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Global Electronic Design Automation Market 2019-2023 | 7% CAGR Projection Over the Next Five Years | Technavio

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.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191217005532/en/

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