VANCOUVER, BC, Dec. 8, 2023 /PRNewswire/ — The global Printed Circuit Board (PCB) design software market size reached USD 1.15 Billion in 2020 and is expected to register a significantly steady revenue CAGR during the forecast period, according to latest analysis by Emergen Research. Rise in demand for PCB design software in the consumer electronics industry is a key factor expected to drive market revenue growth over the forecast period.
Drivers:
Increasing need to save time and production costs of various electronics component and devices and equipment etc. are expected to drive demand for PCB design software over the forecast period. PCB design software is rapidly being used making circuit board designs in the electronics and telecommunication industry. This is primarily because it has high efficiency and the ability to minimise design errors, thereby, lowering entire production costs.
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Restraints:
Availability of open-source PCB design software is a primary factor expected to restrain market growth. Increasing use of pirated software is a threat to market growth. As a result, strict market implementations are made to restrict the usage of such software. Though PCB design software provide benefits, including ease of deployment and time saving, security problems appear if cloud-based deployment approaches are utilized.
Growth Projections:
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. Increasing need to reduce PCB production costs is a major factor driving market revenue growth.
COVID-19 Impact Analysis:
The COVID-19 pandemic severely impacted every industry globally. The PCB design software market was also affected by disruptions in the supply chain of hardware for computer systems. Limitation in terms of workforce also affected market growth to a significant extent. COVID-19 pandemic has a significant impact on the work culture of major segments including education sector, and transportation and consumer electronics industries among others.
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Current Trends and Innovations:
On-premise deployment of PCB design software preferred across majority of industries and sectors nowadays rather than On-cloud deployment. On-cloud deployment is more productive and cost-effective. Need for accessing data from remote locations is driving demand for cloud-based PCB design software, which are used by end users.
Geographical Outlook:
Europe market is expected to register major revenue growth over the forecast period. Presence of major players such as Siemens AG, Altium Limited, and Novarm Limited (DipTrace) in countries in the region is expected to contribute to revenue growth of the Europe market.
Strategic Initiatives:
Some major companies operating in the market include 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.
- In April 2023, Upchain was acquired by Autodesk Inc. This acquisition enables offering a cloud-based Product Life Cycle Management (PLM) services is countries across the globe. Upchain’s focus is on small and medium sized companies. It promises to be more affordable and usable than other solutions available in the market.
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Emergen Research has segmented the global Printed Circuit Board (PCB) design software market on the basis of type, deployment, end-use, and region:
- Type Outlook (Revenue, USD Billion; 2018–2028)
- Schematic Capture
- PCB Layout
- Deployment Outlook (Revenue, USD Billion; 2018–2028)
- On-premise
- On-cloud
- End-Use Outlook (Revenue, USD Billion; 2018–2028)
- Education & Research
- Industrial Automation & Control
- Healthcare
- Aerospace & Defense
- Semiconductors
- Telecommunications
- Consumer Electronics
- Transportation
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- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
a. U.S.
b. Canada
c. Mexico - Europe
a. Germany
b. France
c. U.K.
d. Italy
e. Spain
f. BENELUX
g. Rest of Europe - Asia Pacific
a. China
b. India
c. Japan
d. South Korea
e. Rest of APAC - Latin America
a. Brazil
b. Rest of LATAM - Middle East & Africa
a. Saudi Arabia
b. UAE
c. South Africa
d. Turkey
e. Rest of MEA
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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