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The electronic design automation market will register a CAGR of almost 7% by 2023
LONDON, Jan. 10, 2019 /PRNewswire/ -- About this market
Growing SoC-based devices to gain traction in the market. The growing adoption of SoC is a current trend. It is a key factor driving the growth of the global EDA market. The growing adoption is because of the high demand for smart wearable devices (smart thermostats, smartwatches, fitness bands, and pet wearable devices) and the flourishing field of cloud computing and IoT. Technavio's analysts have predicted that the electronic design automation market will register a CAGR of almost 7% by 2023.
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Market Overview
Growing significance of EDA in electronic design process
The growing demand for electronic devices has significantly augmented the growth of the global semiconductor market. Semiconductors are used in all the devices, including smartphones, wearables, and emerging IoT devices. With the growing popularity of these devices, capital investments in the semiconductor industry have increased exponentially over the years.
Increased risk of cyberhreat
Despite high security measures, the IT infrastructure might be vulnerable to attacks by hackers or can be breached owing to employee error, or other commotions that could lead to unauthorized disclosure or loss of delicate information.
For the detailed list of factors that will drive and challenge the growth of the electronic design automation market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Techman-Head Group and Brackett Aircraft Company the competitive environment is quite intense. Factors such as the growing SoC-based devices and the growing significance of EDA in electronic design process, will provide considerable growth opportunities to electronic design automation manufactures. Agnisys, Cadence Design Systems, Siemens, Silvaco, and Synopsys are some of the major companies covered in this report.
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