Electronic Design automation Market worth $18.1 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Oct. 14, 2021 /PRNewswire/ -- According to a research report "Electronic design automation Market with COVID-19 Impact Analysis by Product Category (IC Physical Design & Verification), Deployment Mode (On-premises, Cloud-based), End-Use Application, End User, and Region - Global Forecast to 2026", published by MarketsandMarkets™, the global Electronic Design Automation Market was valued at USD 11.5 billion in 2020 and is estimated to reach USD 18.1 billion by 2026, registering a CAGR of 7.7% during the forecast period.
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The incorporation of electronic design automation for end users such as automotive industry, consumer electronics industry, and healthcare industry, are among the factors driving the growth of the electronic design automation market.
By product category, the IC physical design & verification segment is projected to hold the largest share of electronic design automation market during the forecast period
The market for the IC physical design & verification segment is expected to grow at the highest CAGR during the forecast period. The complexity of semiconductor verification and manufacturing requirements is constantly rising, making it increasingly difficult for IC design companies to provide cutting-edge, competitive products on a timely basis to a fast-moving market. To cater to the demand and achieve set goals, companies require electronic design automation solutions that can offer reliable results and assist them in achieving their aims.
By deployment mode, cloud-based technology is projected to witness the growth at higher CAGR during the forecast period
The cloud-based is expected to grow at a higher CAGR during the forecast period. As the cloud-based design and verification are expected to provide excellent outcomes in high-speed operational processes, reduce costs associated with the manufacturing of semiconductor chips, and allow companies to reduce time to market and speed up innovation while maintaining or lowering operating costs, it is expected to grow with the highest CAGR.
By end-use application, the microprocessor and microcontroller segment is projected to hold the largest share of electronic design automation market during the forecast period
The memory management units segment of the electronic design automation market is projected to record the highest CAGR during the forecast period. The increasing digitalization, which has accelerated the need for faster processors and efficient memory management tools have accelerated the growth. Companies have been using organic and inorganic growth strategies for the development o the segment.
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By end user, the consumer electronics industry is projected to witness growth at the highest CAGR during the forecast period
The consumer electronics industry held the largest size of the electronic design automation market in 2020 and a similar trend is likely to be observed during the forecast period. This segment has witnessed rapid growth in the last few years owing to factors such as advancements in technologies used in earphones and headphones; rising demand for technologically advanced, large-size television sets; increasing disposable income and spending capacity of consumers; and growing penetration of smartphones. Further, the top companies have been enhancing their product portfolios and cracking deals by signing agreements with various companies to improve their products by adopting electronic design automation solutions.
By region, APAC to hold the largest share of the electronic design automation market throughout the forecast period
In 2026, the electronic design automation market in APAC is expected to grow at the highest CAGR during the forecast period. The growth is attributed to the strong foothold of China, Japan, Taiwan, and South Korea in the semiconductor industry. The region is home to some of the largest semiconductor companies, such as Taiwan Semiconductor Manufacturing Company Limited (Taiwan), Samsung Electronics (South Korea), Semiconductor Manufacturing International Corporation (China), and HiSilicon (China). Additionally, with the ongoing global chip shortage, the governments of countries across the globe are making investments in the semiconductor industry, which is expected to boost market growth.
Cadence Design Systems, Inc. (US); Synopsys, Inc. (US); Siemens (Germany); ANSYS, Inc. (US); Keysight Technologies, Inc. (US); Xilinx, Inc. (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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