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Electronic Design Automation Software Market: Navigating Growth and Innovations
Electronic Design Automation Software Global Market Report
The electronic design automation (EDA) software market has demonstrated robust growth, surging from $30.43 billion in 2023 to $32.24 billion in 2024, reflecting a notable Compound Annual Growth Rate (CAGR) of 5.9%. The market is poised for continued expansion, reaching an estimated $40.13 billion by 2028, with a projected CAGR of 5.6%.
Driving Forces Shaping the Market:
1. IoT and Connected Devices as Catalysts:
The convergence of the Internet of Things (IoT) and connected devices emerges as a potent driver propelling the electronic device automation software (EDAS) market. IoT's transformative impact on automation, reducing labor and operational costs, aligns with the objective of creating a connected ecosystem through embedded sensors, software, and technologies. The proliferation of IoT connections, growing from 12.2 billion in 2021 to an anticipated 14.4 billion in 2022, underscores the substantial influence of IoT and connected devices on the EDAS market.
2. Semiconductor Industry Growth Dynamics:
The thriving semiconductor industry plays a pivotal role in propelling the growth of electronic device automation (EDA) software. EDA software, essential for expediting semiconductor design and manufacturing processes, contributes to error reduction, enhanced device quality, and innovation. With global semiconductor industry sales reaching $43.2 billion in July 2023, a 2.3% increase compared to June 2023, the burgeoning semiconductor sector continues to drive the electronic device automation software market.
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Innovations and Technological Advancements:
1. Embracing Technological Advancements:
Technological advancements stand out as a prominent trend in the electronic design automation software market. Market leaders are strategically leveraging technologies such as FinFet, AI, VR, IoT, and SoC to present cutting-edge solutions. For instance, Defacto Technologies introduced SoC Compiler v9 tools in their EDA software offering, incorporating automation to expedite IP building, front-end SoC creation & integration, and RTL design collaterals preparation.
2. Innovative DFT Solutions for Streamlined Chip Design:
Major players in the EDA software market are introducing innovative solutions focused on streamlining and accelerating chip design, specifically in the realm of Design-for-Test (DFT) processes. Siemens Digital Industries Software launched Tessent RTL Pro, an EDA software designed to streamline and accelerate crucial DFT procedures for IC design teams. By automating analysis and insertion of test points and logic early in the design phase, Tessent RTL Pro aims to reduce design cycles and enhance testability.
Regional Dynamics and Market Segmentation:
As of 2023, North America leads the electronic design automation software market, while the regions covered include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The electronic design automation software market covered in this report is segmented -
1) By Type: Computer-Aided Engineering (CAE), IC Physical Design And Verification, Printed Circuit Board And Multi-chip Module (PCB And MCM), Semiconductor Intellectual Property (SIP)
2) By Application: Communication, Consumer Electronics, Automotive, Industrial, Aerospace And Defense, Medical
3) By End-Use: Microprocessors And Controllers, Memory Management Units
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Electronic Design Automation Software Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Electronic Design Automation Software Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on electronic design automation software market size, electronic design automation software market drivers and trends, electronic design automation software market major players, electronic design automation software market competitors' revenues, electronic design automation software market positioning, and market growth across geographies. The electronic design automation software market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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