Electronics manufacturers are increasingly implementing EDA software in order to achieve accuracy in designing the ICs and circuits, the report says
The global electronic design automation software (EDA) market is estimated to reach US$ 14.54 billion by 2025, as per a latest report by market research and consulting firm Grand View Research, Inc.
The market is expected to grow at a compound annual growth rate (CAGR) of 8.9 per cent during the said period, the report says.
Citing the reason for such growth, the report states that rising preferences for compact devices is pushing the electronics manufacturers to choose for small-sized circuits and miniaturised chips/integrated circuits (ICs) due to complexity in designing. Therefore, electronics manufacturers are increasingly implementing EDA software in order to achieve accuracy in designing the ICs and circuits, which is driving the market.
Memory management unit contributed for over 20 per cent of the EDA software market share in 2018 and is likely to expand at a healthy rate over the next five years. This is due to the increased use of powerful processors driving the need for efficient cache memory management.
Region-wise, North America is likely to witness a CAGR of more than 7 per cent over the given period due to the continuous technological advancements and rapid adoption of advanced technologies.
Demand for compact processors
As consumer electronics, medical devices and other smart devices becoming compact, there is a pressure on electronics manufacturers to design compact processors and chips for these devices, the report mentions.
The increasing adoption of software to design compact processors and chips is likely to have a positive impact in driving the demand for EDA software. The increasing preference for system on chip (SoC) technology also impact the market growth for EDA software.
As per the report, the major players in EDA software market were Synopsis, Cadence Design Systems and Mentorled. The major companies are likely to continue their focus on mergers and acquisitions to enhance their product portfolio.
