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Electronic Design Automation (EDA) Market Growth Will be Driven by Increasing Adoption of Internet of Things (IoT) and Connected Devices Globally

Author : Ronak Bora | Published Date : 2019-04-12 

Over the recent years, the electronic design automation (EDA) market share has witnessed a drastic upswing owing to a vast expanse of applications. Numerous engineering firms operating across a variety of industrial domains including automotive, telecommunications, aerospace & defense, and consumer electronics have been extensively utilizing the advanced softwares manufactured by electronic design automation (EDA) market players.

Bearing this in mind, one of the foremost electronic design automation market participant Synopsys, Inc., has recently released a thorough and independent functional safety assessment and certification, ISO 26262. The latest certification would enable all the tools of Synopsys Design Platform to be deployed more efficiently in the development of automotive designs meeting the safety requirements of Automotive Safety Integrity Level (ASIL) A to D. Furthermore, the new assessment and certification spans the broadest and the most comprehensive portfolio of almost 40 ISO 26262 certified design tools across the overall electronic design automation (EDA) market.

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Growth drivers: -

  1. Growth of Internet of Things (IoT) and connected devices
  2. Advancements in SoC technology driving the Semiconductor IP market
  3. High demand for semiconductor memory devices
  4. Rising demand for miniaturized electronic products across several applications
  5. Increasing usage of FPGAs (Field Programmable Gate Arrays) in data centers
  6. Adoption of FinFET architecture in the U.S. and Europe
  7. Growing demand for EDA tools in the automotive sector in North America and Europe
  8. Growing demand for wearable technology across Europe and Asia Pacific
  9. Rise in number of fabless manufacturing companies in Asia Pacific
  10. Growing smartphone demand in India and South-East Asia
  11. Increasing adoption and demand from the education sector across Latin America & Europe
  12. Development of smart cities in the Middle East

The North America electronic design automation (EDA) market will witness a high growth over the forecast timeframe owing to large-scale technological advancements. The region is a leading adopter and developer of new technologies such as 5G technology for smartphone users. In addition, presence of a developed broadband & wireless infrastructure and government support for the development of IoT-based technologies are driving smart consumer electronics industry thereby providing an impetus to the electronic design automation (EDA) market growth.

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Fast broadband services and the development of these infrastructures in remote and underserved locations are aiding the development of the IoT and smart electronics market in the region. Moreover, the Federal Communications Commission (FCC) is further aiding in promoting 5G technologies. In April 2017, FCC raised USD 19.80 billion to set up and promote these services across the country.

The Semiconductor Intellectual Property (SIP) market accounted for over 30% of the electronic design automation (EDA) market share in 2016 and is anticipated to grow at a high CAGR from 2017 to 2024. Growing applications of the SIP are witnessed majorly in the consumer electronics industry owing to the rise in the adoption of mobile devices such as tablets and smartphones. The development of smart devices involves an extensive R&D that has increased the complexity of chip design, leading to a high adoption of a new IP block or cores as mobile manufacturers are majorly focusing on providing enhanced performance to end users with limited chip sizes.

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Companies in the electronic design automation (EDA) market include Solido Design Automation, Mentor Graphics, Silvaco International, National Instruments, Sigasi, Pulsonix, Keysight Technologies, JEDA Technologies, Invionics, Intercept Technology, Inc., CadSoft Computer, Cadence Design Systems, Zuken, Inc. Xilinx, Inc., and Synopsys, Inc., among others.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org 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. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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