Global Electronic Design Automation Software Market Size, Share, Growth Analysis, By Application(Semiconductor design, printed circuit board (PCB) design), By Offerings(Software tools and services) - Industry Forecast 2024-2031

Global Electronic Design Automation Software Market size was valued at USD 11.10 billion in 2022 and is poised to grow from USD 12.11 billion in 2023 to USD 24.31 billion by 2031, growing at a CAGR of 9.10% during the forecast period (2024-2031).

The Global Electronic Design Automation (EDA) software market is on a consistent growth trajectory, driven by the escalating demand for electronics and advancements in technologies such as AI and IoT. The growing intricacy of electronic systems, coupled with the amalgamation of diverse components into unified products, underscores the increasing significance of system-level design. EDA software providers are strategically focusing on delivering solutions that empower designers to operate at elevated levels of abstraction, streamlining the design and validation of entire systems rather than individual components. This approach aims to diminish design cycle times and enhance collaboration among diverse design teams. The emergence of cloud computing in the EDA software sector provides designers with remote access to potent computational resources. Cloud-based EDA solutions are positioned to tackle scalability challenges associated with large and complex designs, enabling design teams to capitalize on the cloud's flexibility for managing peak workloads, fostering more efficient collaboration, and reducing reliance on substantial on-premises infrastructure. Key market trends encompass the escalating complexity of chip designs, a shift towards cloud-based solutions, and the integration of EDA tools across diverse industries beyond traditional electronics. For the most recent insights, it is advisable to refer to current market reports.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Electronic Design Automation Software Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Electronic Design Automation Software Market Segmental Analysis

The global electronic design automation (EDA) software market can be segmented based on application, offering, and region. In terms of application, it encompasses areas like semiconductor design, printed circuit board (PCB) design, and electronic system design. The market's offerings include tools for computer-aided design (CAD), computer-aided engineering (CAE), and IC physical design. Geographically, the market is divided into regions such as North America, Europe, Asia-Pacific, and the rest of the world.

Drivers of the Global Electronic Design Automation Software Market

The growing desire for compact yet potent electronic devices has heightened the intricacy of designs. In navigating this complexity, Electronic Design Automation (EDA) software emerges as a pivotal player, offering essential tools for simulation, verification, and optimization. With the escalating intricacy of designs, there's an increasing demand for advanced EDA solutions, propelling the expansion of the market.

Restraints in the Global Electronic Design Automation Software Market

EDA (Electronic Design Automation) software tools often come with a high price tag, attributed to their specialized functionality and the substantial investment in research and development. This poses a challenge for smaller businesses and individual designers, hindering their ability to access the latest tools. The market's growth potential is constrained by the delicate balance required to address pricing pressures while offering advanced features, impacting the affordability of these crucial design tools for a broader user base.

Market Trends of the Global Electronic Design Automation Software Market

The EDA software market has integrated artificial intelligence (AI) and machine learning (ML) technologies to elevate different facets of the design process. These advancements are employed to optimize chip design, automate mundane tasks, forecast potential design issues, and enhance overall efficiency. The anticipation is that AI-driven EDA tools will play a pivotal role in expediting design iterations, minimizing errors, and enhancing design performance.