New York, Oct. 19, 2022 (GLOBE NEWSWIRE) -- Kenneth Research has published a detailed market report on the “Global PCB-Design-Software Market” for the forecast period, i.e., 2022-2031 which includes the following factors:
- Market growth over the forecast period
- Detailed regional synopsis
- Market segmentation
- Growth drivers
- Challenges
- Key market players and their detailed profiling
Global PCB-Design-Software Market Size:
The global PCB-design-software market is predicted to generate around USD 9 billion by 2031 and to grow at a CAGR of ~11% during the forecast period. The market has garnered a revenue of around USD 2 billion in the year 2021. The expansion in the global consumer electronics industry is the main growth driver of the market. Global consumers are anticipated to spend USD 505 billion on gadgets by 2022. Any consumer electronic gadget must have a PCB as it enables communication through many components of the device. By 2025, it is predicted to be roughly 3 billion consumer electronics users, with a 37% increase in user penetration from 2022 to 2025. As a result, the need for PCB is growing along with the manufacture and utilization of consumer electronic gadgets, and PCB-design-software aids in the rapid production of these boards to fulfill the demand. Consumer electronics are being used more frequently which indicates a rising market trend for PCB-design-software.
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Global PCB-Design- Software Market: Key Takeaways
- Market in North America acquires a noteworthy share of the revenue.
- The consumer electronics segment to influence the revenue graph
- Software segment retains a sizable presence in the market
Rising Automobile Production and Use as well as Explosive Growth in Communication Devices to Boost the Market Growth
In the automotive sector, PCB is frequently used in the engine, LED illumination, GPS, sound/visual systems, and other components. According to the International Organization of Motor Vehicle Manufacturers (OICA) statistics, more than 77 million automobiles were produced worldwide in 2020 which rose to 80,145,988 vehicles in 2021 with an annual growth rate of 3% during 2020-2021. This expanding volume of automotive sector manufacturing suggests a rising market trend for the PCB-design-software market.
In the field of communications, PCBs are used in PBX systems, VoIP devices, phone switching systems, video conferencing, and other applications. Data transmission, wireless systems, and transmission networks all require communication PCBs. Nearly 60% of people worldwide were active internet users as of January 2019, indicating the potential for the market. In addition to this, there are 6.65 billion smartphone owners worldwide in 2022, which equates to 83.50% of the global total population. The growing rate of internet users and smartphone users raises the demand for PCBs in the communication sector which further improves the development of the market.
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Global PCB-Design-Software Market: Regional Synopsis
The global PCB-design-software market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Prominence in Technical Developments and Adoption of High-Speed Analogue Circuits to Fuel the Market in the North American Region.
By the end of 2031, North America is anticipated to have the biggest market share on account of the region’s prominence in technical advancements. For instance, the United States scored 61 out of 100 on the innovation index in 2021. For 132 countries over the same time span, the average innovation index was just above 34 points. The expansion of various industries such as education, health care, automation systems, and others that require the usage of high-speed analog circuits, is another factor contributing to the market growth in the region. The Centers for Medicare and Medicaid Services (CMS) report that national healthcare spending increased 9.7% in 2020 and made up 19.7% of the Gross Domestic Product (GDP). Furthermore, the United States takes the top rank, with nearly half (49.5%) of citizens having access to 5G networks in 2021.
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On the other hand, the market in the Asia Pacific region has a noteworthy share over the forecast period. The expansion of the market is on account of China, being the nation with the greatest population and the second largest economy in the world. The largest consumer electronic market, better lifestyles, and an increase in the global industry players preferring to outsource production there are other factors that lead to the expansion of the market in the region. By 2025, it is predicted to be 849 million users in the consumer electronic sector in China. In addition to this, the annual growth rate of total profit from the electronics business in China was 17.5% in 2020 which rose to 39% in 2021. Further, the user penetration is anticipated to reach 44.5% in 2022 and 58% in 2025. The substantial growth in the production of consumer electronics and the rising user penetration are predicted to accelerate the market expansion in the region.
The study further incorporates Y-O-Y growth, demand & supply and forecasts future opportunities in:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia Pacific)
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global PCB-Design-Software Market, Segmentation by Industry Vertical
- Aerospace & Defense
- Mobile Devices, IT & Telecommunication
- Consumer Electronics
- Health care and Life Science
- Automotive, Transport, and Logistics
- Research and Education
- Industrial Controls Automation
- Others
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The consumer electronics sector is anticipated to have the biggest market size by the end of 2031. In 2022, the global consumer electronics market is expected to be sold around 9 billion units. In 2021, the total number of televisions sold worldwide climbed to almost 550 million sets. By around 2026, it is predicted that this would increase further to 600 million pieces. Similar to that, 170 million smart speakers were shipped globally in 2020. Thus, the market for PCB design software is also driven by the rising production and demand for consumer electronics.
Global PCB-Design-Software Market, Segmentation by Component
- Software
- Services
The software segment holds a significant market share during the forecast period. Engineers can effectively design a circuit board with the use of PCB design software, assisting in addressing any issues that may arise during product manufacture. Creating 2Dand 3D multi boards and various electrical components for use in electric vehicles are other common applications of software. Both common household items and complex industrial tools are IoT-enabled things. It was estimated to be about 11 billion active IoT devices by 2021. Moreover, it is predicted that by 2030, this would exceed 25 billion. By 2025, it is predicted that 0.15 million IoT devices to connect to the internet every minute. A successful IoT product requires a well-designed PCB, which is a crucial component. So, the rise of the segment is reflected in the emergence of IoT.
Few of the well-known market leaders in the global PCB-Design-Software market that are profiled by Kenneth Research are Siemens AG, Cadence Design Systems, Inc., Altium Limited, Cadsoft Corporation, Shanghai Tsing Yue Software Co., Ltd., Novarm Limited (Dip Trace), Zuken USA, Inc., Synopsys, Inc., Autodesk Inc., ANSYS, Inc, and others.
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Recent Developments in Global PCB-Design-Software Market
- In April 20th, 2021, a cloud-based platform named Nexar will be made available by the US-based software business Altium Limited in order to integrate PCB design software and component makers.
- In June 30th,2020, Zuken Inc, a worldwide organization with headquarters in Japan will release the CR -8000 3D multi board PCB design environment.
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