According to the recent research report titled ‘Global Electronic Design Automation (EDA) Market: Analysis By Application, By Product, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with Market Study Report LLC, global electronic design automation (EDA) market was remunerated at USD 10828.11 million in 2020 and is projected to witness considerable growth between 2021 and 2026.
 

Growing acceptance of new consumer service industries in developing countries, rapid industrialization, and surging demand for high-efficiency electronic devices such as TV, radio, cellphones, etc. are the key factors fueling global electronic design automation (EDA) market growth.
 

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Governments worldwide have increased their support for technical advancements in microcontrollers and semiconductors. The growing adoption of EDA with applications across an array of sectors is assisting consumers in achieving better technical satisfaction with better efficacy, thus acting as a growth stimulant.
 

Speaking of recent developments, the outbreak of COVID-19 pandemic has negatively impacted key areas of EDA industry, such as disruptions in supply demand chain and delayed deliveries, resulting in restrained revenue inflow.
 

Based on application spectrum, the industry is bifurcated into telecommunications, medical, industrial, consumer electronics, automotive, aerospace & defense, and others. With respect to product type, global electronic design automation (EDA) market is split into services, PCB & MCM, IC physical design & verification, computer aided engineering, and semiconductor intellectual property (SIP).
 

Coming to regional terrain, America, Europe, and Asia Pacific are the leading contributors to the market progression. The report states that America industry is reckoned to gain significant traction in the next five years, on account of strong presence of major contenders that offer a diverse portfolio of EDA to fulfill the consumer demands in the region. Many individuals in rural and urban areas benefit from these companies' affordable, efficient, and timely EDA. These companies have also bought and partnered with other regional companies to broaden their portfolios and expand their geographic reach, further impacting the market trends.
 

Prominent firms influencing global electronic design automation (EDA) market dynamics are Dassault Systèmes SE, Synopsys Inc., Xilinx Inc., Siemens AG, Keysight Technologies Inc., Cadence Design Systems Inc., Autodesk Inc., Ansys Inc., Altium Ltd., and Altair Engineering Inc.