Electronic Design Automation Software Market to be Worth $22.21 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, May 3, 2022 /PRNewswire/ -- The global electronic design automation software market size is anticipated to reach USD 22.21 billion by 2030, growing at a CAGR of 9.1% from 2022 to 2030, according to a new study by Grand View Research Inc. The industry witnessed a minor setback due to the pandemic as a result of shuttering of factories; over the forecast period the market is projected to witness healthy growth. Miniaturization of chips and devices is anticipated to create opportunities for the electronic design automation (EDA) software market. The software helps lower manual errors in chip and IC design thereby favoring growth.

Key Insights & Findings from the report:

• EDA tools are pivotal to a chip design which is the heart of any electronic device. Globally, every industry is transforming itself through digitization, and ICs are the heart enabling this digitalization.
• The demand for EDA tools is anticipated to witness robust demand over the forecast period with a projected CAGR of 9.1% over the next 8 years.
• 5G proliferation will also be a key factor driving demand because 5G chipsets require a robust verification methodology to meet the challenges associated with conducting numerous tests to eliminate any design errors.
• North America captured the highest market share in 2021. The regional market size is projected to surpass USD 8.0 billion by 2030.
• Asia Pacific accounted for more than 30% of the overall market in 2021. A surge in demand for electronics devices together with the prevalence of key electronic component manufacturers in Greater China.
• Inorganic growth strategies will help beat competition while achieving a larger market share. Further to this, trademarks and patents are key to staying relevant in the industry and hence would be the area of focus for several vendors.

Read 61-page market research report, "Electronic Design Automation Software Market Size, Share & Trends Analysis Report By End-use (Microprocessors & Controllers, Memory Management Units), By Region And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Electronic Design Automation Software Market Growth & Trends

The design of modern sophisticated processors to meet the ever-growing demand for consumer electronics has led to the rising popularity of FinFet architecture. This trend is anticipated to augment market growth over the coming years. As devices get more compact, the demand for miniature electronic components will gain traction over the next few years, subsequently creating opportunities for solutions that offer error-free chip & IC design capabilities. The need to eliminate design flaws while ensuring faster time to market is expected to create healthy demand for EDA software solutions over the forecast period.

EDA vendors often add an extra layer of authentication to their products as these tools are easily subject to copyright infringements, patents, and trademarks. This also helps vendors price their products higher under the authenticity tag. However, due to this the penetration of EDA solutions among small and medium-sized companies has not reached its full potential, and vendors can explore the space to ensure consistent revenue streams for the long term. There exist several open-source EDA tools that could pose a threat to well-established vendors in the space.

Globally the EDA software market is led by the top three companies including Mentor Graphics, Cadence Design Systems, Inc; and Synopsys, Inc. Complexity in electronic designs is increasing primarily due to AI, industrial, automotive, consumer electronics, and other high impact markets. As a result, semiconductor companies are often left grappling with a design challenge. Therefore, the demand for EDA tools becomes even more crucial.

For instance, in August 2020, Synopsys, Inc. introduced a virtual prototyping solution for integrated electric vehicles. This new solution leverages the company's other technologies such as Virtualizer, SaberRD, TestWeaver, and Silver, thereby enhancing the specific needs in developing an electric vehicle. The introduction of this solution is expected to strengthen the company's position in the electric vehicle market space.

Electronic Design Automation Software Market Segmentation

Grand View Research has segmented the global electronic design automation software market based on end-use, and region:

EDA Software Market End-Use Outlook (Revenue, USD Million, 2018 - 2030)

• Microprocessors & Controllers
• Memory Management Unit (MMU)
• Others

EDA Software Market - Regional Outlook (Revenue, USD Million, 2018 - 2030) 

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• Middle East and Africa (MEA)

List of Key Players of Electronic Design Automation Software Market

• Cadence Design Systems, Inc.
• Synopsys, Inc.
• Mentor, a Siemens Business
• Silvaco, Inc.
• Vennsa Technologies
• ANSYS, Inc.
• Altium LLC.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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