| Source: FACT.MR FACT.MR
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Rockville, Nov. 23, 2022 (GLOBE NEWSWIRE) — As per a new industry analysis by Fact.MR, a market research and competitive intelligence provider, the global electronic design automation (EDA) software market is estimated to exceed a valuation of US$ 11.2 billion in 2023 and grow at a high-value CAGR of 8.6% through 2033.
An explosion in the usage of IoT devices can be attributed to the perfect storm of technological and societal changes; there is rising demand for IoT solutions in most IoT end markets. Global IoT connections grew by 8% in 2021 accounting for 12.2 billion active end users, which represents ample opportunities for companies.
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Smartphones, wearables, TVs, and smart home systems are a few of the established IoT devices that have shifted from niche sectors to be widely discussed and adopted. The incorporation of ICs in all these consumer electronic devices is expected to drive the market for EDA software. Vast developments in the processing power and device miniaturization of smart connected devices will unleash a new era for electronic design automation software companies.
Key Takeaways from Market Study
Prominent suppliers of EDA software globally are Aldec, Inc., Altair Engineering Inc, Altium Limited, ANSYS, Inc, Cadence Design Systems, Inc., ELECTRO-SYSTEM CO.LTD, EMA Design Automation, Inc, Faraday&Future Inc, Intel Corporation, Intercept Technology, Keysight Technologies, Microsemi, Pulsic Limited, Siemens, Silvaco, Inc., Synopsis, Inc., Tabula, Taiwan Semiconductor Manufacturing Company Limited, WestDev 2022, and Zuken.
These key manufacturers are constantly innovating software to meet modern-day challenges pertaining to the production of electronic systems due to the rise of VLSI systems.
In February 2022, Intel announced a partnership with the world’s top EDA software firms Siemens EDA, Ansys, Cadence, and Synopsis as a part of the ‘IFS Acceleration’ program to build an ecosystem to support and service its new foundry service business. This association will let software providers fine-tune their chip design software for Intel’s latest process and packaging technologies.
Fact.MR has provided detailed information about the service offering of key vendors of EDA software positioned across regions, sales growth, deployment scale, and speculative technological expansion, in the recently published report.
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There are several software vendors providing electronic design automation software, making the market highly competitive. Software providers are leveraging the customization of their offerings to cater to the dynamic demand of vivid end users.
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Segmentation of EDA Software Industry Research
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Fact.MR, in its new offering, presents an unbiased analysis of the global electronic design automation software market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of basis of type (simulation, design, verification), operating system (Windows, MAC, Linux, Unix), source code (open source, proprietary (perpetual (one-time license), subscription)), deployment (standalone, web-based), and end use (educational & training, professional, aerospace & defense, automation & robotics, automotive, discrete manufacturing, electrical & electronics, healthcare devices, IT & telecommunication, semiconductor industry, others), across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, MEA).
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