Automation in every segment of the electronics industry is taking leapfrog. New processes of Electronic Design are been used to match global IoT demand. The use of EDA in electronic design is said to offer immense growth opportunities. Two markets are growing in parallel as few markets are recommended as fast-growing whereas others are slow-growing.
Vendors are suggested to tap both the markets with diligence and keep the momentum of the growing need for new technologies with the help of Electronic Design Automation.
Earlier this month, Technavio has released its latest market research report titled Global Electronic Design Automation Market 2019-2023. In which the report specifically underlines that the electronic design automation market and it is poised to grow by USD 3.66 billion during 2019-2023, progressing at a CAGR of almost 7% during the forecast period.
Several players are dominating the Electronic Design Automation market stated the report and the competitiveness with excellence shall be the mantra of growth in the coming years.
Agnisys Inc., ANSYS Inc., Autodesk Inc., Cadence Design Systems Inc., Keysight Technologies Inc., Siemens AG, Sigasi NV, Silvaco Inc., Synopsys Inc., and Xilinx Inc. are some of the major market participants.
Though the impact of COVID-19 in the Electronic Design Automation market is significant and the Technavio in its report suggests the market as to be concentrated, and the degree of concentration will accelerate during the forecast period.