Global Electronic Design Automation Software Market Overview
The key driver impacting the electronic design automation software market is the growing preference for compact devices. the demand for compact devices is pushing electronics manufacturers to go for miniaturized chips/ICs and smaller-size circuits can be extremely tough to design, thus creating the need for design automation software. the expanding adoption of personal computers (pcs), smartphones, networking devices, and gaming consoles gives rise to the large-scale acceptance of the speedy system on Chip (SoC) architecture. for instance, according to the Pew Research center 2019 report estimations, about 5 billion people have mobile devices, in which half of these connections are smartphones. as per the Internet Innovation Alliance, In 2017, smartphone users number in the United States was estimated to reach 224.3 million. By 2022, in the U.S., the number of smartphone users is estimated to reach around 270 million. as per the marketplace, the gaming industry recorded sales of $120 billion in 2019. It includes digital games for PCs and gaming consoles, mobile and gaming video content, virtual reality, and e-sport. moreover, the rising incorporation of machine learning concepts to decrease the designing costs by allocating the tools to propose solutions for the ordinary designing issue is estimated to be a significant factor contributing to market growth.
According to Value Market Research, the global electronic design automation software market size was valued at USD xx million in 2020 and is estimated to grow at a CAGR of about 8.9% during the forecast period of 2021 to 2027.
The surge in penetration of IoT, artificial intelligence, and Virtual reality is estimated to augment electronic design automation software demand in the forecast period. for instance, the Federation of American Scientists (FAS) estimations show that global IoT is predicted to grow by 37% from 2017 to $1,567B by 2025. also, the number of active IoT devices is estimated to rise from 9.9 billion in 2019 to 21.5 billion in 2025. However, the high availability of open-source EDA software may hamper the electronic design automation software market in the long run. the current industry trends, rise in FinFET architecture adoption for designing modern processors, and expanding its application scope are expected to provide market players with new market opportunities.
The electronic design automation software market is vast, with many local and international players. The key leaders follow various strategies to advance their market position, such as contracts, amalgamation, extending product portfolio, acquisitions, and product upgrades to raise their market share across the globe. For instance, in March 2018, Silvaco Inc. announced the acquisition of NanGate, Inc., an EDA software company, to expand its product portfolio and accelerate the delivery of tools and methodologies. The major players in the report are ANSYS, Inc., Altair, Altium LLC, Aldec, Inc., Autodesk, Cadence Design Systems, Inc., Keysight Technologies, Mentor (a Siemens Business), Silvaco Inc., and Synopsys.
In this research report, the electronic design automation software market is segmented by end use, and region.
Analysis by End-Use:
By end-use, the report is categorized into microprocessors & controllers, memory management units, and others. The microprocessors & controller segment dominates the end-use segment with over 60% share in 2020. It is due to the growing applications of microprocessors and controllers in automated controls, smartcard applications, sensing applications, and other smart devices. Moreover, the varying dynamics of processors in terms of size and processing power and extensive use of microprocessors and controllers in media players, television sets, printers, laptops, and other consumer electronics drives market demand in the forecast period.
Analysis by Region:
In the regional outlook of the global electronic design automation software market, the North America region dominates with a 40% market share during the forecast period. It is due to the high spending on electronic devices across the U.S., Canada, and other nations of North America. Also, continued deployment of automated, connected, and smart vehicles and the continued rollout of the infrastructure required to establish connectivity with these vehicles adds regional growth. Moreover, the significant presence of key market vendors and growing demand from sectors, such as medical & communications, automotive, contribute to the development of the electronic design automation software market in North America.
Market Segmentation covered in the Report:
By End Use
- Microprocessors & Controllers
- Memory Management Units
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.