As per the latest 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 MarketStudyReport, global electronic design automation (EDA) market which amassed a valuation of USD 10828.11 million in 2020 is expected to record a considerable growth rate through 2026.

Rapid digitalization and escalating usage of electronics in day-to-day life are the factors aiding the augmentation in global electronic design automation (EDA) market.

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In addition, escalating product uptake across several industry verticals, including aerospace, defence, telecommunications, consumer electronics, and healthcare, technological advancements and favorable government regulations are likely to unearth novel opportunities for market expansion during the forecast period.

Speaking of the impact of the Covid-19 pandemic, the marketplace was severely affected by lockdown mandates put in place to curb the spread of the virus, leading to constant disruptions in supply chain management, resulting in delayed deliveries, as well as plunged demand for occasion use services due to event cancellations.

For the purpose of a comprehensive assessment, global electronic design automation industry is bifurcated in terms of type, application spectrum, and regional terrain. Current trends, renumeration scope ,and growth prospects of each sub-segment are extensively discussed in the report to ensure a smoother decision-making process on the part of the stakeholders.

From a geographical standpoint, the America market is anticipated to gain substantial traction during the assessment timeframe, creditable to the dense presence of industry moguls in the region.

The competitive terrain of global electronic design automation (EDA)business sphere is influenced by companies such as Synopsys Inc., Autodesk Inc., Siemens AG, Keysight Technologies, Cadence Design Systems Inc., Xilinx Inc., Dassault Systemes
SE, Ansys Inc., Altair Engineering Inc., and Altium Ltd.

These companies are constantly directing efforts towards expanding their product portfolio and service offerings by undertaking strategic initiatives such as acquisitions, partnership deals, and mergers to meet the growing demands of consumers and maintain a strong presence in the industry.