The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The electronic design automation software (EDAS) market has witnessed robust growth, climbing from $30.43 billion in 2023 to $32.24 billion in 2024, boasting a Compound Annual Growth Rate (CAGR) of 5.9%. The surge in the historic period can be attributed to the escalating complexity of integrated circuits, a booming IoT and consumer electronics market, increased demand in aerospace and defense applications, surging automotive electronics, and the rise in PCB design and manufacturing.

Driving Forces for Historic Growth

• Increased complexity of integrated circuits.
• Growth in IoT and consumer electronics market.
• Expansion in aerospace and defense applications.
• Surge in automotive electronics.
• Rise in PCB design and manufacturing.

Anticipating Strong Growth Ahead

The electronic design automation software market is poised for further robust growth in the coming years, projecting an increase to $40.13 billion in 2028, with a CAGR of 5.6%. The growth in the forecast period is fueled by developments in quantum computing, a heightened emphasis on cybersecurity, advancements in 3D packaging and advanced interconnects, international trade dynamics, and the impact of environmental regulations.

Catalysts for Future Growth

• Quantum computing development.
• Emphasis on cybersecurity.
• Advancements in 3D packaging and interconnects.
• Impact of international trade and geopolitical factors.
• Stringent environmental regulations.

Key Trends Shaping the Future

• Adoption of digital twin technology.
• Design for reusability gaining prominence.
• Real-time design analytics becoming essential.
• Distributed and collaborative design on the rise.
• Design automation focused on IoT security.

IoT and Connected Devices Ignite Market Expansion

Driving Force Behind Current Growth

• The growth of the Internet of Things (IoT) and connected devices is a major driver for the electronic device automation software market.
• Automation processes driven by IoT reduce labor and operational costs while increasing business speed.
• IoT aims to build an ecosystem connecting everything through embedded sensors, software, and other technologies.

Key Market Players

• Major companies driving EDAS market growth include Aldec Inc., Altium LLC, Ansys Inc., Cadence Design Systems Inc., and Synopsys Inc.

Embracing Technological Innovations for a Competitive Edge

Technological Advancement as a Key Trend

• EDA software market is witnessing a surge in technological advancements.
• Companies focusing on providing technologically-advanced solutions to strengthen their market positions.
• Technologies such as FinFet, AI, VR, IoT, and SoC being implemented to present new growth opportunities for EDA tools.

Strategic Acquisition for Market Expansion

• Ansys acquires Phoenix Integration in May 2021, enhancing its engineering simulation software portfolio.
• Phoenix Integration’s software facilitates model-based engineering (MBE) and model-based systems engineering (MBSE).

Market Segmentation for Precision Solutions

1. Type: Computer-Aided Engineering (CAE), IC Physical Design And Verification, Printed Circuit Board And Multi-chip Module (PCB And MCM), Semiconductor Intellectual Property (SIP).
2. Application: Communication, Consumer Electronics, Automotive, Industrial, Aerospace And Defense, Medical.
3. End-Use: Microprocessors And Controllers, Memory Management Units.

Regional Dynamics

• North America emerges as the largest region in the electronic design automation software market in 2023, signifying its pivotal role in industry growth.

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The Electronic Design Automation Software Global Market Report 2024  provides comprehensive insights on the electronic design automation software market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the electronic design automation software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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