Dublin, July 19, 2023 (GLOBE NEWSWIRE) -- The "Electronic Design Automation Software Market Size, Share & Trends Analysis Report By End-use (Microprocessors & Controllers, Memory Management Units), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global electronic design automation (EDA) software market is poised for significant growth, with a projected size of USD 22.21 billion and a compound annual growth rate (CAGR) of 9.1% from 2023 to 2030
Despite a minor setback caused by the pandemic, the industry is set to rebound and witness healthy expansion. The increasing miniaturization of chips and devices presents lucrative opportunities for the EDA software market.
EDA software plays a critical role in reducing manual errors in chip and Integrated Circuit (IC) design, contributing to the industry's growth. The demand for sophisticated processors to meet the rising consumer electronics requirements has fueled the popularity of FinFet architecture. This trend is expected to drive market growth in the coming years.
As devices continue to become more compact, there is a growing demand for miniature electronic components, creating opportunities for EDA solutions that offer error-free chip and IC design capabilities. The need to eliminate design flaws while ensuring faster time to market is anticipated to generate substantial demand for EDA software solutions throughout the forecast period.
While EDA vendors enhance the authenticity and value of their products through additional layers of authentication to combat copyright infringements, patents, and trademarks, this has limited the penetration of EDA solutions among small and medium-sized companies. To unlock their full potential, vendors can explore this space and ensure consistent revenue streams in the long term. Furthermore, the presence of open-source EDA tools poses a potential threat to well-established vendors in the market.
The global EDA software market is led by industry leaders Mentor Graphics, Cadence Design Systems, Inc., and Synopsys, Inc. The complexity of electronic designs, driven by the proliferation of artificial intelligence, industrial applications, automotive advancements, consumer electronics, and other high-impact sectors, presents significant challenges for semiconductor companies. Consequently, the demand for EDA tools becomes even more critical in addressing these design challenges.
As the market continues to evolve, stakeholders in the EDA software industry are actively working to meet the growing demands and propel innovation. With the projected growth trajectory and the increasing importance of chip design, the EDA software market is poised for a dynamic future.
Electronic Design Automation Software Market Report Highlights
- EDA tools are pivotal to chip design, which is the heart of any electronic device. Globally, every industry is transforming itself through digitization, and ICs are at the heart of enabling this digitalization
- As such, the worldwide demand for EDA tools is anticipated to witness robust demand over the forecast period. The industry globally is projected to expand at a CAGR of 9.1% over the forecast period
- 5G proliferation will also be a key factor driving the demand because 5G chipsets require a robust verification methodology to meet the challenges associated with conducting numerous tests to eliminate any design errors
- North America has been at the forefront of new technology adoption and hence the region captured the highest market share in 2022. The regional market size is projected to surpass USD 10.0 billion by 2030
- Asia Pacific accounted for more than 30% share of the overall market in 2022, aided by a surge in demand for electronic devices, together with the prevalence of key electronic component manufacturers in Greater China
- Inorganic growth strategies will help beat the competition while achieving a larger market share. Further to this, trademarks and patents are key to staying relevant in this industry and hence would be the area of focus for several vendors
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $11.1 Billion |
| Forecasted Market Value (USD) by 2030 | $22.21 Billion |
| Compound Annual Growth Rate | 9.1% |
| Regions Covered | Global |
Competitive Landscape
- Cadence Design Systems, Inc.
- Synopsys, Inc.
- Siemens
- Silvaco, Inc.
- Vennsa Technologies.
- ANSYS, Inc
- Altium Limited
- Zuken
- Keysight Technologies
- eInfochips
For more information about this report visit https://www.researchandmarkets.com/r/eytb9x
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