Research Nester’s recent market research analysis on “Cloud Electronic Design Automation (EDA) Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global cloud electronic design automation (EDA) market in terms of market segmentation by type, vertical, and by region.
Increasing Penetration of Smartphones and Smart Wearables to Promote Global Market Share of Cloud Electronic Design Automation (EDA)
As the Internet of Things (IoT) expands, there are numerous opportunities in the industry. Prominent entities can work closely with emerging IoT development companies. Consequently, these collaborations will aid in the growth of the Cloud Electronic Design Automation (EDA) Market. There will be roughly 15.14 billion IoT devices by 2023. Furthermore, practically every industry is being impacted by artificial intelligence (AI) and machine learning (ML), including electronics, healthcare, automotive, aerospace, and military. By incorporating AI and ML into their goods, companies are expanding the range of products they offer in the above-mentioned categories. These applications of the provided technologies, which require the use of complex electronic components and processors, can be advantageous to EDA suppliers. Artificial intelligence can help software engineers’ transition from manual to automated process testing. These factors will facilitate the growth of the Electronic Design Automation software market throughout the anticipated period.
Some of the major growth factors and challenges that are associated with the growth of the global cloud electronic design automation (EDA) market are:
Growth Drivers:
- Surge in Government Initiatives for Boosting Electronic Industry
- Rising Demand for EDA in Automotive Industry
Challenges:
Online, a plethora of feature-rich electrical design automation packages are available for free. In addition, software providers are compelled to offer a discount on their products due to the extensive usage of pirated software in countries such as China, Russia, and the USA. This is a key component that is expected to restrict market growth. Disruption of manufacturing industries and inadequate research and development are some of the major factors anticipated to hamper the global market size of cloud electronic design automation (EDA).
Access our detailed report at: https://www.researchnester.com/reports/cloud-electronic-design-automation-market/5532
By type, the global cloud electronic design automation (EDA) market is segmented into computer aided engineering, semiconductor intellectual property, IC physical design & verification, and printed circuit board & multi-chip module. The computer aided engineering segment is to garner the highest revenue by the end of 2036 by expanding during the projection period at a notable CAGR. The segment is growing due to several factors, including the growing need for integrated software solutions to eliminate the need for multiple prototype products and concerns about product recalls, the dramatic shift from on-premise to cloud-based computing, and the growing outsourcing of manufacturing processes to emerging economies. Cloud computing negates the need for equipment purchases, software licensing, installation, and support fees. It is expected that this will significantly enhance the use of CAE software in the years to come. Moreover, businesses are using the Hyper-Converged Infrastructure (HCI) platform to set up private clouds with better processing and storage capabilities. These components would help the category grow even further over the projection period. 200 ZB of data will be stored on the cloud by 2025. 60% of all corporate data globally is stored in the cloud.
By region, the Europe cloud electronic design automation (EDA) market is to generate the highest revenue by the end of 2036. The European market for Electronic Design Automation (EDA) is expanding due to the need for creating intricate electronic systems in cars. Sophisticated EDA tools are more necessary as automotive companies in the region concentrate on creating cutting-edge technologies like autonomous driving, connectivity, and electric powertrains.
This report also provides the existing competitive scenario of some of the key players of the global cloud electronic design automation (EDA) market which includes company profiling of Keysight Technologies Inc, ANSYS Inc., Synopsys Inc., Xilinx Inc., Siemens AG, Autodesk Inc, Dolphin Design, Agnisys Inc, Altium Limited, and others
