The global electronic design automation (EDA) software market size is projected to reach USD 14.54 billion by 2025 with a CAGR of 8.9%, according to a new report by Million insights. The growing adoption of electronic devices across the globe is prompting manufacturers to develop compact electronics devices by incorporating and minimizing the size of miniaturized chips / ICs which has complex designs. Thus, electronics manufacturers are increasing the adoption of EDA software, in order to achieve the precision in IC designs and circuits, which in turn expected to boost the market growth in the forthcoming years.
EDA involves a set of software algorithms which is used for designing the complex next-generation electronics systems and products. Moreover, it includes integrated circuits (ICs), Multi-Chip Modules (MCM), printed circuit boards (PCBs) and various others. The PCB software is used for designing and constructing the layout of the circuit in an electronic device. Moreover, the electronic components such as transistors, resistors, ICs and capacitors are mounted on the PCBs.
Furthermore, the software helps in the inspection of the circuit and offers visualization of the circuit. It also improves the quality, productivity and accuracy of the design process by eliminating the manual interventions. The software is widely used in the designing and manufacturing of advanced automotive & medical electronic devices, communication systemsand industrial control systems. These types of applications are projected to drive market growth in the forthcoming years.
The rising technological developments around the world are fuelling the demand for PCBs. As the governments in the emerging economies such as India, Vietnam, Indonesia, China and Australia are highly focusing on digitalization, which in turn promoting customers to adopt the electronics devices and expected to drive the market growth over the forecast period. Furthermore, the MCM and PCBs are an essential part of the electronic devices and in order to enhance their efficiency and accuracy, the demand for EDA software is keepson increasing. Thus, expected to upsurge the market growth in the forthcoming years.
The growing incorporation for IoT technologies in the electronic devices smart watches, tablets, and smartphones are expected to fuel the demand for PCBs, which in turn boost the demand for EDA software. Furthermore, the growing demand for compact devices, especially in the consumer electronics and medical sector are compelling electronics manufacturers to design compact processors for the devices. Thus, the growing adoption of EDA software for designing and manufacturing the compact processors are anticipated to amplify the market growth during the forecast period, 2019 to 2025. Furthermore, the shifting preference of manufacturers towards System on Chip (SoC) technology, due to its cost-effective and high efficient features is projected to create new opportunities for the electronic design automationsoftwaremarket in the upcoming years.
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Further key findings from the report suggest:
• The memory management segment held more than 20.0% of the market share, in 2018 and projected to see substantial growth during the forecast period, 2019 to 2025. The segment growth is attributed to the growing demand for powerful processor triggers which is required for efficient cache memory management.
• The North America is projected to see significant growth with a CAGR of more than 7.0% during the forecast period, 2019 to 2025, owing to high adoption of advanced technologies like the FinFET architecture and high penetration of IoT enabled devices.
• The key players in the market are Synopsis, Inc.; Silvaco, Inc.; Cadence Design Systems, Inc.; Mentor ANSYS, Inc. and Altium LLC.
Million Insights has segmented has segmented the global electronic design automation software market on the basis of end use and regions:
Electronic Design Automation (EDA) Software End-Use Outlook (Revenue, USD Million, 2014 - 2025)
• Microprocessors & Controllers
• Memory Management Units
Electronic Design Automation (EDA) Software Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• Latin America
• Middle East and Africa