Electronic Design Automation Market outlook to 2024, rising adoption of consumer electronic products to stimulate the industry growth

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 industry 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.
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 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. 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 market over the coming years.
Application is classified into Aerospace & Defense, Automotive, Consumer Electronics, Industrial, Medical, Telecommunications. The telecommunication industry has been heavily influencing the growth of electronic design automation market, driven by the increased use of testing tools and the consistent delivery of seamless communication services. The launch of long-term evolution technology especially in countries such as China and India have also added an unprecedented stimulus to mobile devices market. In consequence, this has effectively augmented the revenue graph of electronic design automation industry, especially across the Asia Pacific region.
To access a sample copy or view the electronic design automation market report in detail along with the table of contents, please click the link below: www.gminsights.com/request-sample/detail/2426 
Product is classified into Computer Aided Engineering, IC Physical Design & Verification, Printed Circuit Board & Multi-Chip Module, Semiconductor Intellectual Property. The exponential rise in the adoption of consumer electronics such as smartphones, laptops and wearable devices has led to the adoption of the popular Semiconductor Intellectual Property (SiP) technology in the electronic design automation market. Driven by the widespread development of IoT and 4G networks, SiP electronic design automation (EDA) industry is likely to depict a profitable growth trend in the years ahead. The increasing complexity and improvement in the functionality of consumer electronics devices has also resulted in the rising intricacy in chip designs, further fueling electronic design automation (EDA) industry.
Asia Pacific electronic design automation market is expected to witness commendable growth over the forthcoming years. This progress can be chiefly attributed to the prevalence of a considerable number of lifestyle electronics manufacturers and smartphone consumers. The increased penetration of broadband and the rise of IoT are also certain to contribute their bit toward driving the regional electronic design automation market share over 2017-2024. Furthermore, the region encompasses an abundance of raw materials and possesses the advantage of low-cost labor. Tech-savvy consumers with increasing disposable incomes would be primarily driving the semiconductor industry in Asia Pacific. In consequence, this trend is likely to impact APAC electronic design automation market.
Also, 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.
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. Several vendors are acquiring smaller software or technology-based companies to enhance their core business. Vendors are facing intense rivalry and to face that, they are required to invest immensely in R&D activities to withstand the electronic design automation market market growth.