Electronic design automation software comprises of multiple tools and applications. The EDA software over the years has evolved in response to progressively aspiring goals for high performance, low power and decreased design cycle time. According to a recent report, the market of Electronic design automation market is well expected to grow US$10.31 Bn in 2018.
At a CAGR of 12.0% during the forecast period 2019 – 2027, to account for US$28.27 Bn by 2027.
EDA software simplifies integrating tools to the customers’ demand which is normally 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 are 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.
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 behavioural 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.
Additionally, the appropriate software enables companies to 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.