The electronic design automation market is expected to grow by USD 4.7 billion during 2020-2024 according to the latest market research report by Technavio. Request a free sample report

Technavio has announced its latest market research report titled global electronic design automation market 2020-2024 (Graphic: Business Wire)

The adoption of semiconductor ICs across various end-user sectors such as automotive, healthcare, communication, IoT, and computing is growing rapidly. Moreover, increasing semiconductor content in electronic devices is driving the demand for devices such as MEMS and sensors. The growing adoption of semiconductors has also been driving innovation, resulting in the advent of devices such as fin-shaped field-effect transistor (FinFET) and 3D NAND. These emerging devices are more complex as they are fabricated at 2X nm and sub 1X nm node sizes. The high level of integration required for semiconductor ICs such as MEMS, FinFET, and 3D NAND increases the risks of design gaps while fabricating. EDA enables semiconductor manufacturers to assess the precision and component level structure before fabricating ICs. The rising adoption of semiconductor ICs across various applications is expected to drive the growth of the market.

As per Technavio, the increasing relevance of EDA will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Electronic Design Automation Market : Increasing Relevance of EDA

Over the years, EDA has been widely used to design an IC or to develop concepts for PCB manufacturing. However, at present, its criticality has increased for the electronic device manufacturers. EDA, being an integral part of electronic device manufacturing, has many advantages such as reduced cost, mitigation of risks, and faster product development cycles. Moreover, EDA products and services are also empowering innovators across various types of markets, from finance, mobile electronics to automotive, energy, medical, industrial, and media in the development of smart and secure products and applications. In addition, the advanced EDA software can help software developers in writing higher quality and more secure codes. Thus, the increasing relevance of EDA will drive the growth of the market during the forecast period.

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Electronic Design Automation Market: Segmentation Analysis

This market research report segments the electronic design automation market by product (semiconductor IP, CAE, IC physical design and verification, PCB and others), deployment (on-premises and cloud-based), and geography (APAC, Europe, MEA, North America and South America).

The APAC region led the electronic design automation market in 2019, followed by North America, Europe, South America and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the growing concentration of electronic manufacturers and the presence of a large number of semiconductor foundries.