According to the report, the EDA Tools market is expected to grow from USD 8,941 million in 2019 to USD 11,722 million by 2026, growing at a CAGR of 9.74% from 2019 to 2026.
Market Overview
The global EDA Tools market is estimated to be USD 8,941 million in 2019 and is expected to reach USD 11,722 million by 2026, with a CAGR of 9.74% during the forecast period.
An increase in the production of smart devices is a major factor that will have a positive impact on the growth of the EDA market over the forecast timespan. In recent years, the industry has witnessed a rise in the demand for consumer electronics. The growing popularity of smartphones and tablets in recent years has seen an increase in camera modules, proximity sensors, accelerometers, and touchscreens. Sensors are rapidly expanding beyond image and motion sensing to features that can measure human health, food calorie composition, altitude, and humidity indicators owing to the increase in the variety of consumer IoT applications such as wearables. These factors are driving the electronic design automation market over the coming years.
Electronic design automation (EDA), also referred to as electronic computer-aided design (ECAD), is a category of software tools for designing electronic systems such as integrated circuits and printed circuit boards. The tools work together in a design flow that chip designers use to design and analyze entire semiconductor chips. Since a modern semiconductor chip can have billions of components, EDA tools are essential for their design.
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Competitive Insights
Key players operating in this market include Agnisys Technology Pvt Ltd., Aldec, Altium Ltd, Ansys Inc., Arm Holdings, Cadence Design Systems Inc., Keysight Technologies Inc., JEDA Technologies, Mentor Graphic Corporation, MunEDA GmbH, Siemens PLM Software Ltd., Synopsys Inc., and Zuken Inc.
Regional Insights
North America dominates the EDA Tools market with a share of 38.96%. The region is a leading adopter and developer of new technologies such as 5G technology for smartphone users. In addition, the presence of a developed broadband & wireless infrastructure and government support for the development of IoT-based technologies are driving smart consumer electronics industry thereby providing an impetus to the EDA market growth. Fast broadband services and the development of these infrastructures in remote and underserved locations are aiding the development of the IoT and smart electronics market in the region. Moreover, the Federal Communications Commission (FCC) is further aiding in promoting 5G technologies. The U.S. has witnessed a technological boom and the emergence of several small- and large-scale fabless companies. Factors, such as high demand for consumer electronics devices, favorable government policies, the rise in government funding in technology projects, and robust economic conditions of several countries will drive the EDA market growth. Increasing demand to differentiate products is encouraging OEMs to incorporate new technologies and provide products with large displays with better resolution, storage capacity, and high processing speed. These cutting-edge functionalities will increase the complexity of mobile System on Chips (SoCs). Following this, SoC designers are using semiconductor IP cores from third-party service providers to decrease the risk of design integration in the devices, contributing to the semiconductor IP electronic design automation market growth. Europe is currently leading the Asia Pacific with a share of 30.22% and 19.47%.
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Based on the type, the EDA Tools market can be segmented into Solution, Bundled, Standalone, Services, Managed, and Professional.
Application Insights
Based on application, the EDA Tools market is divided into Design, Simulation, and Verification.
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Audience
l EDA Tools manufacturers
l Distributors and resellers of EDA Tools
l EDA Tools industry associations
l Product managers, EDA Tools industry administrator, C-level executives of the industries
l Market Research and consulting firms
l Small and Medium-sized Enterprises (SMEs)
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