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Electronic Design Automation (EDA) Market in North America Region is Expected to Showcase High Growth by 2024

Author : Ronak Bora | Published Date : 2019-04-25 

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.

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.

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Over the recent years, the electronic design automation 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. Out of these business verticals, the enormous growth of the automotive sector has necessitated the semiconductor component and system designers to meet the most rigorous regulatory guidelines to ensure vehicle safety.

 Growth Drivers of electronic design automation (EDA) market: -

  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

An increase in the production of smart devices is a major factor that will have a positive impact on the growth of the electronic design automation (EDA) market over the forecast timespan. In the recent years, the industry has witnessed a rise in the demand for consumer electronics. The growing popularity of smartphones and tablets in the recent years has seen an increase in camera modules, proximity sensors, accelerometers, and touchscreens.

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Sensors are rapidly expanding beyond image and motion sensing to features that can measure human health, food calorie composition, altitude, and humidity indicators owing to the increase in the variety of consumer IoT applications such as wearables. These factors are driving the electronic design automation (EDA) market over the coming years.

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.

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. Companies in the EDA market are looking to spread their business and presence to developing countries and are implementing strategies such as Mergers and Acquisitions (M&A).

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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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