Electronic Design Automation Market to Reach Valuation US$ 16.9 Billion During 2023-2028 | CAGR of 7.8%

According to the latest report by IMARC Group, titled "Electronic Design Automation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on the global electronic design automation market. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global electronic design automation market size reached US$ 10.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 16.9 Billion by 2028, exhibiting a growth rate (CAGR) of 7.8% during 2023-2028.

Electronic design automation (EDA) is a term that refers to the use of computer-aided tools and techniques to perform various stages of the design and manufacturing of electronic systems. EDA tools and techniques are used to streamline the design process, reduce the risk of design errors, and increase the efficiency and productivity of engineers and designers. EDA encompasses various design activities, including schematic capture, simulation, verification, layout, and manufacturing. With the rapid pace of technological advancement in the electronics industry, EDA is becoming increasingly important. It will continue to play a key role in developing new and innovative electronic systems. EDA is widely used across various industries, including telecommunications, consumer electronics, computer hardware, and aerospace. EDA tools have helped to increase the speed and efficiency of electronic design and development while reducing the time to market and costs associated with developing new products.

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Market Trends:

The global market is majorly driven by the increasing demand for electronic devices and systems across various applications, such as consumer electronics, automotive, aerospace, and telecommunications. In line with this, the rising demand for advanced semiconductor devices is significantly contributing to the market growth. The growing need for efficient and cost-effective design tools and the rise of the Internet of Things (IoT) are other growth-inducing factors. Furthermore, the escalating integration of Machine Learning (ML) and Artificial Intelligence (AI) technologies is offering numerous opportunities for the market players. Apart from this, the increasing demand for smart consumer electronic devices is expected to promote IC providers to focus on circuit designs with the assistance of advanced EDA. As such, the industry is witnessing rising collaboration among electronic OEMs and IC manufacturers. This is expected to offer lucrative opportunities for the electronic design automation market expansion worldwide.

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The expanding cloud computing sector is catalyzing the demand for EDA across several industry verticals. Moreover, the cost-effectiveness and efficiency associated with EDA are propelling the market growth. Industries across the globe are widely adopting IC design and verification tools to automatically perform circuit placement and routing on an application-specific integrated circuit (ASIC), thereby favoring industry growth. In addition, the development of smart cities and the increasing demand for smartphones are providing a boost to market expansion.

Competitive Landscape:

The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.

Some of these key players include:

• Altium
• ANSYS Inc.
• Autodesk Inc.
• Boldport Limited
• Cadence Design Systems Inc.
• Mentor (a Siemens Business)
• Silvaco Inc.
• Synopsis Inc.
• Vennsa Technologies
• Xilinx Inc.

Key Market Segmentation:

The report has segmented the market based on solution type, deployment type, end-use industry, and region.

Breakup by Solution Type:

• Semiconductor IP
• CAE (Computer Aided Engineering)
• IC Physical Design and Verification
• PCB & MCM (Printed Circuit Mode and Multi-Chip Module)
• Services

Breakup by Deployment Type:

• On-premises
• Cloud-based

Breakup by End-Use Industry:

• Military/Defense
• Aerospace
• Telecom
• Automotive
• Healthcare
• Others

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Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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