A Study of Market Segmentation and Competitive Landscape in Electronic Design Automation (EDA) Software Market 2027

According to a recent report published by Allied Market Research, titled, "Electronic Design Automation Software Market by Type and Application: Opportunity Analysis and Industry Forecast, 2020-2027," the global electronic design automation software (EDA) market was valued at $10.20 billion in 2019, and is projected to reach $20.89 billion by 2027, growing at a CAGR of 9.6% from 2020 to 2027.

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Electronic design automation (EDA) software offers tools that assist in the specification, design, verification, implementation, and test of electronic systems. These systems can be fabricated as either an integrated circuit, or multiple of them mounted on a printed circuit board. Electronic design automation tools have widely replaced manual methods for circuit board and semiconductor design techniques. Electronic design automation is also known as electronic computer-aided design.

Increase in demand for compact electronic components required for smart wearable devices, electronic gadgets & medical equipment, advancement in System on Chip (SoC), and surge in penetration of mobile & wireless devices, growing adoption of AI & IoT devices are the major factors that drive the growth of the electronic design automation software market. In addition, rise in need for remote accessibility also boosts the growth of the EDA software market. However, lack of expertise in virtualization is anticipated to hamper the EDA market growth. On the contrary, rise in demand for smaller electronic devices & increase in demand for machine learning in EDA to provide lucrative opportunities for the electronic design automation software market growth in the coming years.

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According to type, the integrated circuit (IC) physical design & verification segment is expected to witness significant growth in the overall electronic design automation software market during the forecast period. This is attributed to the surge in complexity of IC designs and rise in demand for great accuracy and precision of semiconductor devices. In addition, the end-users are increasingly adopting IC design and verification EDA tools to automatically perform the placement and routing of circuits on an IC or application-specific integrated circuit (ASIC). Cloud-based IC physical designing EDA tools are also getting attention in the EDA software market. Cloud computing is enabling end users to gain instant access to the CPU resources required to attain their physical verification.

By application, the consumer electronics segment accounted for the highest electronic design automation software market share in 2019, owing to continuous advancements in the consumer electronics such as smart phones, laptops, desktops, tablets, cameras and many more. The EDA software is also expected to meet the unfulfilled need for methods, models and tools that would permit quicker and more accurate design and verification of microelectronic systems and circuits which drives the growth of electronic design automation software industry.

Based on type, the Semiconductor Intellectual Property (SIP) segment contributed to nearly one-third of the global electronic design automation software market share in 2019, and is expected to lead the trail by the end of 2027. The need of EDA software to offer pre-verified and customizable IP subsystems, architecture design expertise, hardening, signal/power integrity analysis, and IP prototyping kits drive the growth of the segment. On the other hand, the IC Physical Design and Verification segment would also register the fastest CAGR of 12.7% throughout the forecast period, owing to factors such as need for custom IC layout editing, support for the physical implementation of custom digital, analog and mixed-signal designs for device, cell, block , and full chip levels.

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Based on application, the consumer electronics segment accounted for more than one-fifths of the global electronic design automation software market revenue in 2019, and is anticipated to dominate by 2027. EDA tools are increasingly used by consumer electronics manufacturers owing to the compact designs of new electronic items. This factor drives the growth of the market in this segment. On the other hand, the automotive segment would exhibit the fastest CAGR of 11.3% from 2020 to 2027. The fact that automotive field is offering great growth prospects to the Computer Aided Engineering (CAE) and semiconductor IP industries further drives the market growth.

Based on geography, the market across North America, garnered the major share in 2019, holding nearly two-fifths of the global electronic design automation software market. North America has the highest rate of adoption of advanced technologies such as AI, cloud, and others. Thus, adoption of machine learning integrated Electronic Design Automation (EDA) Software by the electronics manufacturers is boosting the growth of this market. At the same time, the Asia-Pacific region would also showcase the fastest CAGR of 11.6% during the forecast period. This is due to the ever growing smartphone penetration, increasing popularity of smart wearable devices, growing electronic manufacturing companies in countries such as China, India, and Japan.

As per region, the global electronic design automation software market was dominated by North America in 2019. The major presence of leading market vendors developing electronic design automation software and early adoption of advanced technology such as IoT & AI in North America are the major drivers for the electronic design automation software market growth. In addition, increase in demand from sectors, such as automotive, medical, and communications, among other industry verticals in North America further propels the market growth in this region.

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Impact of COVID-19 Pandemic on Electronic Design Automation Software Market:

• The outbreak of the pandemic led to decline in investments and funding in the electronic design automation industry. In addition, factors such as decrease in semiconductor industry revenues, the slowdown in production, and shortage of raw material supply have further impacted the industry.

• Nevertheless, the government bodies in all across the world are now implementing unlock procedures to aid the market players in terms of economy. With this drift on board, the industry is anticipated to recover soon.

Key players in the industry-

• Autodesk
• Cadence Design Systems Inc.
• Keysight Technologies
• Mentor, a Siemens Business
• Silvaco Inc.
• Synopsys
• Aldec Inc.
• Altair
• Altium LLC
• ANSYS Inc.

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