In a recent published report, Kenneth Research has updated the market report for PCB Design Software Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for PCB Design Software Market products.
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The PCB Design Software Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe’s organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.
Market synopsis
Printed Circuit Board (PCB) Design Software is a tool used for the construction of layout of the circuit of an electronic device. PCB mounts various electronic components such as resistors, transistors, IC’s (Integrated Circuits), and capacitors. Small sized device components are not easy to connect with the breadboard, however with PCB (Printed Circuit Board), one is able to connect small sized components to the breadboard. With PCB Design Software, enterprises are able to test the working and provide visualization of the circuit. PCB Design Software facilitates accuracy and productivity of PCB Design process. The PCB Design Software is implemented in designing and manufacturing of devices in the field of automotive, medical & healthcare, building & construction equipment, and communication devices.
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Vendors providing the PCB design software are focusing on reducing the design time used to prepare the construction layout, which is expected to enable the growth of global PCB Design Software Market. The software offers the design engineers with the ability to enhance production rate and scalable integration of complex circuit designs.However, advancements in the development of open-source PCB Design software would hamper the growth of this market. The market opportunities lie in the development of multisite single PCB design software which will facilitate mass production of circuits for electronic devices.
Segmentation
By Design Complexity, the market is segmented into Low end, Medium end and High-end designBy Type, the market is segmented into PCB Layout and Schematic CaptureBy Deployment Type, the market is segmented into On-cloud and On-PremiseBy Industry, the market is segmented into Transportation, Consumer Electronics, Telecommunications, Semiconductors, Aerospace & Defense, Healthcare, Industrial Automation & Control and Education & Research.The PCB Design Software market is expected to grow at a CAGR of ~26% and reach ~4 Billion by the end of 2023.
Regional analysis
The global market for PCB Design Software is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of user activity monitoring market is studied for North America, Europe, Asia Pacific, and the rest of the world.
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At present, North America is dominating the PCB Design Software Market due to the increased investments from economies into research and development which drives the growth of the market. The U.S. has seen tremendous growth in the semiconductor industry and is anticipated to attain more growth during the forecast period. The European PCB Design Software Market is estimated to grow due to the investments from automobile companies to adopt PCB Design Software.
Also, Asia Pacific PCB Design Software market is expected to attain the highest growth during the forecast period due to various government initiatives in India and strong enterprise investments in China.Due to increasing adoption of automation and enormous opportunities across industries in the APAC countries, there is a better scope for advancement in the PCB Design Software market.
Key players
The prominent players in the market of PCB Design Software are – Mentor Graphics (U.S.), Cadence Design Systems (U.S.), Zuken Inc. (Japan), Altium (U.S.), CadSoft (Germany), Novarm (Ukraine), Shanghai Tsingyue (China), Forte Design Systems Inc. (U.S.), Synopsys Inc. (U.S.), and SolidWorks (U.S.).
The prominent players keep innovating and investing in research and development to present a cost-effective product portfolio. There has been recent mergers and acquisitions among the key players, a strategy the business entities leverage to strengthen their reach to the customers.
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Intended Audience
PCB Design Software Providers
Electronic Device Manufacturers
PCB Developers
Consumer Electronics Providers
Industrial electronics equipment providers
Automotive circuit developers
Instrumentation Software Developers
Defense and Aerospace circuit developers
System Integrators
Semiconductor circuit developers
Automation circuit developers
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