Electronic Design Automation Market to Record 10.86% Y-O-Y Growth Rate in 2021 | Agnisys Inc., Aldec Inc., and ANSYS Inc. emerge as dominant players | Technavio
NEW YORK, Dec. 17, 2021 /PRNewswire/ --
Electronic Design Automation Market Facts at a Glance-
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According to the recent market study by Technavio, the Electronic Design Automation Market Size is expected to increase by USD 5.68 billion from 2020 to 2025. However, the growth momentum in the market is expected to decelerate at a CAGR of 9.03% during the forecast period. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
APAC will register the highest growth rate, occupying 47% of the global market share. China, Japan, and South Korea (Republic of Korea) are the key markets for electronic design automation in APAC. During the forecast period, the market will witness faster growth in APAC than in other regions.
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The electronic design automation market is concentrated. The concentrated nature of the market is increasing the competition and the vendors are deploying growth strategies such as new product launches and engaging in mergers and acquisitions to stay competitive and drive revenue.
Agnisys Inc.: The company offers electronic design automation such as IDesignSpec, IDS NextGen, and others.
Aldec Inc.: The company offers electronic design automation such as ALINT-PRO and others.
ANSYS Inc.: The company offers electronic design automation through its product HFSS.
Autodesk Inc.: The company offers electronic design automation software named EAGLE.
Cadence Design Systems Inc.: The company offers electronic design automation through its Spectre Simulation Platform.
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Regional Market Outlook
The electronic design automation market growth in APAC will be significant during the forecast period. The region is creating several growth opportunities for market players. The increase in electronic device manufacturing will drive the growth of the electronic design automation market in APAC. The report also offers a comprehensive analysis of the growth of the market across other regions such as Europe, MEA, North America, and South America. The US and Germany are identified as prominent markets for electronic design manufacturing.
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Latest Drivers & Trends Driving the Market-
The global growth in the demand for electronic products has consequently fueled the semiconductor market growth. This has increased the need for designing ICs for use in sophisticated devices. To achieve this, semiconductor manufacturers are increasing their efforts to reduce the design gaps by limiting failures and losses incurred by faulty products. This has increased the significance of electronic design automation among semiconductor manufacturers, which is driving market growth.
Most of the growth in the electronic design automation market is highly dependent on the semiconductor and electronics industry. Electronic device manufacturing is highly prone to demand fluctuations, which increases the supply-demand gap in the market. Moreover, the growing complexity of designs in the semiconductor industry increases the risks associated with designing gaps, which results in delayed development cycles. Many such factors are expected to reduce the growth potential in the global electronic design automation market.
Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.
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