Electronic Design Automation Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 – 2030
Electronic Design Automation Market: Overview
The electronic design automation market has been anticipated to experience noteworthy growth avenues in the upcoming years. And this increasing market growth is on the back of the growing demand for integrated circuits in the market. Further, the increasing adoption of connected devices and technologically advanced consumer electronics have been some of the key drivers to boost opportunities in the market.
In recent years, electronic systems are becoming more sophisticated. So, the infrastructure, power, and processing required for the building, designing, validating, and testing of these systems have also increased at a considerable rate. Electronic design automation and computer-aided engineering are also fueling demand for data management and enormous scale computation in the next-generation electronic devices. A large portion of designing time is spent in these systems to verify the components. So, the companies serving in the electronic design automation market have made larger investments in high-performance storage systems and large server farms in order to enable fast turnaround and excellent quality of the semiconductor validation and test.
Electronic Design Automation Market: Key Trends
There has been a significant increase in the adoption of connected devices, for example, smart home systems, wearables, and smartphones for daily application. The integration of these devices with power electronics has been predicted to drive growth prospects in the electronic design automation market. The increasing need for high performance along with low power consumption capability has been anticipated to fuel demand impetus in the market in the years to come.
There is an increase in the count of smart devices that can be connected through IoT include smartwatches, health & fitness tracker, portable medical devices, smart meters, smart thermostats, security systems, and home appliances. These devices are lower in cost and compact in size. Even some of these devices can operate and communicate autonomously. The design and verification of the IoT devices have been the prominent features of electrical design automation solutions. Further, these devices can be developed along with the existing electronic design automation tools. Based on these factors, the electronic design automation market has been predicted to experience significant growth opportunities in the upcoming years.
Electronic Design Automation Market: Competitive Dynamics and Key Developments
The key players operating in the electronic design automation market have been incorporating various strategies to fuel growth prospects in the forthcoming years. Strategic collaborations, geographical expansion, product approvals, mergers, acquisitions, partnerships, and novel product launches are used by the key companies to develop expansion avenues in the market.
For instance, Tower Semiconductor and Cadence Design Systems, Inc. have jointly launched SP4T RF SOI switch reference flow that has been silicon validated. This product uses integrated EM analysis and the Virtuoso Design Platform. This flow demonstrated various benefits to use a single design environment for the chip and also package simulation and co-design.
Some prominent players in the global electronic design automation market include:
Electronic Design Automation Market: Regional Assessment
The electronic design automation market is spread around different geographical locations around the world including North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Among these, the Asia Pacific region has been anticipated to grow at a rapid pace during the forecast period. This rapid market growth can be attributed to the dominating foothold of South Korea, Taiwan, Japan, and China in the semiconductor industry. The Asia Pacific region has been the home of various semiconductor companies. In addition to this, increasing government investments in the region for technological advancements are expected to fuel expansion opportunities in the market in the years to come.
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