The North America electronic design automation market accounted for US$ 4. 10 Bn in 2018 and is expected to grow at a CAGR of 10. 2% over the forecast period 2019–2027, to account for US$ 9. 70 Bn in 2027.
New York, Nov. 11, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Electronic Design Automation Market to 2027 - Regional Analysis and Forecasts by Type and Application" - https://www.reportlinker.com/p05794737/?utm_source=GNW
The significant growth of the semiconductor industry is anticipated to boost the electronic design automation market growth. Moreover, the increased focus on miniaturization of electronic devices is expected to boost the electronic design automation market growth in the forecast period. The SIA (Semiconductor Industry Association) in October 2018, while representing the US 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 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 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. As the semiconductor industry continues to be in strong up-cycle, the leaders in the market are expected to adopt a future-oriented approach. The approach may further consider unconventional end-market such as artificial intelligence, autonomous vehicle, and IoT. Additionally, the memory companies are also likely to witness a rise in sales owing to bolstering demand for data centers smartphones and autonomous vehicle technologies.
The electronic design automation market is fragmented in nature due to the presence of several industries, and the competitive dynamics in the market is anticipated to change during the coming years.In addition to this, various initiatives are undertaken by the governmental bodies to accelerate the electronic design automation market further.
For instance, The US government has taken various initiatives for supporting the manufacturing sector in the country.This includes programs such as Manufacturing USA, Advanced Manufacturing Technology Consortia, MForesight, Hollings Manufacturing Extension Partnership, Investing in Manufacturing Communities Partnership, Materials Genome Initiative, National Export Initiative, Sustainable Manufacturing Clearinghouse, etc.
These initiative provide various benefits to the manufacturing companies located in the region, thus, increasing the growth of the manufacturing sector.
Based on the application segment, the consumer electronics segment of the electronic design automation market led the North America market in 2018 with a maximum market share and is expected to continue its dominance during the forecast period.Consumer electronics is a significant industry for the adoption of electronic design automation technology for a range of devices.
Manufacturing of the exhaustive range of consumer electronics is associated with precision and accuracy.With the rising demand for smartphone, laptops, tablets, smart watches, and other consumer electronic products have also intrigued the manufacturing industry to increase its production capacity.
In the current scenario, various consumer electronic devices are used by consumers across the globe for a variety of tasks.The consumer devices are becoming smarter with the ongoing technological advancements.
The AI-enabled applications have stoked the demand for advanced components. The continual shifts in consumer behavior, cost structures, and business models constantly increase the demand for consumer products, which in turn facilitates the growth of the electronic design automation market.
The overall electronic design automation market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the electronic design automation market.
It also provides an overview and forecast for the electronic design automation market based on all the segmentation provided with respect to the North America region.Also, primary interviews were conducted with industry participants and commentators to validate data and analysis.
The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the electronic design automation market. Some of the players present in electronic design automation market are Agnisys Inc., Aldec Inc., Autodesk, Inc., Cadence Design Systems Inc., Keysight Technologies, Labcenter Electronics Ltd., Mentor Graphics Inc., Silvaco Inc., Synopsys Inc., and Zuken Inc. among others.
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