Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Electronic Design Automation Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2021-2028”
LOS ANGELES, July 30, 2021 (GLOBE NEWSWIRE) -- The Global Electronic Design Automation Market is anticipated to grow at a CAGR of around 9.6% during the forecast period 2020 to 2027 and to reach around US$ 17.9 Bn by 2027.
Inclination towards automation among various industry verticals and demand for smart devices are augmenting the global electronic design automation market growth.
The market in North America is expected to account for major revenue share in the global electronic design automation market due to increasing focus of players towards automation. Electronic applications are increasing and demand ever increasing flexibility and performance along with increasing demands to decrease in power consumption. This is creating pressure on manufacturers for development of advanced solutions. Electronic design automation takes care for every small detail and design required for product development. Increasing merger & acquisition activities by major players is expected to augment the regional growth.
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The market in Asia Pacific is expected to witness faster growth in the target market due to presence of large number of electronic manufacturers. With the rising demand for smart devices complexity in designing the devices is increasing EDA find wide applicability in higher levels of abstraction further increasing its demand among consumer electronics, automotive, and industrial sector. Favorable business policies by the government in order to strengthen its manufacturing capabilities and emergence of small & mid-size enterprises are factors expected to augment the Asia Pacific growth.
Rapid technological advancements in electronic devices, miniaturization of devices and increasing automation approach among players in various industry verticals is increasing demand for enhanced devices this is major factor expected to drive the growth of global electronic design automation market. Electronic sector across the globe is witnessing rapid growth. Consumer spending on electronic devices is increasing; demand for smart advanced devices is gaining attraction. China and US are largest consumers of electronic products, with a combined revenue generation of US$ ~350 Bn. In 2018, consumers spending on electronic devices crossed trillion dollars; with smart phone sales accounting for US$ 500 Bn. In 2019-20 the electronics market in India was valued at US$ 118 Bn and the revenue distribution is done by segmentation as mobile phones (24%), consumer electronics (22%), strategic electronics (12%), computer hardware (7%), LEDs (2%) and industrial electronics (34%) also including auto, medical and other industrial electronic products.
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Manufacturers are focused on enhancing the business through strategic merger and new product launches. This is expected to help the company to enhance the customer base and increase the revenue share in the electronic design automation market.
In 2021, Synopsys, a global vendor of electronic-design-automation (EDA) software launched unified suite of simulation software that aid to speed up the design of systems-on-a-chip (SoCs), systems-in-package (SiPs), and memory chips for use in data centers, 5G, automotive, artificial intelligence (AI), and other areas. This launch is expected to help company to enhance the business.
In addition, business development activities by major players in order to enhance the business through partnerships are expected to support the growth of target market.
In 2021, Siemens, a global electronic company acquired the proFPGA product family of PRO DESIGN Electronic GmbH designed for Field Programmable Gate Array (FPGA) desktop prototyping technologies. The acquisition is expected to help a company to enhance the customer base and increase the product offerings.
In 2020, Synopsys, a global vendor of electronic-design-automation (EDA) software partnered with TSMC to Accelerate 3nm Innovation, Enabling Next-Generation SoC Design. This is expected to help the company to enhance the business and increase the revenue share and increase the customer base.
In 2020, ARM, a global IT solution provider announced that it shifted its electronic design automation (EDA) workloads to Amazon Web Services (AWS). This is expected to help the company to enhance the business and increase the revenue share in the market.
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Factors such as availability of free sources and economical slowdown lowering the manufacturing aspect are factors expected to hamper the growth of global electronic design automation market. However, increasing demand for compact smart devices, high investment by major players for R&D activities and new product launches are factors responsible to create new opportunities for players operating in the electronic design automation market over the forecast period. In addition, increasing partnership and agreement between players is expected to support the revenue transaction of the target market.
The global electronic design automation market is segmented into type and application. Among types, the Microprocessors & Controllers segment is expected to account for major revenue share in the global electronic design automation market. The application segment is divided into communication, consumer electronics, automotive, industrial, aerospace & defense, medical, and others. Among applications, the consumer electronics section is expected to account for major revenue share in the target market. Players profiled in the global electronic design automation market are Aldec, Inc., Altair, Altium LLC, ANSYS, Inc., Autodesk, Cadence Design Systems, Inc., Keysight Technologies, Mentor, Silvaco Inc., and Synopsys.
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