Electronic Design Automation Market to cross $14bn by 2024

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Electronic Design Automation Market - By
Product, Application, Region Forecast 2024
Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Electronic Design Automation
Market

• Global EDA Market was valued at around USD 8.5
  billion in 2016, is set to exceed 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.

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Continued...

• 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.
• 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.

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UK EDA market, by application, 2016 2024 (USD
Million)

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Continued...

• 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.
• 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.

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Continued...

• 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.

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Companies

• 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
  (MA).
• 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 RD activities to withstand the
  electronic design automation market market growth.

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