The Asia Pacific Electronic Design Automation Software Market would witness market growth of 9.6% CAGR during the forecast period (2021-2027).
EDA tools help semiconductor manufacturing companies to reduce the development time of chips. It also increases the precision of the design. The EDA market players are offering attractive services along with their software packages, which include maintenance services, fault tracking, training, and troubleshooting. Thereby, EDA tools provide a many benefits to players who are seeking licensed software as compared to free or open-source software tools.
The increasing cloud computing sector will further boost the demand for EDA software in many industry verticals. Cloud EDA software is progressively gaining popularity over conventional, on premise EDA tools. The increasing complexity of SoC designs has resulted in a requirement to add innovative features to the designs. Cloud solution helps in solving these issues as it offers a scalable solution. The major advantage of cloud-based solutions is their accessibility from any location across the organization. That is why cloud-based solutions are increasingly being used by semiconductor industries for the purpose of designing complex electronic systems. A cloud-based solution facilitates easy and fast updates depending on the changing requirements. The key market players of electronic design automation software are focused on having partnerships with cloud technology providers that will offer cloud-based EDA software.
The market growth of electronic design automation software is largely relying on the semiconductor and electronics industries. Thus, the introduction of the new designs by systems companies, semiconductor manufacturers, and their customers are anticipated to boost the EDA market during the forecast period. The COVID-19 pandemic has augmented the necessity for automation in various industries. Thus, they are continually working with EDA software with a minimum workforce. Therefore, the demand for automation is increasing and it is anticipated to boost the demand for semiconductors and electronics and thus, creating new growth avenues for the market during the forecast period.
In the Asia-Pacific region, there is increasing use of smartphone penetration and the popularity of smart wearable devices is also high. Thus, electronic manufacturing companies in countries such as China, India, and Japan are adopting electronic design automation software to increase the production of such devices. Government organizations in developing countries are supporting the adoption of automation technologies across the industrial sector. This is likely to enhance productivity in the various electronic manufacturing sectors that, in turn, contribute to economic development.
The Microprocessors & Controllers market dominated the Malaysia Electronic Design Automation Software Market by End User 2020, thereby, achieving a market value of $215.4 million by 2027, growing at a CAGR of 12.7 % during the forecast period. The Memory Management Unit (MMU) market is experiencing a CAGR of 13.3% during (2021 - 2027).
Based on Application, the market is segmented into Consumer Electronics, Aerospace & Defense, Communication, Automotive, Industrial, Medical and Others. Based on End User, the market is segmented into Microprocessors & Controllers, Memory Management Unit (MMU) and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Electronic Design Automation Software Market is Projected to reach USD 16 Billion by 2027, at a CAGR of 7.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Altair Engineering, Inc., ANSYS, Inc., Autodesk, Inc., Cadence Design Systems, Inc., Keysight Technologies, Inc., Siemens AG, Synopsys, Inc., Silvaco, Inc., Altium Ltd., and Aldec, Inc.
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