As per the latest report by IMARC Group, titled "Electronic Design Automation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" the global electronic design automation market size reached US$ 10.6 Billion in 2022. Electronic design automation (EDA) is a set of software tools used to design digital circuit boards. It integrates analog and digital designs to produce integrated circuits (ICs) and other electronic components, thus minimizing the production costs and time required for designing ICs and eliminating manufacturing errors. EDA finds extensive applications across multiple industries, including aerospace, defense, healthcare, telecom, and automotive, due to its numerous benefits. For instance, the aerospace and defense industries use EDA tools to design complex electronic systems essential for their operations. The healthcare industry, on the other hand, relies on EDA tools for developing medical devices and equipment.
Global Electronic Design Automation Market Trends:
The rapidly expanding electronics industry and the emerging trend of industrial automation are some of the key factors propelling the market growth. In addition to this, the integration of connected devices with the Internet of Things (IoT), augmented reality (AR), and artificial intelligence (AI) and the widespread adoption of circuits, semiconductors, and sensors are providing a boost to the market growth. Moreover, the advent of miniaturized electronic products and the rising utilization of microprocessors and controllers in automated controls and smartcard applications are creating a positive outlook for the market. In line with this, key manufacturers are utilizing EDA solutions to design advanced electronics with compact designs, such as smart wearable devices, automotive gadgets, and healthcare equipment, with high efficiency to increase their product portfolio, which, in turn, is bolstering the market growth. Other factors, such as advancements in System on Chip (SoC) technology, extensive research and development (R&D) activities, and the growing demand for high-performance electronic components, are providing a significant boost to the market growth. Looking forward, the market value is projected to reach US$ 16.9 Billion by 2028, expanding at a CAGR of 7.8% during 2023-2028.
- By solution type, the market is divided into semiconductor IP, CAE (computer aided engineering), IC physical design and verification, PCB & MCM (printed circuit board and multi-chip module), and services.
- Based on deployment type, the market is bifurcated into on-premises and cloud-based.
- On the basis of the end-use industry, the market is segmented into military/defense, aerospace, telecom, automotive, healthcare, and others.
- Based on region, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined with some of the key players being Altium Limited, ANSYS, Inc., Autodesk Inc., Boldport Limited, Cadence Design Systems, Inc., Siemens AG, Silvaco Inc., Synopsys, Inc., Vennsa Technologies and Xilinx, Inc.
|Base Year of the Analysis
||Solution Type, Deployment Type, End-Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Altium Limited, ANSYS, Inc., Autodesk Inc., Boldport Limited, Cadence Design Systems, Inc., Siemens AG, Silvaco Inc., Synopsys, Inc., Vennsa Technologies and Xilinx, Inc.
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