Electronic Design Automation Software Market
The Business Research Company recently released a comprehensive report on the Global Electronic Design Automation Software Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.
According to The Business Research Company’s, The electronic design automation software market size has grown strongly in recent years. It will grow from $30.43 billion in 2023 to $32.24 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to increased complexity of integrated circuits, growth in iot and consumer electronics market, growth in aerospace and defense applications, growth in automotive electronics, rise in pcb design and manufacturing.
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Market Drivers and Trends:
The growing semiconductor industry is expected to propel the growth of the electronic device automation (EDA) software market going forward. The semiconductor industry is a sector of the electronics industry focused on the research, development, design, manufacturing, and distribution of semiconductor devices, commonly referred to as chips or integrated circuits. EDA software accelerates the semiconductor design and manufacturing process, reduces errors, enhances the quality of semiconductor devices, and contributes to innovation by enabling semiconductor companies to develop advanced and efficient electronic components and systems. For instance, in September 2023, according to the Semiconductor Industry Association, a US-based trade association and lobbying group, global semiconductor industry sales totalled $43.2 billion during the month of July 2023, an increase of 2.3% compared to the June 2023 total of $42.2 billion. Therefore, the growing semiconductor industry is driving the growth of the electronic device automation (EDA) software market.
Major companies operating in the electronic design automation software market are focused on introducing innovative solutions for streamlining and accelerating chip design DFT (design-for-test) processes to gain a competitive edge in the market. Streamlining and accelerating chip design DFT processes refer to the use of DFT (design-for-test) techniques to improve the efficiency and speed of the chip design process. For instance, in October 2023, Siemens Digital Industries Software, a US-based computer software company, launched Tessent RTL Pro, an EDA (Electronic Design Automation) software designed to aid IC (integrated circuit) design teams in streamlining and accelerating a wide range of crucial design-for-test (DFT) procedures for their upcoming designs. Using rapid synthesis and ATPG (automated test pattern generation) to find and fix outlier blocks, Siemens’ Tessent software enables the analysis and insertion of the majority of their DFT logic relatively early in the design phase. Early in the design flow, Tessent RTL Pro automates the analysis and insertion of test points, wrapper cells, and x-bounding logic. This can reduce design cycles and enhance the testability of their designs.
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Major Key Players of the Market:
Aldec Inc.; Altium Llc; Ansys Inc.; Cadence Design Systems Inc.; Synopsys Inc.; Siemens AG; Zuken Inc.; Silvaco Inc.; Keysight Technologies Inc.; eInfochips Inc.; Xilinx Inc.; Vennsa Technologies Inc.; Boldport Limited; ProteanTecs Ltd.; Tempo Automation Holdings Inc.; Solido Design Automation Inc.; DeFacTo Technologies Pvt. Ltd.; IC Manage; Ing.-Büro FRIEDRICH GmbH; JEDA Technologies Inc.; Lauterbach GmbH; Shanghai Hejian Industrial Software Group Co. Ltd.; Concurrent EDA LLC; edXact SA; Altair Engineering Inc.; Lattice Semiconductor Corporation; Microchip Technology Inc.; AWR Corporation; Averant Inc.; Carbon Design Systems
Electronic Design Automation Software Market 2024 Key Insights:
• The electronic design automation software market size is expected to see strong growth in the next few years. It will grow to $40.13 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%.
• Semiconductor Industry Growth Propels Eda Software Market
• Eda Market Introduces Innovative Dft Solutions For Streamlined Chip Design
• North America was the largest region in the electronic design automation software market in 2023.
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