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Worldwide electronic design automation market is expected to grow $10.31 billion in 2018 and is expected to grow at a CAGR of 12% during the forecast period 2019-2027, to account for $28.27 billion by 2027.
Electronic design automation software comprises of multiple tools and applications. Integrating these tools according to the customers' demand sometimes becomes a complicated job. The complex requirements of the end-users regarding highly stable and accurate product positioning is addressed with the help of EDA. Rising complexities and cost challenges faced by the industries for implementation of expensive complex designs is key influencer driving the electronic design automation market.
Key trend which will predominantly effect the electronic design automation market in coming years is demand for machine learning in EDA software to gain significant momentum in the electronic design automation market. The EDA software over the years have evolved in response to progressively aspiring goals for high performance, low power and decreased design cycle time. This evolution in the EDA software is also expected to meet the unfulfilled need for methods, models and tools that would allow faster and more accurate design and verification of microelectronic systems and circuits.
A behavioral approach, lately, has been discovered to be able to achieve these goals. Therefore, the machine learning to the EDA tools business is having a substantial impact. The technology is anticipated to cut the cost of designs by enabling the tools to provide solutions to usual issues, which might take longer for the design teams to resolve manually. This not only reduces the cost but also paves the path for novel designs and more semiconductor chips from more businesses.
Electronic design automation market by application is segmented into aerospace & defense, consumer electronics, telecom, automotive, industrial, others. Critical success factors such as accuracy, efficiency and productivity are propelling the need for advanced automation tools in designing, engineering and manufacturing.
Additionally, the appropriate software enable companies address cost-related and time-to-market challenges thoroughly, via process optimization. Thus, various industries including, consumer electronics, telecom, aerospace & defense, and industrial among others are implementing electronic design automation depending on the requirements.
The continuous advancements in the consumer electronics and automotive industries would further raise the demand for electronic design automation market over the forecast period.