Electronic design automation software comprises of multiple tools and applications. Integrating these tools according to the customers’ demand sometimes becomes a complicated job. The complex requirements of the end-users regarding highly stable and accurate product positioning is addressed with the help of EDA. Rising complexities and cost challenges faced by the industries for implementation of expensive complex designs is key influencer driving the demand of EDA.
The prominent market players in the electronic design automation market are Synopsys, Keysight Technologies, Autodesk, Zuken, and Cadence among others account a considerable share of the market owing to their exceptional product offerings to the market.
The electronic design automation market in the recent years witnessed several partnerships amid EDA services and end-user industries. The trail of partnerships in the EDA software market in past few years has therefore paved the growth opportunity for market. For instance in November 2018, Keysight Technologies, Inc. partnered with ON semiconductor for facilitating EDA services in order to empower its devices. Furthermore, in June 2018 Siemens had announced its partnership with Synopsys, Inc. on a wide range of electronic design automation (EDA) product interoperability projects for the benefit of their mutual customers. The collaboration spans a number of EDA domains from design to verification.
Market leaders are involved in taking up various electronic design automation market initiative such as expanding footprint across the world and meet the growing demand of its customers, focusing towards product enhancements by implementing advanced technologies, and signing partnership, contracts, joint ventures, funding, and inaugurating new offices across the world to maintain brand name globally. For instance, recently, Synopsys, Inc. announced the new DesignWare ARC EM Software development Platform with the aim of accelerating software development and debugging ARC EM processor-based system-on-chips for a wide range of ultra-low power embedded applications such as sensor fusion, IoT, and voice applications. Furthermore, in 2018, Mentor announced the acquisition of COMSA Computer and Software GmbH, with this acquisition the company further extending its lead in automotive electrical systems design. Subsequently, introduction of such initiations are expected to provide this market with lucrative growth opportunities.
Many well-known as well as small local companies are present in the electronic design automation market to provide diversified software solutions to their customers. The larger firms are adopting the strategy of partnership, contractual alliances for the deployment of EDA solutions to enhance their customer portfolio and expand footprint in different geographies.
Few on the important market initiatives from the industry are mentioned below:
Growth of semiconductor industry
The SIA (Semiconductor Industry Association) in October 2018, while representing the U.S leadership in semiconductor research, design and manufacturing had charted an increase of 12.7% from 2017 and marked the total revenue of US$ 41.8 Bn. Furthermore, the WSTS also forecasted a trajectory of 15.9% in 2018 and 2.6% in 2019. This growth in the semiconductor industry has raised the confidence of the electronic design automation market players in terms of revenue growth. The companies operating in the semiconductor landscape are not only anticipating a substantial rise in the revenue but are also respectively increasing their R&D spending. The year on year increase in R&D spending has have imposed a noteworthy thrust to the electronic design automation market during the recent past and is projected to continue to drive the market in the coming years.
Rising Penetration of IoT, Artificial Intelligence and virtual Reality
Smart homes, TVs, smartphones, Internet of Things, connected cars, artificial intelligence are that every aspect of human life that the consumer electronics industry has pervaded. The demand for consumer electronics across the globe has been largely driven by the desire of the consumers for bigger, newer and enhanced capabilities, which in turn has encouraged the sector to constantly explore innovations and technologies that not only encapsulate imagination of the people but are also affordable and relevant in terms of catering to their daily needs. In such cases the EDA software providers the electronic component manufacturers and technologists to design suitable prototype of the devices.