Global Electronic Design Automation (EDA) Tools Market Offers Huge Growth Opportunities in Future

EDA, electronic design automation, which is also referred as electronic-computer aided design. It is a software tool that designs electronic system like integrated circuits and printed circuit boards. The adoption of the technology has lead to the reduction in cost, efficient design time and less errors. This has made the industry to witness growing demand for these tools in automotive, consumer electronics and defense sector and further strengthening the growth of global EDA tools market. Based upon type, the EDA tools market is categorized into on-premise solutions and cloud based solutions. Among these two segments on-premise solutions is anticipated to witness faster growth during the forecast period. On-premise solutions are considered to be flexible, secure and reliable option that helps the enterprises in efficiently managing their money, time and resources into their core business strategies.

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Increasing adoption of cloud computing and the increasing penetration of internet of things are the key factors pertaining towards the growth of EDA tools market globally. Furthermore, the technology has reduced the cost and made and has minimized the number of errors to great extent. Furthermore, due to increasing adoption of cloud technology the designs have become easier to access and available anytime and effective deployment of data is another feature that makes it economical has enabled EDA tools market to grow globally.

Geographically, EDA tools market in North America is anticipated to generate largest revenue throughput the estimated period due to the presence of large number of aerospace, automotive and defense companies that are utilizing this technology in order to enhance flexibility, cost-efficiencies and smooth functioning of their organization. Furthermore, Asia-Pacific is anticipated to generate fastest growth during the forecast period due to increasing adoption of cloud services and the increasing adoption of EDA technology in the manufacturing domain of this region.

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Key players in EDA tools market are launching new products and undergoing mergers and acquisitions in order to gain first mover advantage and be a differentiator in terms of product offering across the globe. For instance, it has been observed that in 2013 Synopsys acquired Magma Design automation and SpringSoft pvt. Ltd. in order to provide improcved designed tools to its customers. Some of the prominent players in the EDA tools market include Synopsys, Cadence Design Systems inc., Mentor Graphics, Zuken, EEsoF.


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