Electronic Design Automation Tools Market Trends

Growth Drivers

Demand for miniature electronic devices

Smartphones, tablets and laptops are the foundations of modern digital world. The evolution of telephones to landlines and to modern day mobile handsets (smartphones) equipped with custom made SoCs with PC processing capabilities can be attributed to the increasing demand for miniature devices. This requires EDA tools able to tackle the problems of high complexity to support 5G, liquid cooling while maintaining accuracy and precision. Tablets and laptops are further being designed to support 5G and cloud computing capabilities. These technological innovations are expected to drive the market growth during the forecast period.

Increasing Demand for IoT Devices

The “Internet of Things” device sales are increasing enormously which is a major growth driving factor for the market. These devices are multipurpose as they can be used in a variety of applications. These IoT devices are deployed in industries to enhance the operational efficiency, which involves lot of customization and is application specific. EDA tools are vividly used to develop application-specific integrated circuits to fulfill industry needs.

Challenges

Lack of Skilled Professionals

Lack of skilled professionals for effectively deploying these resources along with high cost of training the individuals to understand these EDA tools are some factors estimated to hinder the growth of the market.