Selbyville, Delaware, April 14, 2021 (GLOBE NEWSWIRE) --
According to latest report “Electronic Design Automation Market by Product (Computer Aided Engineering (CAE), IC Physical Design & Verification, Printed Circuit Board (PCB) & Multi-Chip Module (MCM), Semiconductor Intellectual Property (SIP), Services), Application (Aerospace & Defense, Automotive, Consumer Electronics, Industrial, Medical, Telecommunications), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of electronic design automation will cross $20 billion by 2027. The market growth can be attributed to the high demand for automated design solutions from several industry verticals.
There is a high demand for CAE simulation software that supports the engineering analysis operations. The software enables users to simulate, optimize, and validate manufacturing tools and products. These tools help to analyze the robustness and performance of assemblies and components. There will be a high demand for CAE tools that enable to evaluate and refine designs using computer simulations rather than physical prototype testing, in turn, saving time and money. The tools are used to evaluate a prototype in the design process itself, enabling engineers to make the necessary changes before the assembly of the final design.
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The expanding telecom sector globally will offer growth opportunities to the electronic design automation market. There is a sharp rise in the number of wirelessly connected devices in both developing and developed economies. The advent of 5G will also spur the demand for high-performance chips that facilitate seamless interconnection of devices. EDA tools will witness increasing demand for 5G design, simulation, and verification. The tools will be used to verify performance with 5G modulation standards. Government organizations supporting the implementation of 5G technology to strengthen the telecom infrastructure will, in turn, support the market expansion.
The developing industrial sector in Latin America will support the electronic design automation market demand. In March 2017, the government announced a strategy to fuel Argentina’s automotive sector and produce an output of around a million units by 2023. The manufacturing sector in Brazil is employing advanced digital techniques, such as AI and machine learning, to strengthen its global competitiveness. Th government in Brazil is also supporting the digital transformation in the country to ensure economic development. The modernizing industrial sector in the region coupled with favorable government initiatives supporting industrial advancement will support the market value.
Key companies operating in the electronic design automation market include Ansys Inc., Autodesk Inc., Agnisys Inc., Aldec Inc., Altera Corporation, Altium LLC, EasyEDA, Cadence Design Systems Inc., Ferrochip, Intercept Technology Inc., Electromagenticworks Inc., Keysight Technologies, National Instruments Corporation, Invionics Software Inc., Synopsys Inc, and Xilinx Inc.
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Some major findings of the electronic design automation (EDA) market report are:
- The growing penetration of automation across several industrial sectors to ensure accurate product design & validation will boost the industry growth. EDA tools enable engineers to design complex electronic circuits.
- The expanding consumer electronics industry will offer growth opportunities to the market. As manufacturers focus on developing compact and miniaturized smart devices, there will be a high demand for EDA tools that enable to design high-performance chips.
- The advent of compute-intensive technologies, such as IoT, machine learning, and cloud computing, will propel the demand for EDA tools for chip designing. These technologies foster the R&D associated with EDA tool development.
- There will be an increasing demand for compact PCBs and multichip modules that integrate complex circuits in minimum space. There will also be a high demand for IC physical verification & design tools that ensure automated and accurate validation of IC layouts.
- The developed automotive sector incorporating advanced electronic solutions such as sensors, infotainment systems, and ADAS applications will offer growth opportunities to the electronic design automation market. The increasing R&D associated with vehicle electrification will further augment the demand for EDA solutions. The advent of autonomous vehicles in developed economies will impel the market progression.
- The developing industrial sector in emerging economies will support the industry expansion. Government organizations are influencing the adoption of advanced technologies such as IoT, AI, and machine learning. These compute-intensive technologies will upsurge the demand for high-performance electronic chips.
Table of Contents (ToC) of the report:
Chapter 3 Electronic Design Automation (EDA) Market Insights
3.1 Industry segmentation
3.2 Impact of coronavirus (COVID-19) pandemic on the electronic design automation market
3.2.1 Global outlook
3.2.2 Regional outlook
3.2.3 Industry value chain
3.2.3.1 Raw material suppliers
3.2.3.2 Component suppliers
3.2.3.3 Manufacturers
3.2.4 Competitive landscape
3.2.4.1 Marketing
3.2.4.2 Distributors
3.2.4.3 Service providers
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.4 Technological and innovation landscape
3.4.1 Evolution of the EDA industry
3.4.2 Cloud EDA software
3.4.3 Impact of IoT
3.5 Regulatory landscape
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.2 Industry pitfalls & challenges
3.7 Growth potential analysis
3.8 Porter’s analysis
3.9 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.