Electronic Design Automation Market to Grow at a CAGR of 12% by 2027

NEW YORK, UNITED STATES, December 5, 2022 /EINPresswire.com/ -- Electronic design automation software comprises of multiple tools and applications. Integrating these tools according to the customers’ demand sometimes becomes a complicated job. The complex requirements of the end-users regarding highly stable and accurate product positioning is addressed with the help of EDA. Rising complexities and cost challenges faced by the industries for implementation of expensive complex designs is key influencer driving the demand of EDA.

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Market Size Value in - US$ 10.31 Billion in 2018
Market Size Value by - US$ 28.27 Billion by 2027
Growth rate - CAGR of 12.0% from 2019-2027
Forecast Period - 2019-2027
Base Year - 2018
No. of Pages - 150
No. of Tables - 42
No. of Charts & Figures - 57
Historical data available - Yes
Segments covered - Type and Application
Regional scope - North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scope - US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Strategic Insights:
Few of the recent strategies by some of the players in electronic design automation market landscape are listed below:
2018: Cadence Design Systems, Inc. announced a strategic partnership with Green Hills Software to accelerate embedded safety and security. Cadence Design Systems, Inc. invested $150 million that is about 16% ownership interest in GreenHill.
2018: Keysight technologies was selected by ON Semiconductor for as an EDA partner for delivering a design solution for power devices that is expected to increase reliability and accelerate time-to-market.
2018: Synopsys, Inc. and Siemens AG announced a collaboration for wide range of EDA projects. Additionally, the Siemens and Synopsys settled all outstanding patent litigation between Synopsys and Mentor Graphics.

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In 2018, Asia Pacific accounted for the largest revenue share in the electronic design automation market. The major reason for this is the huge electronics and semiconductor hub in China coupled with the large population density of the region. Also China accounts for the largest shipments for semiconductors across the world, the new market initiatives and strategic partnerships are expected to continue during the forecast period, contributing to high growth of electronic design automation market in the region.

Europe is anticipated to witness the fastest growth rate over the forecast period. Europe being a technologically advanced region, bags immense investment opportunities. Further, the growth in innovation and research on electronic devices in Europe is projected to remarkably contribute towards the growth of EDA market during the forecast period. Further, robust automotive industry and ongoing technological developments is opportunistic for the market in the region.

Rising complexities and cost challenges faced by the industries for implementation of expensive complex designs is key influencer driving the demand of advanced EDA (Electronic Design Automation) tools. The EDA software are specifically designed for electronic systems that includes printed circuit boards and integrated circuits. The tools offered by this software function collaboratively in a design flow, which is further used by the chip designers for designing an analysis of entire semiconductor chips. As the modern semiconductor chips comprises of myriad components and complex designs, the EDA tools have become an essential for the designers.

The market in the recent years witnessed several partnerships amid end-user industries. The trail of partnerships in the EDA software market in past few years has therefore paved the growth opportunity for market. For instance in November 2018, Keysight Technologies, Inc. partnered with ON semiconductor for facilitating EDA services in order to empower its devices. Furthermore, in June 2018 Siemens had announced its partnership with Synopsys, Inc. on a wide range of electronic design automation (EDA) product interoperability projects for the benefit of their mutual customers. The collaboration spans a number of EDA domains from design to verification.

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