms the basis for the development of all microelectronic devices. Factors affecting the growth of the segment are the rise in complexity of IC designs ad demand for accuracy and precision of semiconductor devices. Variations in new process geometries, miniaturization, edge placement errors, and various other issues have forced chip manufacturers to use automated tools to process complex and interrelated design rules to ensure efficient chip manufacturing.

North America is anticipated to be a significant contributor to the EDA tools market on account of the extensive usage of electronic devices and the presence of key industry players in the region. The region has witnessed a continuous increase in sales of semiconductors in the past few years. With the continued expansion of major end-use industries such as automotive, communications, and healthcare, this trend is expected to provide significant opportunities in this region.

Some of the prominent players in the EDA tools market include Synopsys, Cadence Design Systems inc., Mentor Graphics, Zuken, EEsoF.

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