Electronic Design Automation Software Market Size, Share, Growth Analysis, By Application(Semiconductor design, printed circuit board (PCB) design, and electronic system design), By Offerings(Software tools and services), By Region - Industry Forecast 2024-2031

Electronic Design Automation Software Market size was valued at USD 11.10 billion in 2022 and is poised to grow from USD 12.11 billion in 2023 to USD 24.31 billion by 2031, growing at a CAGR of 9.10% during the forecast period (2024-2031).

The Electronic Design Automation (EDA) software market features intense competition among key players, driving innovation and advancements in chip and circuit design. Established companies like Cadence Design Systems, Synopsys, and Mentor Graphics (now part of Siemens) maintain their dominance through comprehensive EDA tool suites, while startups like Altair and Zuken challenge the status quo with niche solutions. Open-source tools like Qflow also gain traction, fostering collaboration and accessibility. The market's competitive landscape is characterized by rapid technological evolution, strategic acquisitions, and a focus on integrating AI and machine learning for enhanced design processes, ensuring a dynamic and fiercely contested industry landscape. 'Cadence Design Systems, Inc. United States', 'Synopsys, Inc. United States', 'Mentor Graphics Corporation (acquired by Siemens) United States', 'Ansys, Inc. United States', 'Autodesk, Inc. United States', 'Altium Limited Australia', 'Zuken Headquarters: Japan', 'National Instruments Corporation United States', 'Siemens AG Germany', 'Xilinx, Inc. United States', 'CST - Computer Simulation Technology (acquired by Dassault Systèmes) Germany', 'Keysight Technologies United States', 'CircuitSutra Technologies Pvt. Ltd. India', 'Magillem Design Services France', 'Silvaco, Inc. United States', 'Agnisys, Inc. United States', 'OneSpin Solutions GmbH Germany', 'Aldec, Inc. United States', 'Avery Design Systems, Inc. United States', 'JEDA Technologies, Inc. Japan'

The demand for smaller, more powerful electronic devices has led to an increase in the complexity of designs. EDA software plays a crucial role in managing this complexity by providing tools for simulation, verification, and optimization. As designs become more intricate, the need for sophisticated EDA solutions grows, driving market expansion.

Integration of AI and Machine Learning: The EDA software market has been incorporating artificial intelligence (AI) and machine learning (ML) technologies to enhance various aspects of the design process. These technologies were being used to optimize chip design, automate routine tasks, predict design issues, and improve overall efficiency. AI-driven EDA tools were expected to contribute to faster design iterations, reduced design errors, and improved design performance.

North America, especially the United States, has historically been a major hub for technology and semiconductor companies. Silicon Valley and other technology clusters contribute significantly to the demand for EDA software in this region. The presence of large semiconductor companies, research institutions, and universities drives innovation and the need for advanced EDA tools. The United States is likely to remain one of the largest markets for EDA software.