Sep 12, 2023

The global electronic design automation market is set for a remarkable trajectory, showcasing a total value of USD 14,109.5 million in 2022, with a projected growth rate exceeding 10.4% throughout the next decade, culminating in a substantial valuation of USD 31,121.1 million by 2030. This exceptional growth is primarily attributed to the increasing intricacy of electronic systems and the imperative demand for efficient design tools to address these challenges. Multiple industries have played a pivotal role in driving the expansion of the electronic design automation market, each contributing unique design specifications. Notable sectors such as healthcare, telecommunications, consumer electronics, and automotive have generated a robust demand for tailored design solutions to meet their evolving needs. The semiconductor industry has demonstrated notable advancements in contracting procedure nodes, paving the way for the development of smaller, power-efficient integrated circuits (ICs). The pursuit of reducing power consumption and heat dissipation while maintaining signal integrity presents design complexities. Electronic design automation tools equip designers with essential capabilities to tackle these challenges and optimize IC design for compact interaction nodes. The escalating intricacy of electronic design automation necessitates specialized expertise to create and enhance such intricate systems. Professionals equipped with the necessary skills and capabilities to manage complex designs are in high demand across industries. This demand for skilled specialists is anticipated to intensify competition for top talent in the field. In 2022, the consumer electronics application category secured the largest market share, approximately 30%, within the electronic design automation industry, and this trend is expected to persist. The proliferation of sophisticated electronics, driven by the rising demand for innovative smartphones, smartwatches, and smart TVs, contributes significantly to this dominance. With global per-capita income on the rise, the category's growth is poised to continue at a robust pace throughout the projection period. Geographically, the Asia-Pacific (APAC) region takes the lead with a substantial 40% market share, and this dominance is projected to endure. The region's commanding position is attributed to its growing appetite for electronic devices, increasing adoption of transformative technologies like AI, IoT, and 5G, and its robust focus on innovation and research and development. The APAC region serves as a major consumer of electronic design automation solutions, driven by the intricate semiconductor chips that demand sophisticated tools for design and development. The APAC region, particularly countries such as Japan, China, South Korea, and Taiwan, has long stood as significant hubs for electronics manufacturing. With a strong presence of semiconductor foundries, consumer electronics industries, and electronic component creators for larger systems, the demand for electronic design automation solutions is propelled by the region's manufacturing prowess. In essence, the growing complexity of electronic systems and the indispensable need for effective design tools stand as the pivotal drivers propelling the electronic design automation market's expansion. Key Attributes: