The North America Electronic Design Automation Software Market would witness market growth of 6.4% CAGR during the forecast period (2021-2027).
Electronic design automation (EDA) software includes various tools and services. These tools help in the specification, implementation, design, verification, and test of electronic systems. The electronic systems can be fabricated as an integrated circuit or mounted on a printed circuit board. Electronic design automation tools are substituting the manual methods for semiconductor design techniques and circuit boards. Electronic design automation is termed as electronic computer-aided design.
There is an increasing inclination for compact devices which is encouraging electronics manufacturers to choose miniaturized chips/ICs and smaller-size circuits that are complicated to design. Therefore, electronics manufacturers are gradually adopting EDA software in order to accomplish precision in designing circuits and ICs. It is driving the demand for electronic design automation software.
EDA software assists designers’ requirements at various levels as it helps in creating designs for electronic systems like printed circuit boards (PCBs), integrated circuits (ICs), and multi-chip modules (MCMs). The EDA software is beneficial for the designer to monitor, analyze, and simulate the designs of the circuit even before its practical installation. The electronic design automation software market is very closely associated with the semiconductor industry. EDA software finds potential applications in electronics, communications, automotive, machinery, aerospace & defense, medical, and other industries.
There is the highest rate of adoption of advanced technologies like AI, cloud, machine learning, and others in North American region. As a consequence, the electronics manufacturers are actively adopting machine learning technologies in designing methods like integrated Electronic Design Automation (EDA) Software. Thus, this aspect would boost the growth of the EDA software market in this region. The manufacturers of electronic products are also using CAE tools due to which it has become possible to reduce both time as well as cost for the product development. These technologies also help in improving the comfort, durability, and safety of the vehicles produced.
The US market dominated the North America Electronic Design Automation Software Memory Management Unit (MMU) Market by Country 2020, thereby, achieving a market value of $943.5 million by 2027. The Canada market is experiencing a CAGR of 9.1% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 8.1% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Electronic Design Automation Software Market is Estimated 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.
By Application
By End User
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