With 9.8% CAGR, Electronic Design Automation Market Growth to Surpass USD 26.2 billion

The global electronic design automation was valued at USD 14.5 billion in 2022 and is estimated to reach USD 26.2 billion by 2028, registering a CAGR of 9.8% during the forecast period. The rising demand for complex integrated circuits as the miniaturization increases and the demand for compact electronic components from various industries are the major driving factors for the growth of the electronic design automation market.

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Based on Product Category, the Semiconductor IP segment is expected to dominate the electronic design automation market from 2022 to 2028. The growth can be attributed to several factors. Firstly, the growing adoption of multicore technology in the consumer electronics industry has led to an increase in demand for semiconductor IPs. Additionally, the constantly rising cost of chip designing has made it more economical for companies to license IPs from third-party providers. Furthermore, as semiconductor chips are becoming ubiquitous, the focus on innovation in various fields, such as consumer electronics, automotive, healthcare, aerospace, and defense, has increased. This has led to semiconductor IP companies creating and reusing these IPs for ongoing innovations in these industries.

Based on deployment, on-premises segment held the largest size of the electronic design automation market, and a similar trend is likely to be observed during the forecast period. The significant growth of the on-premise segment in the electronic design automation (EDA) market can be attributed to various factors. The complexity of chip designs and the need to process vast amounts of data make on-premise solutions more practical for some companies. Many semiconductor component manufacturing companies are currently deploying on-premise EDA solutions in their operational process. This is because these solutions offer several advantages over cloud-based solutions, such as better control over data security, improved performance, and reduced latency.

Based on end use applications, the microprocessors & microcontrollers segment held the largest share of the electronic design automation market, and this trend is projected to continue during the forecast period. The increasing demand for smaller, more powerful, and energy-efficient devices has led to the widespread use of microcontrollers in a variety of applications. Microcontrollers are designed to perform specific tasks and are optimized for low-power consumption, making them ideal for battery-powered devices. Additionally, the flexibility and programmability of microcontrollers make them a popular choice for embedded systems, where they can be used to control and monitor a range of devices and systems.

Based on end user, the consumer electronics segment held the largest share of the electronic design automation market and this trend is projected to continue during the forecast period. Advancements in technologies used in earphones and headphones, such as noise-cancellation and wireless connectivity, have contributed to the popularity of these devices. The rising demand for large, technologically advanced television sets has also fueled the growth of the consumer electronics industry, as consumers seek immersive viewing experiences.

Based on region, Asia Pacific held the largest share of the electronic design automation market, and a similar trend is likely to be observed during the forecast period. One of the major reasons is a strong position of semiconductor companies in countries such as China, Japan, and South Korea. Asia has a large and rapidly growing consumer electronics market, driven by a rising middle class with increasing purchasing power. This has led to a surge in demand for semiconductors used in a wide range of electronic devices, from smartphones and tablets to wearables and smart home appliances. This increased demand in consumer electronics is fueling the growth of electronic device automation market.

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Major players operating in the HVAC system market include Cadence Design Systems, Inc. (US), Synopsys, Inc. (US), Siemens (Germany), ANSYS, Inc. (US), Keysight Technologies, Inc. (US), Advanced Micro Devices (US), eInfochips (US), Altium Limited (Australia), Zuken Inc. (Japan), Silvaco, Inc. (US). These companies have reliable manufacturing facilities as well as strong distribution networks across key regions, such as North America, Europe, and Asia Pacific. These companies have built a strong reputation for their products and services, with a well-established portfolio that reflects their expertise in the industry. Their market presence is robust, backed by strong business strategies that have enabled them to maintain a significant market share.

News also Covered: https://www.prnewswire.com/news-releases/electronic-design-automation-market-worth-26-2-billion-by-2028---exclusive-report-by-marketsandmarkets-301827033.html

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