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

Global 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 Global Electronic Design Automation (EDA) software market is experiencing steady growth due to the increasing demand for electronics and technological advancements like AI and IoT.

With the increasing complexity of electronic systems and the integration of multiple components into a single product, system-level design was becoming more important.

EDA software providers were focusing on offering solutions that allowed designers to work at higher levels of abstraction, facilitating the design and verification of entire systems rather than just individual components. This approach aimed to reduce design cycle times and improve collaboration among different design teams.

Cloud computing was making its way into the EDA software market, offering designers the ability to access powerful computational resources remotely.

Cloud-based EDA solutions were seen to address the scalability challenges that arise when dealing with large and complex designs. Design teams could leverage the cloud's flexibility to handle peak workloads, collaborate more effectively, and reduce the need for significant on-premises infrastructure.

Market trends included rising complexity of chip designs, a shift towards cloud-based solutions, and the integration of EDA tools in various industries beyond traditional electronics. For the latest insights, consult current market reports.

US Electronic Design Automation Software Market is poised to grow at a sustainable CAGR for the next forecast year.