The Latin America, Middle East and Africa Electronic Design Automation Software Market would witness market growth of 11.8% CAGR during the forecast period (2021-2027).
New-age consumer electronic devices are small in size but are highly efficient. Designing chips for making compact devices need to have advanced electronic design and automation solutions that are capable of reducing designing flaws. These factors are expected to boost the demand for EDA software and its market would showcase gradual surge over the forecast period. The key players often offer their authentic and authorized products at higher prices, as EDA tools are subject to copyright, trademarks, and patent. Various medium- and small-scale enterprises are encouraged to adopt open-source EDA software. The increasing use of such open-source software is likely to pose a challenge to market growth. On the other hand, these open-source EDA tools are at risk of cyber-attacks and are likely to lose credibility among enterprises in the long term.
The industrial sector in this region is also encouraged to adopt technologies like IoT and AI. For example, the governmental organizations in Saudi Arabia target to progress in applications like 3D printing, AI, IoT, virtual reality, and blockchain technology.
African countries have established renewed dedication to improving industrialization as an agenda to diversify their economies. They are boosting their manufacturing sector and develop productive capacity for high and sustained economic growth. This, in turn, will create employment opportunities and significantly reduce poverty levels. The developing manufacturing industry across the globe will offer new growth opportunities to the market. Manufacturers are actively using EDA tools for designing miniaturized electronic components. The weak technological potency of African firms can be accredited to the absence of technologies and infrastructure that support and infrastructure in domestic enterprises. Moreover, most African enterprises do not make substantial investments in industrial and technological efforts. Therefore, it is difficult for them to enter into competitive medium- and high-technology markets.
The Consumer Electronics market dominated the South Africa Electronic Design Automation Software Market by Application 2020, thereby, achieving a market value of $42.2 million by 2027. The Aerospace & Defense market is exhibiting a CAGR of 14.6% during (2021 - 2027). The Communication market is experiencing a CAGR of 11.8% during (2021 - 2027). Additionally, The Automotive market is poised to grow at a CAGR of 13.6% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Electronic Design Automation Software Market is Predict to reach $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
By Country
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