Cloud EDA Market Size, Share, Growth, and Industry Growth by Type (SIP (semiconductor intellectual property), IC Physical Design and Verification, Printed Circuit Board (PCB) and Multi-Chip Module (MCM), and Cloud EDA) By Application (Aerospace & Defense, Electronics & Manufacturing, Telecom, Medical, and Others) Regional Forecast To 2031

Updated On: 08 April 2024

Cloud EDA Market Report Overview

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The global cloud EDA market size is estimated to be USD 7021 million in 2022 and the market is projected to touch USD 10,115.5 million by 2030, exhibiting a growing CAGR of 4.6% during the forecast period.

Cloud EDA offers companies an opportunity to reduce time to market. It helps to speed up innovation by maintaining or lowering effective costs. Cloud EDA is also known as electronic computer-aided design (ECAD).

The major factors responsible to drive the market growth are high adoption in manufacturing aerospace and defense equipment. This advanced technology helps to reduce design time and error. Also, rapid technological advancement and the growing need for cloud-based solutions are estimated to surge market growth. Cloud design is used for the specification, verification, designing, and implementation of electronic systems such as integrated circuits or printed circuits. These properties of the cloud-based solution are anticipated to fuel market growth. The automation tool helps bugs and defects in circuit board chips be eliminated. It helps to store data on the cloud which is estimated to fuel market growth in the forthcoming years. However, the high cost associated with the automation tool is anticipated to limit the market growth. Also, the availability of open-source software is predicted to harm market growth in the upcoming years.

 The global COVID-19 pandemic has been unprecedented and staggering, with cloud EDA experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

COVID-19 Impact: Lower Production of Semiconductors to Hamper Market Growth

Lockdown restrictions and social distance protocols affect the production of semiconductors. Growing need to protect people from the virus companies were closed temporarily which minimized production activities. The shutdown of several industries such as electronics, automotive, and aircraft lowered the demand for the product.

However, work-from-home culture boosted product demand owing to the growth of PCBs and chip-in system design companies. Increased demand for system-level design drove market growth during the pandemic period.

LATEST TRENDS 

"Several Features Associated with Technology to Accelerate Market Growth"

The cloud design automation software has several features such as auto-rotating, auto-tuning, and auto-placement. These features help to reduce errors and make fabrication easier. The product has the capability to save time by addressing potential errors before building the prototype, which is estimated to foster market growth. The automation tool helps bugs and defects in circuit board chips be eliminated. It helps to store data on the cloud which is assessed to fuel market growth in the forthcoming years.

Cloud EDA Market Segmentation

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• By Type

Based on type, the market is divided into IC physical design and verification, SIP (semiconductor intellectual property), printed circuit board (PCB) and multi-chip module (MCM), and cloud EDA.

SIP (semiconductor intellectual property) is estimated to be the leading part of type segmentation.

• By Application

Based on application, the market is classified into aerospace & defense, electronics & manufacturing, telecom, medical, and others.

Aerospace & defense is estimated to be the leading part of application segmentation.

DRIVING FACTORS

"Rapid Adoption of Cloud-Based Solutions and Growing Digitalization to Fuel Market Growth"

The rapid adoption of cloud-based solutions and increased digitalization are estimated to fuel market growth. The technology is designed to reduce complexity and manage time. It involves the implementation of multiple wires and components before designing and professionals must consider a number of aspects such as desired, signals, and error tolerance. The system ensures a complete schematic. Further, this advanced technology helps to reduce design time and error. Also, rapid technological advancement and the growing need for cloud-based solutions are estimated to surge market growth. Cloud design is used for the specification, verification, designing, and implementation of electronic systems such as integrated circuits or printed circuits. These properties of the cloud-based solution are anticipated to fuel cloud EDA market growth.

"Growing Preference for Smaller-Size Circuits to Foster Market Growth"

Increasing preference for smaller-size circuits and miniaturized chips in automotive and electronic sectors to drive market growth. Increased demand for the product in aerospace and defense is anticipated to accelerate market growth. It helps to extend security measures and is time-saving. It is a cost-effective solution. Further, the growing complication of semiconductor device designs coupled with the high adoption of the technology to design compact processors is projected to foster the market growth in the forthcoming years. 

RESTRAINING FACTORS

"High Costs and Availability of Open-Source Software to Obstruct Market Growth"

The high cost associated with the automation tool is anticipated to limit the market growth. Also, the availability of open-source software is predicted to harm market growth in the upcoming years.

Cloud EDA Market Regional Insights

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"Presence of Key Market Players in North America to Drive Market Share "

North America is anticipated to account for the highest cloud EDA market share owing to the presence of prominent market players such as Cadence and Synopsys. High adoption in manufacturing aerospace and defense equipment. This advanced technology helps to reduce design time and error. Also, rapid technological advancement and the growing need for cloud-based solutions are estimated to surge market growth. Cloud design is used for the specification, verification, designing, and implementation of electronic systems such as integrated circuits or printed circuits. These properties of the cloud-based solution are anticipated to fuel market growth.

KEY INDUSTRY PLAYERS

"Leading Players Adopt Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the Industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Synopsys (U.S.)
• Cadence (U.S.)
• Mentor (U.S.)
• Keysight (U.S.)
• Zuken (Japan)
• Altium (U.S.)
• ANSYS (U.S.)
• Agnisys (U.S.)
• Xpeedic (China)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.