Electronic Design Automation (EDA) Market 2024 - By Size, Trends, Opportunities And Forecast To 2033

The electronic design automation (EDA) market size has grown rapidly in recent years. It will grow from $14.2 billion in 2023 to $15.68 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to growing demand for EDA tools in the automotive, rising adoption of finfet architecture, rising penetration of IoT, VR, and AI, growing demand for smaller and portable electronic devices, growing demand for machine learning for EDA.

The electronic design automation (EDA) market size is expected to see strong growth in the next few years. It will grow to $22.07 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to the increasing demand for complex integrated circuits (ICS), growing miniaturization in various industries, the growing awareness among consumers for fitness, growth of internet of things (IoT) and connected devices, increasing usage of field-programmable gate arrays (FGGAS) in data centers. Major trends in the forecast period include technological advancements, 5G technology implementation, usage of IoT devices, usage of soc technology, machine learning capabilities with AI.

Market Overview -
Electronic design automation (EDA) refers to a category of software tools that assist in the design, verification, and testing of electronic systems, including integrated circuits and printed circuit boards. It is essential for identifying potential issues before the designs enter production and includes design reusability features that simplify the design process.

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Electronic Design Automation (EDA) Market Thrives On Demand For Complex Integrated Circuits
The increasing demand for complex integrated circuits (ICs) is expected to propel the growth of the electronic design automation (EDA) market going forward. Complex integrated circuits (ICs) are compact electronic chips made up of interconnected components, including resistors, transistors, and capacitors, built on a single piece of semiconductor material, such as silicon. EDA tools help engineers to efficiently navigate the complexities of developing advanced integrated circuits, ensuring functionality, performance, and manufacturability meet the desired specifications. These tools can compile, analyze, and simulate these HDL descriptions to verify the correctness of the design and ensure it meets the required specifications.. For instance, in February 2022, according to the semiconductor industry association (SIA), a US-based trade association and lobbying group, global semiconductor sales reached $555.9 billion in 2021, marking a 25.1% increase compared to 2020. Therefore, the increasing demand for complex integrated circuits (ICs) is driving the growth of the electronic design automation market.

Competitive Landscape -
Major companies operating in the electronic design automation (EDA) market are Siemens AG, Oracle Corporation, SAP SE, Advanced Micro Devices Inc., Dassault Systemes, Keysight Technologies Inc., Synopsys Inc., Autodesk Inc., Cadence Design Systems Inc., Werner Enterprises, Xilinx Inc., Ansys Inc., National Instruments Corp., MathWorks Inc., eInfochips Private Limited, Mentor Graphics Corporation, Altium Limited, BluJay Solutions Ltd., Zuken Inc., Silvaco Inc., Aldec Inc., Agnisys Inc., Labcenter Electronics Ltd., Intercept Technology Inc., Sigasi NV, Altair Engineering Inc., Boldport Limited, Dolphin Design, EasyEDA, EnSilica plc, Eremex Ltd.

Siemens AG Introduces Tessent RTL Pro Revolutionizing integrated circuit (IC) Design Optimization With Advanced Software Solution
Major companies operating in the electronic design automation (EDA) market are developing innovative products such as Tessent RTL Pro to gain a competitive edge in the market. Tessent RTL Pro is a software solution designed to help integrated circuit (IC) design teams streamline and accelerate a broad array of critical design-for-test (DFT) tasks for their next-generation designs. For instance, in October 2023, Siemens AG, a Germany-based automation company that designs, develops, and manufactures products, launched the Tessent RTL Pro advanced software solution. This innovative software automates the analysis and insertion of test points, wrapper cells, and x-bounding logic earlier in the design flow, enabling engineers to identify and address testability issues at the earliest stages of design. Tessent RTL Pro works with Siemens' Tessent DFT tools to deliver industry-first functionality, allowing customers to reduce design turn-around-time and improve time-to-market.

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Key Segments -
The electronic design automation (EDA) market covered in this report is segmented -
1) By Type: Computer Aided Engineering (CAE), Semiconductor Intellectual Property (SIP), Integrated circuit (IC) Physical Design And Verification, Printed Circuit Board (PCB) And Multi-Chip Module (MCM)
2) By Deployment Mode: Cloud-Based, On-Premises
3) By Application: Microprocessors And Microcontrollers, Memory Management Units, Other Applications
4) By End User: Automotive Industry, Healthcare Industry, Aerospace And Defense Industry, Telecom And Data Centre Industry, Consumer Electronics Industry, Industrial Sector, Other End-Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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