Growing need for compact electronic devices and the expanding use of SoC technology across various industries, including automotive, IoT, and AI are a major factor attributable to the growth of the market.

According to TechSci Research report, “Global EDA Tools Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”. The Global  EDA Tools is anticipated to project robust growth in the forecast period with a CAGR of  8.24% through 2028, The main factors propelling the market's expansion are the growing need for compact electronic devices and the expanding use of SoC technology across various industries, including automotive, IoT, and AI. The silicon sector has evolved in recent years because of electronic design automation (EDA) techniques. EDA is responsible for creating the design tools necessary for the IC design process at a cost that enables the ecosystem to run profitably. Some of the benefits of using EDA tools include reducing the amount of time needed to develop complicated ICs, cutting manufacturing costs, eliminating manufacturing defects, improving IC design and ease of use, etc.

According to World Semiconductor Trade Statistics (WSTS), the semiconductor industry is expected to grow by 10.9% in 2021, which is a significant growth compared to the previous year's growth, approximately amounting to USD 488 billion. Owing to this, various semiconductor vendors are expected to increase their R&D budgets. For instance, in April 2021, Taiwan Semiconductor Manufacturing Corporation ( TSMC) announced to spend USD 100 billion over the next three years to expand its chip fabrication capacity and R&D.

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Based on Type, IC Physical Design and Verification segment is expected to dominate the market during the forecast period. IC physical design refers to the creation of geometric representations of ICs, using EDA tools. EDA is used to divide the chip into smaller blocks and then plan the specific space required for each block to ensure maximum performance. These blocks are then placed, using before and after clock synthesis.

The recent technological advancements have been helping several chipset manufacturers to make use of ASIC technology, mainly for 5G. The advent of structured ASIC, having elements of both ASICs and field-programmable gate arrays (FPGA), like architecture, has led to the cost of production becoming cheaper compared to full-blown ASIC, which requires the addition of a modifiable on top of the base ASIC layer. Mixed-signal chips, or integrated circuits (ICs) featuring analog and digital circuitry, are a growing trend. Mixed-signal architectures are becoming progressively and more necessary for SoC and ASIC designers. This demand is influenced by industries including the internet of things, communications, the automobile industry, and industrial control. For instance, in July 2022, the mixed-signal verification software Symphony Pro had a significantly updated version from Siemens EDA (previously Mentor).

Based on Region, North America is Expected to dominate the market. EDA tools often design circuit boards, processors, and other complex electronics. The adoption of EDA tools in industries such as consumer electronics, and automotive, is set to increase demand for the market in North America. Also, growing developments in the semiconductor industry and circuit manufacturing industry have raised the market's prominence in the region. Also, some of the significant vendors of EDA tools are headquartered in North America, such as Xilinx Inc., Ansys Inc., Keysight Technologies Inc., Cadence Design Systems Inc., and Synopsys Inc.

Some North American suppliers have been investing in improving the company's product lines and broadening the firm reach to meet the demand for EDA tools in the region. For instance, in May 2022, Chipmaker Advanced Micro Devices Inc. announced that the company intends to move some of its electronic design automation workloads for chip design onto Google Cloud to expand the capabilities of the company's data centers. This will allow taking advantage of Google's most recent compute-optimized C2D virtual machine instances, which are powered by 3rd Gen AMD EPYC processors, as well as advanced networking, storage, and artificial intelligence capabilities. The United States is a significant country in the semiconductor industry's manufacturing, design, and research. The region's prominence drives the demand for exporting electronics equipment and growing end-user industries that are significant consumers of semiconductors, such as consumer electronics and the automotive industry. For instance, the US semiconductor company, the Semiconductor Industry Association (SIA), in February 2022, reported that revenues for the worldwide semiconductor industry reached USD 555.9 billion in 2021, the highest yearly total ever and a rise of 26.2% over the USD 440.4 billion total for 2020. In 2021, the semiconductor industry shipped a record 1.15 trillion units as chip companies increased output to meet the strong demand brought on by the worldwide chip shortage.

Key market players in the Global EDA Tools Market are following:-

• Altium Limited
• Ansys Inc.
• Cadence Design Systems Inc.
• Keysight Technologies Inc.
• Agnisys Inc.
• Aldec Inc.
• Lauterbach GmbH
• Mentor Graphic Corporation (Siemens PLM Software)
• Synopsys Inc.
• Xilinx Inc.

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“The global Electronic Design Automation (EDA) Tools market is driven by several key factors that influence its growth and evolution. Firstly, the increasing demand for semiconductor devices across various industries, including consumer electronics, automotive, healthcare, and IoT, is a significant driver. EDA tools are essential for designing and optimizing semiconductor components to meet the growing demand for smaller, more efficient, and powerful electronic systems. Secondly, the rapid advancements in semiconductor manufacturing processes, such as shrinking process nodes and the integration of new materials, drive the need for EDA tools that can adapt to these evolving technologies. Furthermore, the growth of emerging technologies like IoT and AI requires specialized hardware solutions, and EDA tools play a crucial role in designing custom chips and systems tailored to these applications. Additionally, the expansion of the global electronics industry, especially in emerging markets like India and China, contributes to the increased adoption of EDA tools. Overall, the EDA Tools market is propelled by the relentless pace of innovation in semiconductor design and manufacturing, coupled with the ever-growing demand for electronic devices and systems.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based  global management consulting firm.

EDA Tools Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented by Type (Computer-aided Engineering (CAE), IC Physical Design and Verification, Printed Circuit Board and Multi-chip Module (PCB and MCM), Semiconductor Intellectual Property (SIP), Services), by Application (Communication, Consumer Electronics, Automotive, Industrial), By Region, Competition 2018-2028 has evaluated the future growth potential of Global  EDA Tools Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Global  EDA Tools Market.

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