Pune, India, May 27, 2021 (GLOBE NEWSWIRE) -- Market Analysis
The global Electrical and Electronic CAD Market is highly lucrative and predicted to witness significant growth at a healthy 8.5% CAGR over the forecast period (2020- 2026), reveals the Market Research Future’s (MRFR) electronic computer aided design market forecast report. ECAD is a simulation software that is utilized in the creation and design of electric and electronic circuits. The schematics are used in the form of a reference for the layout and adherence to laws. The best part about ECAD is it is easy to use.
Alluring Features that Spur Market Growth
As per the MRFR report, there are numerous factors that are propelling the electrical electronic computer aided design market size. These include the use of the software to minimize human errors, use to accelerate the planning stages of construction, burgeoning need for ETA (electronic design automation) tools, huge adoption in manufacturing, automotive, and semiconductor sectors, growing need by market players to increase the efficiency of electrical equipment and lower call back rates, surging need for automation in process industries like manufacturing & oil and gas, and the growing use of ECAD tools that are cloud-based. Besides, the proliferation of smart metering and smart grids are offering electrical electronic computer aided design market opportunities.
On the flip side, the piracy of engineering software and lack of technical expertise may limit the global electrical electronic computer aided design market share over the forecast period.
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COVID-19 Impact on the Global Electrical Electronic Computer Aided Design Market
Almost every industry has faced the brunt of the COVID-19 crisis barring just a few, such as the electronic computer aided design industry. This outbreak has paved the way for ECAD software developers with electrical circuit design makers and semiconductor design manufacturers reaping the perks of work from home trends. The access to cloud-based ECAD tools and speedy internet has been as per the guidelines laid down by the government for restrictions of movement and manage to have a slight effect on productivity. For instance, Royal Circuit Solutions in the US are using the software to ramp up the ventilator design production of Medtronic. Further, the novel coronavirus guidelines to contaminate cleanrooms on a day to day basis and the provision of unenclosed PCBs (printed circuit boards) to protect against electrical chargers may have a positive impact on the electrical electronic computer aided design market growth.
Market Segmentation
The Market Research Future report offers an inclusive analysis of electrical electronic computer aided design market based on vertical, application, industry type, and component.
By component, the electrical electronic computer aided design market is segmented into services & software. Of these, the software segment will lead the market over the forecast period for its ability to run simulations on conceptual products and designs.
By industry type, the electrical electronic computer aided design market is segmented into the discrete industry and process industry. Of these, the discrete industry will dominate the market over the forecast period. The need for software to design complex product shapes is adding to the growth of the segment. Besides, its ability to work with other components internally and externally is also adding market growth.
By application, the electrical electronic computer aided design market is segmented into distribution system control, water treatment, switchgear design, rail signaling, mining equipment control, plant design, and industrial machine controls. Of these, industrial machine controls will spearhead the market over the forecast period for the rise in automation, industry 4.0 rollout of new products as well as emphasis to reduce production cost.
By vertical, the the electrical electronic computer aided design market is segmented into energy, food and beverage, oil and gas, power generation equipment and machinery, railway, construction, aerospace and defense, plant design, and automotive. Of these, the automotive industry will have the lion's share in the market over the forecast period for changing regulations, integration of different consumer electronic products, assured cross-functionality of components, and design of electrical architecture.
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Regional Analysis
North America to Rule Electrical Electronic Computer Aided Design Market
By region, the global electrical electronic computer aided design market covers growth opportunities and the latest trends across Europe, the Asia Pacific (APAC), North America, South America, and the Middle East and Africa (MEA). Of these, North America will rule the electrical electronic computer aided design market over the forecast period. Surging demand in manufacturing and automotive sectors, wide applications in NVH simulation, product management, crash simulation, and durability, emphasis on target deadlines and product efficiency, and adoption by manufacturing companies to manufacture discrete parts & equipment are adding to the global electrical electronic computer aided design market growth in the region.
In Europe, the electrical electronic computer aided design market is predicted to have the second-largest share over the forecast period. Advances in cloud-based ECAD services and tools, low cost of adoption, greater storage capabilities of cloud-based services and solutions, and the collaborations of key players with start-ups to develop CAD tools are adding to the global electrical electronic computer aided design market growth in the region.
In the APAC region, the electrical electronic computer aided design market is predicted to have favorable growth over the forecast period. The need for on-the-go graphic designing through mobile apps for industrial manufacturing and smart factories, the rapid growth of the automotive markers in China, Japan, and South Korea, and the growing development of electric cars and their testing are adding to the global electrical electronic computer aided design market growth in the region.
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Competitive Landscape
The electrical electronic computer aided design market is highly fragmented and competitive in nature with the presence of several well-established industry players. They have encompassed several strategies to widen their portfolios, such as M&A, partnerships, strategic alliances, new product launches, and others.
Notable Players Operating in the Global Electrical Electronic Computer Aided Design Market Include:
- Hexagon AB (Sweden)
- Cadence Design System Inc. (U.S.)
- ALPI International Software SA (France)
- Autodesk Inc. (U.S.)
- WSCAD (Germany)
- Eplan Software & Service Gmbh & Co. KG (Germany)
- MENTOR GRAPHICS (U.S.)
- Sienna Ecad Technologies (India)
- TRIMBLE INC. (U.S.)
- Zuken (Japan)
- Dassault Systèmes SE (France)
- Siemens AG (Germany)
- Bentley Systems, Inc. (U.S.)
- IGE+XAO Group (France)
- Aucotec AG (Germany)
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Industry News
January 2021- Sintecs, a Dutch developer of high-end electronics has selected Vilnius for research and development. The R&D specializations at the office of Vilnius will include PCB design, cybersecurity, ECAD component library engineering, embedded software design, and power & signal integrity analysis.
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