Electronic Design Automation Market Will Grow at a Healthy CAGR by 2027

Electronic Design Automation Market Will Grow at a Healthy CAGR by 2027

A detailed analysis of the electronic design automation market is entailed in this research report. The driving forces responsible for propelling the growth graph of this vertical in addition to the regional and competitive trends are mentioned in the study. A comprehensive document comprising details about vital parameters such as the industry ecosystem analysis, market segmentation, and the vendor matrix, the market report also contains information on the pivotal industry insights for core players to look out for.

Gone are the days when electronic system producers were manually working day and night to develop an electronic device, with some loops and holes and inaccuracies due to human error. In the era of electrification and automation, these manufacturers have now been massively shifting their interests to design automation, leaving the troubles of cumbersome working methods behind.

EDA or electronic design automation tools have gained massive acclamation in the electrical and electronics industry today, owing to their ability to enable engineers to design and develop complex electronic circuits.

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One of the application segments, which is paving way for a lucrative growth pathway for electronic design automation market is the thriving consumer electronics industry.

While the consumer electronics producers are working rigorously to address the demand put forth by electronics industry in terms of the rising need for compact and miniaturized smart devices, the dependence on EDA has gradually increased. A prominent reason behind this growth wave is the capability of EDA tools to design high-performance chips.

Moreover, various companies have been going nine yards for bringing forth novel upgradation in EDA tools and software; a factor that is proposed to escalate the market numbers to all new levels in the upcoming years. Among such companies is Sigasi.

Belgium-based leading developer of HDL design solutions had in 2020, announced introducing a software development kit for electronic design automation tools for realizing various electronic circuits to be used in consumer electronics, automobiles, and others.

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It would be essential to mention that the advent of compute-intensive technologies such as AI and machine learning, is as well likely to propel the need for EDA tools for chip designing. With the proliferation of these technologies’ upbeat in the global economy, electronic design automation market is looking forward to taking hold of the largest share in the Latin America.

What has been impelling the market standards in Latin America is the growing industrial, automotive, and manufacturing sectors. In 2017, the Government of Argentina announced a strategy to drive its automotive sector and produce an output of a million units by 2023 end.

Meanwhile, the manufacturing space in Brazil is integrating advanced digital techniques like ML and AI, to bolster its global competitiveness. On top of that, the federal government is also supporting the ongoing digital transformation in the country to ensure wholesome economic development in the near future.

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