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Soaring Demand Set to Propel Electronic Design Automation Software Market to $47.01 Billion by 2029
Electronic Design Automation Software
What Is the Expected CAGR for the Electronic Design Automation Software Market Through 2025?
The market size of electronic design automation software has experienced significant growth in the past few years. It is expected to expand from $34.75 billion in 2024 to $36.86 billion in 2025, with a compound annual growth rate (CAGR) of 6.1%. The growth during the historic period can be credited to the increased intricacy of integrated circuits, the rise in the IoT and consumer electronics markets, an increase in aerospace and defense applications, an uptick in automotive electronics, as well as an upswing in PCB design and manufacturing.
What's the Projected Size of the Global Electronic Design Automation Software Market by 2029?
The market size of electronic design automation software is predicted to experience significant expansion in the upcoming years, reaching $47.01 billion by 2029 with a compound annual growth rate (CAGR) of 6.3%. This expected growth during the forecast period is credited to the progression of quantum computing, heightened focus on cybersecurity, 3D packaging and improved interconnects, international commerce and geopolitical aspects, as well as environmental regulations. Key trends that will characterize this forecast period are the adoption of digital twin technology, design for reusability, real-time design analytics, distributed and collaborative design, in addition to design automation for IoT security.
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Top Growth Drivers in the Electronic Design Automation Software Industry: What's Accelerating the Market?
The expansion of the internet of things (IoT) and associated devices are projected to fuel the growth of the electronic device automation software market. IoT provides automation to various processes, thus reducing labor and operational expenses and accelerating business operations.The intention of IoT is to establish an environment where everything is connected via embedded sensors, software, and other innovative technologies. The devices linked to the IoT gather data and relay it to the cloud gateway for future analysis and development. For example, IoT Analytics GmbH, a German company specializing in market insight and strategic business intelligence for IoT, published an article in May 2022 stating that the global number of IoT connections increased by 8% in 2021, reaching 12.2 billion active endpoints. The figure is anticipated to rise by 18% to 14.4 billion active connections in 2022. Therefore, the rise in the internet of things (IoT) and interconnected devices is spurring the growth of the EDAS market.
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What Trends Will Shape the Electronic Design Automation Software Market Through 2029 and Beyond?
Key players in the electronic design automation software market are prioritizing the development of technologically sophisticated solutions to secure their place in the market. Electronic Design Automation (EDA) software is a collection of proprietary tools used for creating, simulating, validating, and manufacturing electronic systems, with integrated circuits (ICs) and printed circuit boards (PCBs) being primary examples. To illustrate, HCL, a consultancy that specializes in IT services based in India, launched an innovative Electronic Design Automation (EDA) solution in March 2024. The EDA tools simplify processes such as circuit creation, layout design, simulation, and verification, boosting productivity and reducing the probability of errors. This forward-thinking solution is designed to accelerate large-scale EDA implementations, trim down time-to-market significantly, and enhance the quality and reliability of products. By fusing with NetApp's Design Anywhere framework, HCLTech is set to assist clients in boosting the efficiency of their IT platforms, managing their infrastructure, and organizing workloads, offering an array of consumption models tailor-made to suit individual requirements.
What Are the Main Segments in the Electronic Design Automation Software Market?
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
Subsegments:
1) By Computer-Aided Engineering (CAE): Simulation and Analysis Software, Structural Analysis Tools, Thermal and Fluid Dynamics Simulation
2) By IC Physical Design and Verification: Layout Design Tools, Design Rule Checking (DRC) Software, Layout Versus Schematic (LVS) Verification Tools
3) By Printed Circuit Board and Multi-Chip Module (PCB and MCM): PCB Design Software, PCB Manufacturing Software, Multi-Chip Module Design Tools
4) By Semiconductor Intellectual Property (SIP): Standard Cell Libraries, Analog and Mixed-Signal IP, Digital Signal Processing (DSP) Cores
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Which Top Companies are Driving Growth in the Electronic Design Automation Software Market?
Major companies operating in the electronic design automation software market include Aldec Inc., Altium Llc, Ansys Inc., Cadence Design Systems Inc., Synopsys Inc., Siemens AG, Zuken Inc., Silvaco Inc., Keysight Technologies Inc., eInfochips Inc., Xilinx Inc., Vennsa Technologies Inc., Boldport Limited, ProteanTecs Ltd., Tempo Automation Holdings Inc., Solido Design Automation Inc., DeFacTo Technologies Pvt. Ltd., IC Manage, Ing.-Büro FRIEDRICH GmbH, JEDA Technologies Inc., Lauterbach GmbH, Shanghai Hejian Industrial Software Group Co. Ltd., Concurrent EDA LLC, edXact SA, Altair Engineering Inc., Lattice Semiconductor Corporation, Microchip Technology Inc., AWR Corporation, Averant Inc., Carbon Design Systems
Which Regions Will Dominate the Electronic Design Automation Software Market Through 2029?
North America was the largest region in the electronic design automation software market in 2024. The regions covered in the electronic design automation software market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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