News provided byAllied Market Research
Aug 14, 2024, 06:00 ET
Globalization and outsourcing of electronics manufacturing has led to adoption of PCB design software worldwide by countries that are in search of low-cost labor, thus fueling the market growth and innovation in the sector.
NEW CASTLE, Del., Aug. 14, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “PCB Design Software Market by Component (Software and Services), Deployment (Cloud Based and On-Premise), and End User (Healthcare, Consumer Electronics, Automotive, Aerospace & Defense, Industrial and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032″. According to the report, the PCB design software market was valued at $3.8 billion in 2023, and is estimated to reach $11.1 billion by 2032, growing at a CAGR of 12.4% from 2024 to 2032.
Prime determinants of growth
Some of the important factors propelling the growth of the PCB design software market is several technological advancements, increased demand for electronic products across various fields and a rise in the complexity of circuit boards designs. As consumer electronics, automotive, aerospace and telecommunications sectors continue to expand, there’s an increased requirement for effective and complex PCB design solutions. Also driving this demand have been technological advances such as 5G, AI, IoT and machine learning, which necessitate flexible PCB design software for new applications. Furthermore, rising trends towards miniaturization and integration of electronic components have boosted the development of sophisticated tools capable of handling intricate layouts and high-speed signals.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2032 |
| Base Year | 2023 |
| Market Size in 2023 | $3.8 billion |
| Market Size in 2032 | $11.1 billion |
| CAGR | 12.4 % |
| No. of Pages in Report | 200 |
| Segments Covered | Component, Deployment Mode, End User, and Region |
| Drivers | Rise in need for developing miniature PCB designs Increase in adopted connected devices |
| Opportunities | Integration of AI across PCB design software for design automation |
| Restraint | Rise in complexity in electronics design |
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Segment Highlights
The global PCB design software market is segmented into component, deployment mode, end user, and region. By component, the market is classified into software and services. The software segment accounted for the highest share in the global PCB design software market. Based on deployment mode, the market is bifurcated into cloud and on-premises. The cloud segment is expected to grow with the highest CAGR during the forecast period. Based on end user, the market is categorized into healthcare, consumer electronics, automotive, aerospace & defense, industrial, and other. The consumer electronics segment accounted for the highest share and is also expected to retain its dominance during the forecast period.
Regional Outlook
Region-wise, the PCB design software market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for a significant share in the global PCB design software market in 2023. There is a dire need for effective PCB design solutions given the surging demand for electronics in different industries such as consumer electronics, automotive and telecommunications. Asia-Pacific region has become a place of attraction in terms of PCB design software innovation due to its technology oriented human resource and strong manufacturing base. This has resulted in ground-breaking programs that meet different market needs coming up from China, Japan, South Korea and India which have highly invested on research and development (R&D). Moreover, this area has played a significant role in encouraging development of the PCB design software industry through embracing new trends like AI or artificial intelligence and IOT or internet of things.
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Major Industry Players: –
- Altium Limited
- Autodesk Inc.
- EasyEDA
- Cadence Design Systems, Inc.
- Siemens
- Labcenter Electronics
- ANSYS, Inc
- Zuken
- Synopsys, Inc.
- Novarm Limited.
The report provides a detailed analysis of these key vendors in the global PCB design software market. These players have adopted different strategies such as new development, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, portfolio, and strategic moves of market vendors to showcase the competitive scenario.
Recent Development:
- On February 2023, Flux announced the launch of its new online PCB design tool. This software is designed to enhance the efficiency of designing miniature PCBs for several industries such as consumer electronics and industrial equipment.
- In April 2023, Cadence Design Systems, Inc. announced the launch of Cadence Allegro. The solution is integrated with advanced technology like AI to improve its performance and integrate automation in the PCB design software. The solution is also designed to reduce the number of days required to design a PCB compared to manual processes.
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