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Electronic Design Automation Market to hit $14bn by 2024: Global Market Insights, Inc.(March 12, 2018)
Sellbyville, Delaware, March 12, 2018 (GLOBE NEWSWIRE) --
EDA Market share is slated to surpass USD 14 billion by 2024; according to a new research report by Global Market Insights, Inc. The trend of miniaturization of semiconductors has allowed manufacturers to utilize electronic components in applications such as surgical devices and smart fitness products. Development of such devices is generating a high demand for the EDA market. The rising awareness and acceptance of smart fitness devices are encouraging electronic design companies to invest in the innovative design tools for developing enhanced products. Manufacturers are investing massively to develop several new miniaturized products to enhance the customer experience. Researchers are focusing on developing cost-effective and reliable products with the use of electronic design tools.
An increase in the production of smart devices is a major factor that will have a positive impact on the growth of the EDA market over the forecast timespan. In the recent years, the industry has witnessed a rise in the demand for consumer electronics. The growing popularity of smartphones and tablets in the recent years has seen an increase in camera modules, proximity sensors, accelerometers, and touchscreens. Sensors are rapidly expanding beyond image and motion sensing to features that can measure human health, food calorie composition, altitude, and humidity indicators owing to the increase in the variety of consumer IoT applications such as wearables. These factors are driving the electronic design automation market over the coming years.
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The U.S. has witnessed a technological boom and emergence of several small- and large-scale fabless companies. Factors, such as high demand for consumer electronics devices, favorable government policies, the rise in government funding in technology projects, and robust economic conditions of several countries will drive the EDA market growth. Increasing demand to differentiate products is encouraging OEMs to incorporate new technologies and provide products with large displays with better resolution, storage capacity, and high processing speed. These cutting-edge functionalities will increase the complexity of mobile System on Chips (SoCs). Following this, SoC designers are using semiconductor IP cores from third-party service providers to decrease the risk of design integration in the devices, contributing to the semiconductor IP electronic design automation market growth.
Browse key industry insights spread across 250 pages with 120 market data tables & 89 figures & charts from this 2018 report Electronic Design Automation (EDA) Market in detail along with the table of contents:
The North America EDA market will witness a high growth over the forecast timeframe owing to large-scale technological advancements. The region is a leading adopter and developer of new technologies such as 5G technology for smartphone users. In addition, presence of a developed broadband & wireless infrastructure and government support for the development of IoT-based technologies are driving smart consumer electronics industry thereby providing an impetus to the EDA market growth. Fast broadband services and the development of these infrastructures in remote and underserved locations are aiding the development of the IoT and smart electronics market in the region. Moreover, the Federal Communications Commission (FCC) is further aiding in promoting 5G technologies. In April 2017, FCC raised USD 19.80 billion to set up and promote these services across the country.
The EDA market consists of serval application sectors and consists of vendors, who are providing software tools, dedicated design services, and IP. The industry is presently dominated by many small and large vendors. Several major SIP companies are looking at the prospects to acquire other IP companies to expand their market share. The growth potential of the EDA market is anticipated to attract numerous new vendors trying to gain entry into the market. These new players are focusing on the distinct segments of IC design IP, which will help them gain a considerable market share.
Companies in the EDA market include Solido Design Automation, Mentor Graphics, Silvaco International, National Instruments, Sigasi, Pulsonix, Keysight Technologies, JEDA Technologies, Invionics, Intercept Technology, Inc., CadSoft Computer, Cadence Design Systems, Zuken, Inc. Xilinx, Inc., and Synopsys, Inc., among others. Companies in the EDA market are looking to spread their business and presence to developing countries and are implementing strategies such as Mergers and Acquisitions (M&A). Several vendors are acquiring smaller software or technology-based companies to enhance their core business. Vendors are facing intense rivalry and to face that, they are required to invest immensely in R&D activities to withstand the electronic design automation market market growth.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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