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The global Electronic Design Automation (EDA) tools market size was USD 14 Billion in 2022 and is expected to reach USD 27.99 Billion in 2032, and register a rapid revenue CAGR of 8% during the forecast period. Rising need for electronic devices across several industries, including automotive, healthcare, aerospace, and military sectors, among others, is a key factor driving market revenue growth. EDA technologies have been adopted by manufacturers to speed up the design process and improve the performance of their products as a result of increasing complexity of electronic systems and necessity for their optimization and miniaturization.
In addition, rising need for integrated circuits and high-performance computer systems is another key factor driving revenue growth of the market. There is a greater demand for complex electronic systems that can handle massive volumes of data and interpret information in real-time as a result of development of Fifth Generation (5G) networks, Internet of Things (IoT), and Artificial Intelligence (AI).
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Moreover, need for EDA tools has increased since the necessity for effective power management systems has emerged as a crucial requirement across numerous industries. Use of energy-efficient systems and components has become a critical emphasis area for manufacturers due to strict government restrictions intended to lower carbon emissions and conserve energy. Manufacturers may create and build power-efficient systems and components using EDA tools, which lowers energy costs and usage.
Furthermore, rapid expansion in the EDA industry is also expected to drive market revenue growth during the forecast period. Electronic system designers can create effective, space- and power-saving electronic systems with the use of EDA technologies. This is especially important for sectors, such as healthcare and aircraft, where there is a requirement to lower the weight of electronic components for efficiency and safety due to space constraints.
Top Companies Profiled in the Report:
The global market is further segmented into type and application:
By Tool Type OutlookRegional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
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