Electronic Design Automation Market predicted to grow exponentially from 2018 to 2024
Date: 2018-08-16   Author: Ronak Bora  Category: #technology

Electronic Design Automation Market predicted to grow exponentially from 2018 to 2024

Global Electronic Design Automation Market set to reach USD 14 billion by 2024 Growing applications of IoT technology in connected devices are driving the demand for these tools in the industry. Technological advancements and the integration of the technology in several devices, such as smartphones, smart wearables, laptops, and computers, are growing rapidly. The penetration of the technology across applications including consumer electronics and automobiles is growing the need for design tools in developing electronic components, which can be integrated into the devices to provide the internet connectivity.

The growing demand for miniaturized electronic components is driving the EDA market growth. These components are integrated into several devices such as smartphones, smart watches, and smart bands to provide several features and functions to the customers. Manufacturers are developing small electronic components to improve the design and shape of their products. These small components occupy lesser space, allowing the manufacturers to integrate additional technological components into their offerings. Design tools are utilized by the manufacturers in developing such miniaturized components, generating a high demand for these tools in the EDA market.

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manufacture connected vehicles with internet connectivity. The Asia Pacific EDA market is witnessing a high growth due to the high availability of consumer electronics manufacturers in the region and rapid technological advancements, providing a growth impetus.

Several smartphone players in the region, such as Samsung and Nokia, are integrating new technologies into their offerings. The integration of several electronic miniaturized components into the devices requires these tools for developing these electronic components.

Semiconductor Intellectual Property (SIP) is expected to witness a high demand in the EDA market. The growth in the consumer electronics sector is generating a high requirement for developing electronic components, which can be integrated into the devices to perform specific functions. Several factors such as technological advancements in multicore technology, and growing demand for SoC are driving the need for SIP. Several applications of SIP in telecom, automotive, and commercial sectors are growing the demand for these tools in the EDA market.

The automotive sector is witnessing a high demand for these components in the EDA market. Technological advancements and innovations in this sector are giving rise to the development of several ICs, semiconductors, and chips, which will provide additional functions in the vehicles. The growing adoption of IoT technology in connected cars is expected to drive the demand for these tools in the industry. Several automobile manufacturers are adopting this technology to manufacture connected vehicles with internet connectivity.

Key players operating in the EDA market are CadSoft Computer, Cadence Design Systems, Intercept Technology, IncJEDA Technologies, Invionics, Keysight Technologies, Pulsonix, Sigasi, National Instruments, Solido Design Automation, Silvaco International, Mentor Graphics, Synopsys, Inc., Xilinx, Inc., and Zuken, Inc., among others. These players are targeting their offerings in the consumer electronics sector, where a high demand for these tools can be witnessed. They are competing based on the requirements and specifications of the customers in the EDA market.



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Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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