The electronic design automation market size is poised to grow at a CAGR of almost 7% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global electronic design automation market 2019-2023. (Graphic: Business Wire)
The global semiconductor market is recording a rapid technological transformation, which is giving rise to rapid product development and reduced time-to-market for developed products. Semiconductor manufacturers are focusing on reducing the design gaps to minimize failures and the cost associated with large scale manufacture of faulty products. This increases the significance of EDA among semiconductor manufacturers. EDA facilitates the designing of ICs to assess their form, fit, and functionality before they are fabricated. This helps semiconductor manufacturers in reducing the design gaps.
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As per Technavio, the growth in SoC-based devices will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Electronic Design Automation Market: Growth in SoC-Based devices
The adoption of SoC is growing substantially due to the high demand for smart wearable devices such as smart thermostats, smartwatches, fitness bands, and pet wearable devices. Moreover, innovations in the semiconductor, electronics, and software industries are compelling companies to develop tools to increase the potential of the connected devices. Many electronics manufacturers are combining components on a single SoC. This necessitates highly intricate chip designs, and therefore, EDA is used in the designing process. Thus, the growing development of SoC-based devices is expected to be one of the critical trends in the EDA market during the forecast period.
"Growth of smart cities and the consequent need for new product development will have a significant impact on the growth of the electronic design automation market during the forecast period," says a senior analyst at Technavio.
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Electronic Design Automation Market: Segmentation Analysis
This market research report segments the electronic design automation market by product (semiconductor IP, CAE, IC physical design and verification, PCB, and others), deployment (on-premises and cloud-based), and geography (the Americas, APAC, and EMEA).
The Americas led the market in 2018, followed by APAC and EMEA, respectively. However, during the forecast period, the APAC region is expected to witness the highest incremental growth due to factors such as the growing concentration of electronics manufacturers in the region along with the presence of a large number of semiconductor foundries.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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