Newark, Aug. 10, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 12.0 billion electronic design automation software market will reach USD 31.1 billion by 2032. Almost every industry incorporates machine learning (ML) and artificial intelligence (AI), including healthcare, electronics, automotive, and aerospace & defence. Companies are incorporating AI and ML into their products to enhance product offerings in the above-mentioned categories. Advancements in electronic components and chips are required for these growing technological implementations, opening up opportunities for EDA providers. Software testers can switch from manual testing to automated process testing owing to the integration of AI in the development process. EDA expedites and lowers the cost of designing electrical circuits. Additionally, the programme aids in the eradication of manual errors, which benefits market expansion. Future growth opportunities are also being created by incorporating technology into existing solutions, such as machine learning to lower design costs.
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North America to account for the largest market size during the forecast period.
North America is expected to have the essential electronic design automation software market share. In terms of semiconductor industry manufacturing, design, and research, the United States is a significant nation. Due to the region's prominence, end-user industries, including consumer electronics and the automotive sector, which are significant consumers of semiconductors, are expanding and driving the demand for exporting electronic equipment. For instance, the Semiconductor Sector Association (SIA), a US-based semiconductor corporation, claimed in February 2022 that global semiconductor sector revenues in 2021 totalled USD 555.9 billion, the largest annual total ever and an increase of 26.2% over the USD 440.4 billion total for 2020. The semiconductor market shipped a record 1.15 trillion units in 2021 as chip manufacturers upped production to keep up with the high demand sparked by the global chip shortage.
The IC physical design and verification segment dominated the market with the most significant revenue of USD 4.29 billion.
The IC physical design and verification segment dominated the market with the most significant revenue of USD 4.29 billion. For its Calibre platform for integrated circuit (IC) physical verification, Siemens Digital Industries Software announced a variety of improved early design verification (EDV) functionalities in July 2022. By moving the identification, analysis, and resolution of difficult IC and system-on-chip (SoC) physical verification issues into earlier stages of the design and verification flow, these new capabilities, which were developed to help IC design teams and businesses complete projects more quickly, can aid IC designers in "shifting left" their physical and circuit verification tasks. Additionally, in February 2022, Veriest Solutions, a well-known international supplier of electronics design services, announced the expansion of its services to encompass physical design services and construction of a design centre in the United Kingdom.
The microprocessors & controllers segment dominated the market with the most significant revenue of USD 4.69 billion.
The microprocessors & controllers segment dominated the market with the most significant revenue of USD 4.69 billion. Electronic design automation, which includes microprocessors and controllers, is also used in memory management systems, among other things.
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Market Dynamics:
Drivers: Rise of Internet of Things (IoT)
Electronic design automation (EDA) market growth is driven by the increasing use of the Internet of Things (IoT) and connected devices . Due to two main trends namely improvements in sensor technologies and declining Average Selling Prices (ASPs) and the revenue for the Internet of Things market from sensing devices is expected to have rapid growth as the use of sensors increases. Because of advancements in electronic design, businesses can produce distinctive platforms with low power consumption.
Restraint: Low level of Public Awareness
Due to the low public awareness of EDA, it is difficult for the market to expand during the forecast period.
Opportunity: Rising Effective Semiconductor
The transition to more efficient and compact semiconductors will promote industrial growth in the upcoming years. These technologies also help to reduce design expenses and flaws, which increases demand for solutions in the aerospace, defence, consumer electronics, and automotive industries. Additionally, System on Chip (SoC) advancements are fueling the market's growth. New design strategies are required due to the complexity of programmable components increasing. Product architects must develop tools for upcoming/new architecture and quickly evaluate various design constraints.
Challenge: High Cost
The market's expansion is anticipated to be hampered by low penetration in developing nations and high costs.
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Some of the major players operating in the electronic design automation software market are:
● Advanced Micro Devices, Inc
● Aldec, Inc.
● Altium LLC
● ANSYS, Inc.
● Cadence Design Systems, Inc.
● eInfochips
● EMA Design Automation, Inc.
● Keysight Technologies
● Mentor, a Siemens Business
● Microsemi
● Synopsys, Inc.
● Silvaco, Inc.
● The MathWorks, Inc.
● Vennsa Technologies
● Zuken
Key Segments cover in the market:
By Type:
● Computer-aided Engineering (CAE)
● IC Physical Design and Verification
● Printed Circuit Board & Multi-chip Module (PCB and MCM)
● Semiconductor Intellectual Property (SIP)
● Services
By End-User:
● Microprocessors & Controllers
● Memory Management Unit (MMU)
● Others
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About the report:
The global electronic design automation software market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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