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The Electronic Design Automation (EDA) Market Projections indicate the market will be valued at USD 34.80 billion by 2031, expanding from USD 16.55 billion in 2023 and achieving an impressive CAGR of 9.7% during the forecast period 2024-2031, A new report by SNS Insider.
The electronics industry’s relentless push for sophistication and miniaturization is fueling a surge in demand for advanced EDA tools.
Smaller, more powerful devices across healthcare, consumer electronics, aerospace, defense, and automotive sectors require highly complex integrated circuits. EDA tools are essential in this process, allowing engineers to design, simulate, and optimize these chips efficiently. Healthcare innovations like minuscule surgical devices and fitness trackers, along with the widespread adoption of portable devices by media professionals, are among the key drivers of this market expansion.
Market Analysis:
The aerospace and defense sector provides significant growth opportunities within the EDA market. Semiconductor chips for these industries require rigorous testing and specialized manufacturing processes to withstand harsh conditions and ensure reliability. This translates into a need for advanced EDA solutions that can manage the complexities of these designs. Leading EDA companies are offering industry-specific solutions, further bolstering the market’s growth potential.
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Top Companies Featured in Electronic Design Automation Market Report:
- Cadence Design Systems
- Synopsys
- Siemens
- ANSYS
- Vennsa Technologies
- Xilinx
- EInfochips
- Altium Limited
- Zuken
- Silvaco
Recent Developments
- In February 2023, Ansys expands its collaboration with Microsoft to boost the accessibility of simulation solutions through the Microsoft Azure cloud platform, simplifying access for designers.
- In January 2023, Siemens Digital Industries introduced Questa, an AI-powered verification IQ software aimed at streamlining verification processes and optimizing resources for complex IC designs.
- In November 2022, eInfochips partnered with Ambarella to expand design services for AI-powered camera products.
- In November 2022, Siemens acquired Avery Design Systems, a leading verification IP supplier, to enhance its EDA integrated circuits verification offerings.
Electronic Design Automation Industry Segmentation as Follows:
BY PRODUCT
- IC Physical Design & Verification
- Semiconductor IP
- Computer-aided Engineering (CAE)
- PCB & MCM
- Services
BY DEPLOYMENT MODE
- Cloud-based
- On-premises
While the on-premise EDA segment holds the dominant market share due to factors like data security and customizability, the cloud-based segment is experiencing rapid growth because of its cost-effectiveness and scalability.
BY END USER
- Automotive Industry
- Aerospace & Defense Industry
- Consumer Electronics Industry
- Healthcare Industry
- Telecom and Data Centre Industry
- Industrial Sector
- Others
The consumer electronics segment led the EDA market in 2023. This dominance stems from the relentless evolution of consumer electronics, characterized by increasing sophistication and the insatiable demand for advanced gadgets like smart TVs and smartphones.
BY APPLICATION
- Memory Management Units
- Microprocessors & Microcontrollers
- Others
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Impact of the Russia-Ukraine War
The global electronics supply chain has been disrupted due to the ongoing Russia-Ukraine war. This has caused delays and shortages in essential components and raw materials needed for semiconductor manufacturing, affecting EDA tool utilization. Additionally, the war has created economic uncertainty, potentially leading to project cancellations or deferrals in various sectors that rely on EDA solutions. For example, a slowdown in the automotive sector could lead to decreased demand for semiconductor chips and, subsequently, a reduced need for EDA tools in chip design.
Asia Pacific led the EDA market in 2023
The Asia Pacific (APAC) region holds the leading position in the EDA market, primarily due to the concentration of semiconductor industries in countries like China, Japan, South Korea, and Taiwan. Rising demand for electronics and significant investments in semiconductor chip design contribute to the dominance of this region.
Key Takeaways for the Electronic Design Automation Market Study
- The escalating demand for complex integrated circuits (ICs) lies at the heart of the EDA market’s growth trajectory.
- The demand for miniaturized and powerful electronics across various industries propels the market forward.
- The development of EDA tools tailored to specific industries, such as aerospace and defense, presents lucrative opportunities for market participants.
- The Asia Pacific region will remain the most significant contributor to the EDA market during the forecast period.
Table of Content – Major Key Points
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Electronic Design Automation Market Segmentation, By Product
9. Electronic Design Automation Market Segmentation, By Deployment Mode
10. Electronic Design Automation Market Segmentation, By Application
11. Electronic Design Automation Market Segmentation, By End User
12. Regional Analysis
13. Company Profile
14. Competitive Landscape
15. USE Cases and Best Practices
16. Conclusion
Continued….
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