The surging demand for complex integrated circuits (ICs), technologically advanced consumer electronics, and the growing adoption of connected devices are the main factors driving the growth of the electronic design automation market. The electronic design automation market revenue is anticipated to reach $18.1 billion by 2026, registering a CAGR of 7.7%.
In addition, the miniaturization of chips and devices is anticipated to bode well for the EDA market, despite the ongoing semiconductor chip shortage. Moreover, increasing automobile automation and the rapid growth of connected devices are expected to bolster the demand for advanced semiconductor devices, thereby increasing the growth of the electronic design tools market.
