Electronic Design Automation Market to reach the value of USD 19.60 billion by 2029, at a CAGR of 6.75%,business growth

EDA tools are used to develop and design electronic systems such as integrated circuits (ICs) and Printed Circuit Boards (PCBs). The industry commercialises electronic system fabrication's tools, flows, and methodologies.

View Detailed Report: https://www.databridgemarketresearch.com/reports/global-electronic-design-automation-market

With the increased adoption of sensors, revenue from sensing devices for the IoT industry will grow rapidly due to two key trends: decreasing average selling prices (ASPs) and advances in sensor technologies. Furthermore, using these tools is helping to reduce errors, design time, and cost, driving demand for solutions from the aerospace and defence, consumer electronics, and automotive sectors.

Data Bridge Market Research analyses that the electronic design automation market was valued at USD 11.62 billion in 2021 and is expected to reach the value of USD 19.60 billion by 2029, at a CAGR of 6.75% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Global Electronic Design Automation Market Dynamics

Opportunity

The development of smart cities, combined with rising smartphone demand, will provide numerous opportunities for the growth of the electronic design automation market during the forecast period.

Drivers

Cost effectiveness and efficiency associated with EDA is augmenting market growth

EDA assist chip manufacturing companies in designing and manufacturing more complex chips at a lower cost and in a shorter period of time. All of these factors positively impact the electronic design automation (EDA) market. Furthermore, the increasing complexity of integrated circuit designs and the demand for high accuracy and precision in semiconductor devices. industries are rapidly adopting IC design and verification tools to automatically perform circuit placement and routing on an integrated circuit (IC) or application-specific integrated circuit (ASIC), thereby driving global business.

Application

Aerospace & Defence

Automotive

Consumer Electronics

Industrial

Medical

Telecommunications

Some of the major players operating in the electronic design automation market are:

Werner Enterprises (U.S.)

Oracle (U.S.)

SAP (Germany)

BluJay Solutions (U.K.)

Cadence Design Systems, Inc. (U.S.)

Synopsys, Inc. (U.S.)

Siemens (Germany)

ANSYS, Inc. (U.S.)

Keysight Technologies, Inc. (U.S.)

Xilinx, Inc. (U.S.)

eInfochips (U.S.)

North America will dominate the electronic design automation market due to rising usages in various industries such as automotive, consumer electronics, and others, as well as development in the semiconductor industry.

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