The global electronic design market was estimated at US$ 12.5 billion in 2021 and is anticipated to grow by 8% year over year to reach US$ 13.5 billion in 2022. The market is anticipated to grow at a 7.8 percent CAGR from 2022 to 2032, reaching US$ 28.6 billion by the end of that year.
Until 2032, it is anticipated that the global market for electrical design automation would expand in absolute terms by $15.1 billion. From 2015 to 2021, the market is anticipated to have expanded at an annual growth rate of 8.3 percent. While the U.S. market is expected to hold the top spot and bring in US$ 9.3 billion by 2032, China is predicted to bring in US$ 2.1 billion. With a CAGR of 6.9% from 2022 to 2032, the cloud-based category is predicted to lead the market by deployment mode.
To provide their customers with effective solutions, industry participants in electrical design automation are implementing a variety of cutting-edge technical initiatives. Vendors in the market are making numerous efforts to strategically interact with businesses around the world as market rivalry rises. The following are some recent industry updates:
- Zuken Inc. debuted CR-8000 2021 in July 2021. It is a developed version of the CR-8000 that primarily focuses on reuse functionality and early design analysis.
- A strategic partnership between ANSYS, Inc. and Advanced Micro Devices, Inc. was announced in April 2021. By creating modelling run times, the partnership will help engineering teams from all sectors of the economy improve distinctive and inventive product design. The 3rd Gen AMD EPYC 7003 Series processors double the run time of Ansys simulations.
Impact of COVID-19 Pandemic Outbreak on Electronic Design Automation (EDA) Market
The COVID-19 pidemic is still changing how many industries are growing. The slowdown in manufacturing and scarcity of raw material supply are expected to cause the global semiconductor revenue to fall by roughly 4%–5% in Q2 2020. Additionally, a number of semiconductor and electronics businesses are now refocusing their attention from China to India and other developing nations as a result of geopolitical difficulties surrounding the COVID-19 dispute.
In order to meet customer demand and standardise the industry supply chain, a number of semiconductor businesses have petitioned government authorities to recognise the semiconductor sector as a vital industry and permit continuity in operations. The COVID-19 crisis is predicted to have a slight influence on the electrical design automation industry, which is expected to recover to stable growth by Q2 of 2021.
Adoption of EDA Tools in Automotive & Consumer Electronics Propels the Electronic Design Automation Industry in Asia Pacific
During the projected period, APAC is anticipated to be the most profitable region in the worldwide electronic design automation market. The large presence of the semiconductor industry in growing nations like China, Japan, and South Korea is responsible for the regional expansion. The market in China is anticipated to generate US$ 2.1 billion, with a CAGR of 7.1 percent between 2022 and 2032, according to Fact.MR Analysis Japan is predicted to be worth US$ 1.8 billion, growing at a 6.5 percent rate during the anticipated timeframe. Additionally, South Korea is anticipated to generate US$ 1.1 billion during the evaluation period and a 6.1 percent CAGR.
The China government unveiled a number of regulations and policies in August 2020 to advance the semiconductor industry. China’s State Council established several initiatives in August 2020 to further the growth of the software and IC industries. The transfer of intellectual property (IP) and R&D activities to China is encouraged by China’s new regulations for the semiconductor industry, which is boosting the Chinese market.
These insights are based on a report on Electronic Design Automation Market by Fact.MR.