Global Electronic Design Automation Market to be Worth USD 26.2 Billion by 2028 Driven by IoT Trends

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Research and Markets have added the report titled "Electronic Design Automation Market Global Forecast to 2028" to its offering. The global electronic design automation market was valued at USD 14.5 billion in 2022 and is estimated to reach USD 26.2 billion by 2028, registering a CAGR of 9.8%. The rise of the Internet of Things (IoT) and the growing trend of connected devices are creating a need for advanced electronic design automation tools that enables the design and development of complex, connected products. In addition, miniaturization has become a key factor in many industries, including consumer electronics, medical devices, and automotive electronics.

As products become smaller and more compact, there is a need for electronic design automation solutions that can enable the design of highly integrated, miniaturized components. These trends have resulted in an increasing demand for electronic design automation tools and solutions, leading to the growth of the EDA market.

The IC physical design and verification segment is growing at the highest CAGR in the EDA market due to the increasing complexity of chip designs and the need for enhanced verification and design optimization automation. As the semiconductor industry advances, the size of chips is decreasing, while their complexity is increasing, which requires a more comprehensive design methodology. The segment's growth is driven by the need for efficient chip design and verification processes that maintain the highest accuracy without increasing runtime. As a result, EDA companies are focusing on developing new solutions to address these challenges and provide better chip design and verification capabilities.

Microprocessors and microcontrollers are having the largest market share in the EDA market because they are key components in a wide range of electronic devices, from consumer electronics to industrial equipment. They serve as the "brains" of these devices, controlling and executing the necessary functions. With the increasing demand for smarter and more connected devices, the demand for microprocessors and microcontrollers is also increasing, driving the growth of this segment in the EDA market. Additionally, the complexity and number of functions required in these devices are also increasing, which further fuels the demand for advanced microprocessors and microcontrollers and the need for sophisticated design and verification tools provided by the EDA market.

China is experiencing the highest growth rate in the EDA market due to several factors. Firstly, the country has a strong foothold in the semiconductor industry, with many local companies engaged in the design, development, and manufacturing of semiconductors. Secondly, there has been a growing demand for electronic devices and connected technologies in China, resulting in an increased demand for EDA solutions. Additionally, the Chinese government has been investing heavily in the semiconductor industry and has been implementing policies and initiatives to support the growth of the industry.

Click here to view the report titled "Electronic Design Automation Market Global Forecast to 2028".