Cloud Electronic Design Automation (EDA) Market Size & Share, by Type (Computer Aided Engineering, Semiconductor Intellectual Property, IC Physical Design & Verification, Printed Circuit Board & Multi-Chip Module); Vertical (Automotive, Consumer Electronics, Aerospace & Defense, Industrial, Healthcare, Telecommunication) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

Growth Drivers

• Growing PCB Circuit Complexity is Fuelling Cloud EDA Market Growth- Several wires and components must be implemented when building a circuit, and an engineer must take a variety of factors into account when constructing, including input signals, the desired output, and error tolerance. When building a complex circuit, there are more parts and wires involved, which raises the possibility of errors. There is a fair bit of drafting required because the design is somewhat large. If the user has grasped the fundamentals at any time, there is no need to draw the remaining circuitry because the section ends with a completed schematic. On the other hand, an engineer can simulate the circuit design and gain insight into the challenges that arise in real-time when implementing the circuit using cloud electrical design automation software. A cloud-based electronic design automation tool with auto-placement, auto-routing, and auto-tuning capabilities can greatly minimize errors and simplify fabrication. Time is saved since possible mistakes are fixed before the prototype is built. The cloud electronic design automation (EDA) market is growing as a result of these features and advantages.
• Government Initiatives for Boosting Electronic Industry- Governments from several nations, including Saudi Arabia, France, Canada, Australia, India, China, Brazil, and Canada, are promoting digitization in the electronics sector, which is driving the rise of electronic design automation software. For example, the Indian government stated in November 2022 that it will provide funds of approximately USD 122 million to support chip design start-ups throughout the nation. The purpose of this grant is to support Indian start-ups involved in semiconductor design. Through 2030, these government measures will have a favorable impact on the EDA software market.
• Growing Demand for EDA in Automotive Industry- The cloud electronic design automation market is expanding rapidly due to the increasing need for electronic design automation (EDA) technologies in the automobile industry. With the increasing complexity of modern automobile electronics, EDA tools are essential for developing sensors, control systems, and integrated circuits (ICs). They give engineers working on automobiles the ability to create complex electronic parts that guarantee energy economy, safety, and communication. The need for EDA tools has increased dramatically in tandem with the popularity of electric and driverless vehicles, spurring innovation and improving the driving experience in general.

Challenges

• The global market's growth is being impeded by the availability of open-source software and pirated copies on the Internet- Numerous features-rich electrical design automation programs are offered for free over the Internet. Furthermore, the widespread use of pirated software in nations like the USA, Russia, and China forces software providers to provide their products at a discount. This is a significant element that is anticipated to limit cloud electronic design automation (EDA) market expansion.
• One market constraint is the disruption of the manufacturing industries' worldwide supply chain during the forecast period.
• Inadequate research and development constitute a cloud EDA market constraint during the forecast period.