Vancouver, October 16, 2023 (GLOBE NEWSWIRE) — Current Market Scenario:
The global printed circuit board (PCB) design software market. The size reached $1.15 billion in 2020 and is expected to register a significantly stable revenue CAGR during the forecast period, according to the latest analysis from Emergen Research. The rise in demand for PCB design software in the consumer electronics industry is a key factor that is expected to drive market revenue growth over the forecast period.
The increasing need to save time and production costs of various electronic components and devices and equipment etc. is expected to drive the demand for PCB design software over the forecast period. PCB design software is rapidly being used for printed circuit board design in the electronics and telecommunications industries. This is mainly because it has high efficiency and the ability to minimize design errors, thus reducing the entire production cost.
The availability of open-source PCB design software is a primary factor expected to limit market growth. The increasing use of pirated software poses a threat to market growth. As a result, strict market implementations are made to limit the use of such software. While PCB design software offers benefits including ease of implementation and time savings, security concerns arise when using cloud-based deployment approaches.
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The global PCB design software market revenue is expected to register a CAGR of 6.9% and increase from USD 1.15 billion in 2020 to USD 1.94 billion in 2028. The increasing need to reduce PCB manufacturing costs is a major factor driving the market’s revenue growth.
COVID-19 Impact Analysis:
The COVID-19 pandemic has severely impacted every sector worldwide. The PCB design software market was also hit by disruptions in the supply chain of computer systems hardware. Manpower constraints also had a significant impact on market growth. The COVID-19 pandemic is having a significant impact on the work culture of major segments, including the education sector, transportation and consumer electronics industries.
Current trends and innovations:
On-premise implementation of PCB design software is now preferred in most industries and sectors over cloud implementation. Deployment in the cloud is more productive and cost-effective. The need to access data from remote locations is driving the demand for cloud-based PCB design software, used by end users.
The European market is expected to register high sales growth over the forecast period. The presence of major players such as Siemens AG, Altium Limited and Novarm Limited (DipTrace) in countries in the region is expected to contribute to the sales growth of the European market.
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Scope of research
|Market size in 2020||$1.15 billion|
|Turnover forecast until 2032||$2.53 billion|
|Base year for estimation||2020|
|Quantitative units||Revenue in USD billion and CAGR in % from 2021 to 2028|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors and trends|
|Segments covered||Type, implementation, end use and region|
|Regional reach||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Land range||US, Canada, Mexico, Germany, France, UK, Italy, Spain, BENELUX, rest of Europe, China, India, Japan, South Korea, rest of APAC, Brazil, rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA|
|Key companies profiled||Autodesk Inc., Cadence Design Systems Inc., ANSYS Inc., Altium Limited, National Instruments Corporation, Synopsys Inc., Zuken.Inc, Novarm Limited (DipTrace), Mentor Graphics Inc. and WestDev Ltd.|
|Adjustment range||10 hours of free customization and expert advice|
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Large companies and competitive landscape
The global PCB design software market is fairly fragmented, with a number of large and medium-sized companies accounting for the majority of market revenue. Major players are adopting different strategies, entering into mergers and acquisitions, strategic agreements and contracts, and developing, testing and introducing more efficient and advanced PCB design software. Companies that are part of the global PCB design software market are:
- Autodesk Inc.
- Cadence Design Systems Inc.
- ANSYS Inc.
- Altium Limited
- National Instruments Corporation
- Synopsys Inc.
- Novarm Limited (DipTrace)
- Mentor Graphics Inc.
- WestDev Ltd.
- In May 2021, National Instruments Corporation (NIC) acquired MonoDrive. This acquisition will accelerate the development of autonomous vehicles around the world. In addition to the acquisition, NIC also entered into a strategic partnership with ANSYS Inc. to meet advanced simulation requirements. This shot from ANSYS Inc. at National Instruments Corporation will drive innovation and development processes.
- In May 2021, ANSYS Inc. Phoenix Integration Inc. taken over. The company offers model simulation, process automation, visualization and data management services. This acquisition will stimulate demand for software among electronics manufacturers and drive market growth.
- In September 2021, Synopsys Inc. Bistel Inc. taken over. This acquisition will enable Synopsys to extend its industry-leading processes with real-time, adaptive intelligence capabilities needed by the industry. Moreover, the acquisition of Bistel will not only improve production quality and efficiency, but also add a group of expert engineers to accelerate research and development using real-time predictive analytics.
- In January 2021, Cadence Design Systems Inc. NUMECA Inc. to expand its systems analysis capabilities with computational fluid dynamics, which will expand its simulation portfolio. The acquisition will provide design and visualization software for acoustic analysis, optimization, physical models and raster generation algorithms.
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Emergen Research has segmented the global printed circuit board (PCB) design software market based on type, implementation, end-use, and region:
- Type Outlook (revenue, billion USD; 2019-2032)
- Schematic recording
- PCB layout
- Stake Outlook (revenue, billion USD; 2019-2032)
- End use Outlook (revenue, billion USD; 2019-2032)
- Education & Research
- Industrial automation and control
- Space and Defense
- Consumer electronics
- Regional outlook (revenue, billion USD; 2019-2032)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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