Electronic Design Automation Market worth $26.2 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, May 17, 2023 /PRNewswire/ -- The global electronic design automation market is expected to be valued at USD 14.5 billion in 2022 and is projected to reach USD 26.2 billion by 2028; it is expected to grow at a CAGR of 9.8% from 2023 to 2028 according to a new report by MarketsandMarkets™. The growth of the electronic design automation system market is propelled by adoption of electronic design automation by industries such as consumer electronics, healthcare, automotive. However, constant technological changes and high complexity are restraining the growth of the market.

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Electronic Design Automation Market Report Scope:

Semiconductor IP segment is expected to hold the largest share during the forecast period.

Semiconductor IP (Intellectual Property) refers to pre-designed circuitry used to build integrated circuits and other electronic components. Semiconductor IP can be licensed and reused by other companies to save time and costs in the design process. The semiconductor IP market has the highest market share in the electronic design automation (EDA) market because of the benefits it offers to semiconductor companies. The demand for semiconductor IP is expected to continue to grow in the coming years, driven by the increasing complexity of semiconductor designs and the need for faster time-to-market for new products. The semiconductor IP market is highly competitive, with several major players such as ARM, Synopsys, and Cadence Design Systems dominating the market.

Cloud-based technology highest CAGR in deployment segment during the forecast period.

Cloud-based EDA tools offer several benefits over traditional on-premises solutions. They are highly scalable, allowing companies to quickly and easily add or remove computing resources as needed. This makes it easier for companies to manage fluctuations in demand and to scale up their design and verification efforts without the need for significant capital investments. Additionally, cloud-based EDA tools offer improved data security and backup capabilities. Cloud service providers often have more robust security measures in place than individual companies, and they can offer automated backup and disaster recovery solutions to protect against data loss. These advantages are having positive impact on cloud-based technology segment in electronic design automation industry.

Automotive industry is projected to witness growth at the highest CAGR during the forecast period.

The modern automobiles are becoming increasingly complex, incorporating a wide range of electronic systems and components. These systems include safety features such as advanced driver-assistance systems (ADAS), infotainment systems, and other electronic controls that require advanced design and verification processes. This complexity has led to increased demand for EDA tools that can help automotive manufacturers design and verify these electronic systems efficiently. the automotive industry is undergoing a significant transformation towards electric and autonomous vehicles. These technologies require advanced electronic systems and components, such as electric motors, battery management systems, and sensors, which require advanced design and verification processes. As a result, the demand for EDA tools is expected to increase significantly.

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APAC to hold the largest share of the electronic design automation market throughout the forecast period.

The Asia Pacific region is home to some of the world's largest semiconductor and electronics manufacturers, such as Samsung, TSMC, and Huawei. These companies are major users of EDA tools and are driving the demand for EDA solutions in the region. Moreover, the Asia Pacific region has a rapidly growing electronics industry, particularly in countries such as China and India, which are witnessing strong economic growth. The demand for consumer electronics, such as smartphones, laptops, and tablets, is increasing rapidly in the region, driving demand for EDA tools.

The electronic design automation companies includes major Tier I and II players like Cadence Design Systems, Inc. (US), Synopsys, Inc. (US), Siemens (Germany), ANSYS, Inc. (US), Keysight Technologies, Inc. (US), Advance Micro Devices (US), eInfochips (US), Altium Limited (Australia), Zuken Inc. (Japan), Silvaco, Inc. (US), are some of the key players in the electronic design automation market.

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