New York City, NY, 30 September, 2019/ 24 Market Reports: It is estimated for the electronic design automation (EDA) tools market to register a CAGR of 8.9% in the forecast period from 2019 to 2025. In the year 2018, the market was valued at USD 8.05 billion. The elimination of manual errors and the reduction of the time and cost in designing electric circuits are the features of this software and these features are forecasted to drive the growth of the market. The other factors such as the incorporation of machine learning concepts to reduce the designing cost are expected to positively impact the growth of the market.
Increased demand for electronic gadgets is driving the growth for the EDA market
The manufacturers are reducing the size of the ICs with the increase in the demand for compact electronic components such as automotive gadgets, smart wearable devices, and healthcare equipment. To eliminate the error in IC designing and in accelerating the manufacturing process the IC manufacturers are adopting EDA software. Moreover, the growth of the EDA market is likely to hamper with the growing preference for open source EA tools, particularly among small-size enterprises.
The microprocessor and controller segment to hold the highest market share in the forecast period
Memory management units, microprocessors and controllers, and others are the end-use segments of the EDA market. In the year 2018, the microprocessor and controller segment held 60% of the market share and the trend is expected to continue in the forecast period owing to its extensive use in laptops, printers, television sets, and other consumer electronics.
North America to continue to hold the largest share in the market during the forecast period
North America is expected to register a healthy CAGR during the forecast period. In the year 2018, the region had registered a market share of over 40%. The continuous deployment of automated, connected, and smart vehicles and the continued rollout of the infrastructure required to establish connectivity with these vehicles is expected to impact the market.
A growing number of smartphone users to drive the growth for the EDA market in the APAC region
In the year 2018, the Asia-Pacific region generated a total revenue share of 30%. The growing population and the subsequent growth in demand for consumer electronics and smart devices, particularly in emerging economies, such as India and China are driving the growth for the market in the region. The proliferation of smartphones and the increasing number of fabless companies in the region are expected to impose a positive growth on the market. During the forecast period, India and China are expected to register a CAGR of over 10.0%.
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