Electronic Design Automation Market Key Technologies and Innovations to 2027
Electronic Design Automation Market size is estimated to grow at a significant rate during the forecast period due to the growth of internet of things (IoT) and connected devices.
Delaware , United States – August 9, 2021 /MarketersMedia/ —
The demand for electronic design automation market will grow substantially with consistent developments across the consumer electronics sector and assistance to engineers in designing complex electronic circuits. Leading manufacturers are consistently focusing on developing compact as well as miniaturized smart devices. This has added positive impetus to the deployment of EDA tools to facilitate the designing of high-performance chips. There is also a rising need for automation across several industrial verticals in order to ensure the accuracy of product design & validation.
The influx of compute-intensive technologies, like IoT, machine learning, and cloud computing, for chip designing, has paved the way for higher R&D activities pertaining to EDA tool development. Recent progressions in the automotive sector have also led to the higher incorporation of advanced electronic solutions like infotainment systems, sensors, and ADAS applications. Furthermore, there are increasing advancements in vehicle electrification and autonomous vehicles across the developed economies.
It has been estimated that the global electronic design automation market size will surpass USD 20 billion in yearly valuation by 2027.
Increasing deployment of CAE solutions
The EDA market revenue from computer-aided engineering (CAE) simulation software is anticipated to reach a significant value in the coming years owing to their increasing support to facilitate engineering analysis operations. These tools not only allow users to simulate, optimize, as well as validate the manufacturing tools and products, but also aid in analyzing the robustness and performance of the assemblies and components.
CAE tools are witnessing higher demand as they offer time and money saving benefits while evaluating and refining the designs with the help of computer simulations in comparison to physical prototype testing. They are also adopted for assessing prototypes in the design process by themselves whilst allowing engineers to make the needed changes before the final design assembly.
There is also a rise in innovations and strategies led by leading electronic design automation market participants. For instance, in March 2020, BETA CAE Systems, established a subsidiary company in China for its capacity expansion as well as to enhance the customer services for CAE engineers.
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Robust demand across the telecom sector
The deployment of electronic design automation software and tools across the telecom sector will see inclination through 2027. This can be attributed to the constant surge in the number of wirelessly connected devices across both developing and developed countries. The emergence of the 5G technology has paved the way for optimum use of high-performance chips to facilitate seamless interconnection of devices.
In addition, EDA tools are increasingly preferred for 5G design, simulation, and verification as they are efficient in testing the performance through 5G modulation standards. There is also increasing support from government organizations towards the implementation of 5G technology to reinforce the telecom infrastructure.
Latin America to emerge as a promising market
Latin America is expected to hold a significant electronic design automation market share in the coming years due to the developing industrial sector and the implementation of favorable government initiatives that support industrial advancement. For instance, the government in Argentina, in March 2017, revealed its strategy to fuel the country’s automotive sector to produce an output of over a million units by 2023.
Furthermore, the manufacturing industry in Brazil is consistently making use of advanced digital techniques, including AI and machine learning, to reinforce its global competitiveness. The government of Brazil is also lending its support to digital transformation across the country to ensure economic development.
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