May 4, 2021
The electronic design automation (EDA) market size valued at over USD 10 billion in 2020 and is expected to expand at around 8% CAGR from 2021 to 2027 owing to growth of internet of things (IoT) and connected devices.
One of the application segments, which is paving way for a lucrative growth pathway for EDA market is the thriving consumer electronics industry. While the consumer electronics producers are working rigorously to address the demand put forth by electronics industry in terms of the rising need for compact and miniaturized smart devices, the dependence on EDA has gradually increased.
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