Burlingame, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Coherent Market Insights published a report, titled, “PCB Design Software Market, By Technology (High-end Software, Mainstream Software, and Low-end Software), By End User (Computing Industry, Consumer Electronics Industry, Communication Industry, Medical Industry, Automotive Industry, and Defense Industry), - Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030”. According to the report, the global PCB Design Software market is estimated to be valued at US$ 3.56 billion in 2022 and is expected to exhibit a CAGR of 12.3% during the forecast period.
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Analysts’ Views on Global PCB Design Software Market
The PCB design software market is expreiencing steady growth owing to the growing demand for connected device from various sectors like automotive, aerospace, consumer electronics, telecommunications, and healthcare, among others. Moreover, adoption of automation across various sector is further projected to propel PCB design software market growth.
Key Trends and Analysis of the Global PCB Design Software Market:
Innovation in PCB design software is expected to positively shape the market growth. For instance, In April 2021, Altium Limited a US based software company is planning to launch a cloud based platform called Nexar to connect PCB design, software and component manufacturers.
Global PCB Design Software Market - Drivers
Advent of Smart and Connected Devices is creating demand for PCB design software
Introduction of connected technologies and Internet-of-things has led to the development of highly complex and advanced electronic devices that require PCB software to handle complex circuitry. According to the DataProt , in 2021, there were more than 10 billion active IoT devices.By 2025, there will be 152,200 IoT devices connecting to the internet per minute. It’s estimated that the number of active IoT devices will surpass 25.4 billion in 2030. Moreover, 83% of organizations have improved their efficiency by introducing IoT technology.
PCB Design Software Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2022 | Market Size in 2022: | US$ 3.56 Bn | |
| Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 to 2030 | |
| Forecast Period 2023 to 2030 CAGR: | 12.3% | 2030 Value Projection: | US$ 9.02 Bn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | Cadence Design Systems, Inc., Altium LLC, WestDev Ltd., Zuken Inc., AutoDesk Inc. ANSYS, Inc., Synopsys, Inc., and Novarm Limited | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Growing demand for cloud-based solutions to foster market growth
Introduction of cloud-based solution has led to enable easy designing of PCB software. For instance, in Febuary 2020, Altium has launched a new cloud-based application that redefines the way that printed circuit board designs are shared between designers, part suppliers, and manufacturers.
Global PCB Design Software Market – Restrain
Time-consuming software making process is expected to restrict market growth
PCB design software mostly needs to integrate with other tools, such as mechanical design software, simulation software, or manufacturing processes. The complex nature of these integrations are expected to hamper the market growth.
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Global PCB Design Software Market – Opportunities
Growing popularity of 3D multi-board PCB design to offer significant market growth opportunities
3D multi-board PCB design is expected to hold potential market growth opportunities. In June 2020, Zuken Inc., a Japan-based multinational corporation company, released of its 3D multi-board PCB design environment CR-8000 (advanced 3D multi-board EDA environment)
Global PCB Design Software Market - Key Developments
In June 2022, Zuken has continued to develop the concept of a user-friendly, internet-connected PCB design system for the small to medium business segment with the launch of eCADSTAR Release 2022
In April 2023, Cadence Design Systems, Inc. announced the Cadence® Allegro® X AI technology, a next-generation system design technology that offers revolutionary improvements in performance and automation.
Key Market Takeaways:
Global PCB design software market is expected to exhibit a CAGR of 12.3% during the forecast period, owing to growing demand for consumer electronic products such as smartphone and wearable devices. Growing advancement of connected devices in automotive industry is further anticipated to propel market growth.
On the basis of Technology, High-end software segment is expected to hold a dominant position, owing to its 3D visualization, high-speed, and multi-board design abilities.
On the basis of End User, Consumer electronics industry segment is expected to hold a dominant position, owing to the fact that it plays important role in the development of consumer electronic products.
On the basis of region, North America is expected to hold a dominant position over the forecast period, due to the strong presence of key players such as such as Altium Limited, and Cadence Design Systems, Inc. Also, high spending in defense sector is further projected to fuel regional market growth.
Competitive Landscape:
Key players operating in the global PCB design software market include Cadence Design Systems, Inc., Altium LLC, WestDev Ltd., Zuken Inc., AutoDesk Inc. ANSYS, Inc., Synopsys, Inc., and Novarm Limited
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Detailed Segmentation:
- Global PCB Design Software Market, By Technology:
- High-end Software
- Mainstream Software
- Low-end Software
- Global PCB Design Software Market, By End User:
- Computing Industry
- Consumer Electronics Industry
- Communication Industry
- Medical Industry
- Automotive Industry
- Defense Industry
- Global PCB Design Software Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country:
- GCC Countries
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
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