New York, US, Jan. 19, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Cloud Electronic Design Automation Market: By Type, Application Forecast till 2030”, the market is predicted to thrive substantially during the assessment era from 2022 to 2030 at a healthy CAGR of approximately 5.7% to attain a valuation of around USD 8.2 Billion by the end of 2030.
Cloud EDA Market Competitive Analysis
Eminent industry players profiled in the global cloud electronic design automation market report include:
- Cadence Design Systems
- Mentor Graphics
- Synopsys
- Agilent
- Agnisys
- Aldec
- Ansys
- JEDA Technologies
- MunEDA
- Sigrity
- Zuken.
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Drivers
Shift to Cloud EDA Tools to Boost Market Growth
The manual methods used to design circuit boards and semiconductors have been replaced by cloud-based electronic design automation tools, which also help to improve the building of electronic components by using a universal design approach. This shift will boost the market growth.
Opportunities
Plentiful Benefits for Companies to offer Robust Opportunities
Cloud EDA provides businesses with many benefits, including faster product development, high accuracy, and efficient resource use. Large sums of money that were previously lost due to manual production phases can also be saved by the company. Pay-per-usage design environments are a service that Cloud EDA provides to its subscribers, helping to offset any unforeseen costs. These benefits will offer robust opportunities for the market over the forecast period.
Restraints and Challenges
Availability of Pirated Versions to act as Market Challenge
The availability of pirated versions online and open-source software, absence of adequate research and development, & development of varying rules of export and import in various countries may act as market challenges over the forecast period.
Market Segmentation
The cloud electronic design automation market is bifurcated into type and application.
By type, SIP will lead the market over the forecast period.
By application, military/defense will domineer the market over the forecast period.
Cloud Electronic Design Automation Market Report Scope:
| Report Metrics | Details |
| Cloud EDA Market Size by 2030 | USD 8.2 Billion (2030) |
| Cloud EDA Market CAGR during 2022-2030 | 5.7% |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Opportunities | The cloud Electronic Design Automation market is specially focused on countries such as United States, Japan, China, India and others. |
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COVID-19 Analysis
The COVID-19 outbreak and associated lockdown and social segregation norms are having an impact on semiconductor manufacture. To protect their staff, the businesses have temporarily shut down, and serious action has been taken to secure the supply chain. The pandemic has an effect on every business, not just semiconductor, but the electronic design automation sector only loses a little amount of money.
Due to the continued rise of PCBs and chips in system design businesses and the rising demand for system level design simulation, the work from home policy has been successful for chip designers and employees of electronic design automation. Employees can work remotely more easily because electrical design automation software is supplied with cloud services. As a result, it is predicted that demand for cloud-based electronic design automation software would increase.
Regional Outlook
North America to Lead Cloud Electronic Design Automation Market
Due to the presence of multinational corporations in the area and technological breakthroughs in sophisticated electronic equipment, North America currently dominates the market and rapid technological advancement in the cloud computing sector is assisting the market expansion in the North American region. Additionally, the manufacturing sectors' rapid development and use of automation in the United States and Canada is assisting market expansion. The regional demand has been significantly influenced by early technology adoption, including machine learning, 5G, and artificial intelligence, among other things. Furthermore, the area benefits from strong government support and a wireless infrastructure, both of which are likely to promote growth throughout the forecast period.
APAC to Have Admirable Growth in Cloud Electronic Design Automation Market
The second-largest market for cloud EDA is in Asia-Pacific. Some of the key reasons boosting the market in Asia Pacific are the dense populations of semiconductor manufacturing businesses in China, Japan, & South Korea. Additionally, the region's high demand for consumer electronics is pressuring firms to use the most up-to-date production technology. Japan, China, and other emerging economies are expected to have prominent positions in the market. The use of contemporary technologies in numerous fields can be credited with the expansion of the regional market.
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For instance, as part of the "Make in India" effort, UST, a provider of digital transformation solutions, and Karnataka Information Technology Venture (KITVEN) Fund jointly invested in Calligo Technologies, a provider of data science and machine learning products and services. Such innovations are anticipated to boost the local market as well as the worldwide market growth graph. The market in Asia Pacific is will expand at the greatest CAGR in the forecast period for the growing demand for consumer electronics. The market for cloud electrical design automation is expanding due to the rising need for new electronic devices and technological advancements.
In 2020, the Asia Pacific market accounted for around 40% of global sales, driven by strong demand for wireless smart electronics and a mature semiconductor sector. Manufacturers of smartphones are concentrating on packing as much functionality as possible into small packages. Miniaturization of technology has also grown in popularity. The consumer electronics market in the area would be strengthened by the presence of companies like Panasonic Corporation, Samsung Electronics Co. Ltd., LG Electronics, and Sony Corporation. To meet market demand, these manufacturers are combining cutting-edge simulation & design technologies to integrate high-performance ICs in smart devices.
The dynamics and expansion of the market are greatly influenced by these important firms. These significant main players choose a variety of techniques and laws to increase their consumer base. These policies and strategies mostly include of partnerships, joint ventures, extensions, mergers, acquisitions, new production techniques, inventions, and technology-enhanced versions of current items. All of these crucial techniques are chosen in order to understand customer wants and create a solid foundation for future growth.
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Industry Updates
October 2022- An EDA in the cloud solution that enables businesses to use nearly infinite compute resources when and as needed to optimize their design and verification procedures was introduced at DAC 2022 by AMD, Google Cloud, and Calibre Design Solutions.
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