New York, Aug. 18, 2023 (GLOBE NEWSWIRE) -- According to Persistence Market Research, the global electronic design automation (EDA) market is predicted to expand at a CAGR of 8.9% from 2023 to 2033. The report forecasts the valuation of the EDA market to reach US$ 8.05 billion by 2033-end.
Projected increase in electric vehicle demand and rising digitization of vehicles are expected to drive the demand for EDA over the coming years. Advancements such as autonomous driving, connected vehicles, and remote diagnostics are being integrated into vehicle development, contributing to the expanding need for EDA within the automotive sector.
Supercharge Your Business Strategy with Market Intelligence: Request Your Free Sample Copy Now@ https://www.persistencemarketresearch.com/samples/31694
Furthermore, rising adoption of electric vehicles is expected to boost worldwide demand for EDA solutions in this industry, fostering continued growth of the target market over the forecast period.
Key Takeaways from Market Study
- The global EDA market is valued at US$ 3.42 billion in 2023.
- By solution, electronic design automation software (for PCB design) is set to account for a leading market share in 2033.
- By application, the communication segment is estimated to expand at a CAGR of 10.3% through 2033.
- By region, North America is expected to be the market leader in electronic design automation with a share of 28.1%, followed by East Asia at 24.3%.
“Deployment of 5G networks as well as rising adoption of EVs and industry 4.0 solutions are contributing to the growth of the EDA market,” says a Persistence Market Research analyst.
If You want to Purchase Specific Insights By Segment/Region/Competitor, Request For Customization@ https://www.persistencemarketresearch.com/request-customization/31694
Growing Complexity of Chip Design Due to Technological Advancements Driving Demand for EDA Solutions
Advancements in AI, IoT, and 5G, chip miniaturization, enhanced device functionality, heightened security measures, and the evolving complexity of semiconductor design collectively contribute to the growing intricacy of semiconductor design. Consequently, this complexity drives the need for EDA tools and solutions, aiding designers in efficiently creating intricate designs. High-quality EDA solutions further expedite the design process, enabling designers to navigate complexities and develop intricate designs more efficiently.
Competitive Analysis
Large firms are realising the strategic value of becoming industry leaders in semiconductor design, which is prompting them to employ EDA technologies. To increase productivity, businesses are attempting to successfully integrate AI/ML technologies with EDA solutions.
If You Want To Know The Business Opportunity/Market Value, Purchase The Premium Insight @ https://www.persistencemarketresearch.com/checkout/31694
Top Key Players are Siemens, Cadence Design Systems., Ansys, Synopsys, Zuken, Alden, Keysight Technologies, Altium, Xilinix
Recent Developments
- In July 2023, Siemens introduced the Calibre DesignEnhancer IC design tool, which will enable speedier tapeout while also improving design production and circuit design dependability.
- In May 2023, Cadence acquired the EDA tool manufacturer Pulsic in order to boost its AI capabilities.
- In March 2023, Siemens will add AI and big data management to its Questa Verification EDA tools. The strategy attempts to address the issue of design teams devoting more time to circuit and semiconductor design verification.
More Valuable Insights on Offer
Persistence Market Research’s report on the electronic design automation market is segmented into three major sections: solution (electronic design automation [EDA] software [for PCB design], services [design & implementation support & maintenance, consulting services]), application (communication, consumer electronics, automotive, industrial, aerospace & defense, healthcare & medical, others), and region (North America, Latin America, Europe, East Asia, South Asia and Pacific, Western Europe, Eastern Europe, Central Asia, Russia & Belarus, Balkans & Baltics, and the Middle East and Africa).
For additional information on how the electronic design automation market will shape up in the near future, write to the team of expert research analysts at media@persistencemarketresearch.com
Other Trending Reports:
- Auto Repair Software Market Size
- Project Portfolio Management (PPM) Market Size
- Complex Event Processing Market Share
- Financial Cards and Payments Market Size
- 3D Retail Merchandising Software Industry
- Railway Management System Industry
- Marketing Automation Software Industry
- Procure To Pay P2P Solutions Market Share
About the Electronics, Semiconductors, and ICT Division at Persistence Market Research
Expert analysis, actionable insights, and strategic recommendations – the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.
Contact
Rajendra Singh
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
+1-646-568-7751
United States
USA - Canada Toll-Free: 800-961-0353
Email: sales@persistencemarketresearch.com
