The Europe Electronic Design Automation Software Market would witness market growth of 7% CAGR during the forecast period (2021-2027).
In recent years, the popularity of Artificial Intelligence (AI) and Machine Learning (ML) has increased in various industries including automotive, aerospace & defense, healthcare, and manufacturing. The integration of advanced technologies like AI and ML is aiding in enhancing the existing products, conventional consumer electronics, and other products. The growing implementation of AI resulted in an increased need for more advanced electronic components. Thus, it has created an increased demand for EDA software. Several EDA software developers are focused to integrate AI in the software development process. This enables testers to switch from the conventional approach of manually testing the models to an automated precision-based continuous testing process. This automation system saves time as well as money.
The consumer electronics industry is also increasingly using advanced electronic elements. With the penetration of the internet, the demand for smart devices has increased which would particularly motivate IC manufacturers to implement EDA software. The processor modeling and SoCs have been used for many years, but they have limitations like slower simulation speeds, less/little validation support, issues with synthesis, and limited architecture modeling capabilities. All these limitations can be overcome by newer design methodologies. The most common approach is raising the level of abstraction for labeling processor architecture. The software tools like Model-Driven-Architecture (MDA), rule-based approach, extensible architecture, and Architecture-Description-Languages (ADL) are witnessing massive demand from several industries. With the growing demand for modeling activities, research companies and market vendors are nowadays focused to bring innovative design methodologies.
The European electronic design automation market is an advanced market that is growing at a rapid pace. The market growth in this region is attributed to the increasing developed aerospace & defense market that are adopting automated tools in designing electronic components integrated into aircraft parts. Manufacturers who are designing aerospace and defense components must comply with strict regulations regarding the design of the parts integrated into the aircraft. The increasing adoption of 5G technologies, AI, Internet of Things (IoT), and machine learning is creating new growth avenues for the global market. In addition, the robust wireless infrastructure and increasing support of the government for the development of IoT-based technologies are the main driving factors of the regional market.
The Germany market dominated the Europe Automotive Electronic Design Automation Software Market by Country 2020, thereby, achieving a market value of $184.9 million by 2027. The UK market is exhibiting a CAGR of 7.1% during (2021 - 2027). Additionally, The France market is anticipated to witness a CAGR of 8.7% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Electronic Design Automation Software Market Size will Hit $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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