According to a new report Global Electronic Design Automation Software Market, published by KBV research, The Global Electronic Design Automation Software Market size is expected to reach $16 billion by 2027, rising at a market growth of 7.8% CAGR during the forecast period.
The microprocessors & controllers segment procured the largest market revenue share in 2020. The segment would be the fastest growing segment during the forecast period. Microprocessors & controllers are an essential part of home appliances, lighting systems, and medical devices. The advancement in technology in consumer electronics devices and the increasing penetration of smartphones are the major catalysts for the growth of this segment over the forecast period.
The Consumer Electronics market dominated the Global Electronic Design Automation Software Market by Application 2020, growing at a CAGR of 6.2 % during the forecast period. The Aerospace & Defense market is showcasing a CAGR of 9.8% during (2021 - 2027). The Communication market is estimated to grow at a CAGR of 6.8% during (2021 - 2027). Additionally, The Automotive market is experiencing a CAGR of 8.7% during (2021 - 2027).
The North America market dominated the Global Electronic Design Automation Software Market by Region in 2020. The Asia Pacific would be the fastest-growing region in the electronic design automation software market in 2020. The number of electronics manufacturing companies has also increased in the region which is boosting the product adoption in EDA software. In addition, the high population of this region translates to massive demand for consumer electronics and devices that are equipped with ICs. Therefore, the increasing demand for electronic devices is also expected to be a major driving factor for the growth of the regional market during the forecast period.
Full Report: https://www.kbvresearch.com/electronic-design-automation-software-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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