The growth of the Internet of Things (IoT) coupled with connected devices is driving the growth of the Electronic Design Automation (EDA) market.
PORTLAND, PORTLAND, OR, UNITED STATES, Sept. 18, 2022 /EINPresswire.com/ — An increasing demand for compact electronic components required for smart wearable devices, electronic devices and medical devices, advances in system-on-chip ( SoC) and increasing adoption of mobile and wireless devices and increasing adoption of AI and IoT devices are the major factors driving the growth of electronic design automation software market.
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In addition, the increasing need for remote access is also fueling the growth of the EDA software market. However, a lack of expertise in virtualization is expected to inhibit the growth of the EDA market. On the contrary, an increasing demand for smaller electronic devices and an increasing demand for machine learning in EDA offer lucrative opportunities for electronic design automation software market growth in the coming years.
Depending on the type, the integrated circuit (IC) physical design and verification segment is expected to witness significant growth in the overall electronic design automation software market during the forecast period. This is attributed to the increase in complexity of IC designs and the increasing demand for high accuracy and precision in semiconductor devices.
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In addition, end users are increasingly turning to EDA IC design and verification tools to automate the placement and routing of circuits on an IC or application specific integrated circuit (ASIC). Cloud-based IC physical design EDA tools are also gaining attention in the EDA software market. Cloud computing allows end users to get instant access to the CPU resources needed for their physical verification.
By application, the consumer electronics segment accounted for the highest market share of electronic design automation software in 2019, driven by continuous advances in consumer electronics such as smartphones, laptops, desktops, tablets, cameras and more.
The EDA software is also intended to fill the unmet need for methods, models and tools that would enable faster and more accurate design and verification of microelectronic systems and circuits, driving the growth of the electronic design automation software industry.
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Depending on the region, the global electronic design automation software market in 2019 was dominated by North America. The strong presence of leading market vendors developing electronic design automation software and the early adoption of advanced technologies such as IoT and AI in North America are the key drivers behind the growth of the electronic design automation software market.
Additionally, increasing demand from sectors such as automotive, medical, communications and other industries in North America continues to drive market growth in this region.
Global Electronic Design Automation Software Market Analysis includes some of the major market players such as ANSYS, Inc., Altair, Altium LLC, Aldec, Inc., Autodesk, Cadence Design Systems, Inc., Keysight Technologies, Mentor (a Siemens company), Silvaco Inc. and Synopsys.
Main results of the study-
• By type, the Semiconductor Intellectual Property (SIP) segment was the largest electronic design automation software market in 2019.
• By application, the consumer electronics segment led the global electronic design automation software market in 2019.
• North America was the region with the highest sales in 2019; However, Asia-Pacific is expected to register the highest growth over the forecast period.
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