Global Electronic Design Automation Tools (EDA) Market - Segmented by Product Type (Printed Circuit Boards (PCB), Integrated Circuits (IC), Semiconductor Intellectual Property (SIP)), End User (Automotive, Manufacturing, and Healthcare), and Geography - Growth, Trends, and Forecast (2018 - 2023)
The electronic design automation (EDA) tools market is projected to register a CAGR of 12.2% during the forecast period (2018 - 2023).
The scope of the report includes insights about several products offered by major players. The End-users segment includes automotive, manufacturing, healthcare, and aerospace & defense sectors. The regions included in this study are North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Electronic Design Automation consists of software tools used in the designing of electronic systems and components, such as integrated circuits and printed circuit boards. The tools allow hardware and software providers to design and simulate several electronic components and systems. The demand of EDA tools has increased significantly due to the reduction in time of electronics component or system design. Additionally, the intense competition in the electronic industry is driving the manufacturers to address such issues. Increasing automation in automobiles, along with the rapid growth of connected devices is expected to increase the demand for advanced semiconductor devices, thereby increasing the growth of the electronic design tools market.
Demand for Compact Electronic Devices
The demand for compact electronic devices has been increasing across several sectors, such as automotive and industrial manufacturing, and has compelled the IC manufacturers to increase investment in R&D, to reduce the size while improving the performance of ICs. This has led to the development of microelectromechanical systems (MEMS) and 3D semiconductor devices. Thus, in order to develop better products with advanced deposition and pattering, the adoption electronic design automation tools has been increasing.
North America Occupies a Significant Market Share
Factors, such as, economic growth, favorable government policies, and increasing demand for consumer electronic devices in the US have increased the market’s growth. The intensifying significance of the IoT and the presence of prominent semiconductor device manufacturers, such as Intel, are expected to impact the market during the forecast period.
Key Developments in the Market
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