Substantial Demand for ICs in IT & Telecommunication and Automotive Sectors to Positively Influence Market Growth
Rockville, Nov. 23, 2022 (GLOBE NEWSWIRE) — As per a new industry analysis by Fact.MR, a market research and competitive intelligence provider, the global electronic design automation (EDA) software market is estimated to exceed a valuation of US$ 11.2 billion in 2023 and grow at a high-value CAGR of 8.6% through 2033.
An explosion in the usage of IoT devices can be attributed to the perfect storm of technological and societal changes; there is rising demand for IoT solutions in most IoT end markets. Global IoT connections grew by 8% in 2021 accounting for 12.2 billion active end users, which represents ample opportunities for companies.
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Smartphones, wearables, TVs, and smart home systems are a few of the established IoT devices that have shifted from niche sectors to be widely discussed and adopted. The incorporation of ICs in all these consumer electronic devices is expected to drive the market for EDA software. Vast developments in the processing power and device miniaturization of smart connected devices will unleash a new era for electronic design automation software companies.
Key Takeaways from Market Study
By type, design EDA software is expected to remain the most attractive vertical in the global market and account for valuation of US$ 4.3 billion in 2023.
Based on deployment, web-based EDA software is likely to be valued at US$ 7.3 billion in 2023 and holds a market share of 65.4%.
Europe is expected to generate a valuation of US$ 3 billion in 2023.
The North America market is set to witness a CAGR of 8.5% over the forecast period.
The U.S. is likely to hold a share of 23.7% of the global market.
China is expected to generate a valuation of US$ 1.5 billion in 2023 and exhibit a CAGR of 8.1% through 2033.
Competitive Landscape
Prominent suppliers of EDA software globally are Aldec, Inc., Altair Engineering Inc, Altium Limited, ANSYS, Inc, Cadence Design Systems, Inc., ELECTRO-SYSTEM CO.LTD, EMA Design Automation, Inc, Faraday&Future Inc, Intel Corporation, Intercept Technology, Keysight Technologies, Microsemi, Pulsic Limited, Siemens, Silvaco, Inc., Synopsis, Inc., Tabula, Taiwan Semiconductor Manufacturing Company Limited, WestDev 2022, and Zuken.
These key manufacturers are constantly innovating software to meet modern-day challenges pertaining to the production of electronic systems due to the rise of VLSI systems.
In February 2022, Intel announced a partnership with the world’s top EDA software firms Siemens EDA, Ansys, Cadence, and Synopsis as a part of the ‘IFS Acceleration’ program to build an ecosystem to support and service its new foundry service business. This association will let software providers fine-tune their chip design software for Intel’s latest process and packaging technologies.
Fact.MR has provided detailed information about the service offering of key vendors of EDA software positioned across regions, sales growth, deployment scale, and speculative technological expansion, in the recently published report.
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Market Development
There are several software vendors providing electronic design automation software, making the market highly competitive. Software providers are leveraging the customization of their offerings to cater to the dynamic demand of vivid end users.
Synopsys, a leading American electronic design automation company on March 2022 launched their cloud optimized electronic design automation deployment model that offers chip and system design flexibility at unmatched levels with the help of a single source. The software provider’s cloud optimized design and verification tools will be available through Synopsys Cloud with pre-optimized infrastructure on ‘Microsoft Azure’, that will be capable of addressing complex concerns in chip development.
In August, 2022 Siemens announced its expansion of early design verification solutions for Calibre platform for verification of ICs. The extended technology in EDA space is aimed at providing users latest technologies required to quickly deliver world class silicon products.
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Segmentation of EDA Software Industry Research
By Type :
Simulation
Design
Verification
By Operating System :
Windows
MAC
Linux
Unix
By Source Code :
Open Source
Proprietary
Perpetual (One-time License)
Subscription
By Deployment :
Standalone
Web-based
By End Use :
Educational & Training
Professional
Aerospace & Defense
Automation and Robotics
Automotive
Discrete Manufacturing
Electrical and Electronics
Healthcare Devices
IT & Telecommunication
Semiconductor Industry
Others
By Region :
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global electronic design automation software market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of basis of type (simulation, design, verification), operating system (Windows, MAC, Linux, Unix), source code (open source, proprietary (perpetual (one-time license), subscription)), deployment (standalone, web-based), and end use (educational & training, professional, aerospace & defense, automation & robotics, automotive, discrete manufacturing, electrical & electronics, healthcare devices, IT & telecommunication, semiconductor industry, others), across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, MEA).
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Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories. We are committed to deliver insights that help businesses gain deeper understanding of their target markets. We understand that making sense of the vast labyrinth of data can be overwhelming for businesses. That’s why focus on offering insights that can actually make a difference to bottom-lines.
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