Top Drivers and Main Restraints
The global market for PCB design software is projected to achieve a high growth rate of 26% during the forecast period (2018-2023). The market is also expected to touch a valuation of 4 Billion by the end of the year 2023.
PCB devices help connect to the breadboard, in situations when small size device components fail to do so. The technology aids enterprises in testing the working of the circuit and also offer visualization of the circuit. It finds widespread use among engineers to design the printed circuit board on the device since it has capabilities to tackle the issues related to the signal as well as power integrity. It also helps smoothen the entire designing process. In addition, the PCB design software can be integrated with numerous associated software including PLM, assisting engineers in providing an enhanced understanding of the designs as well as layouts of PCBs, in addition to fueling its adoption among users.
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Surging need to save time and deal with the issues encountered during product development has led the global PCB design software market to greater heights in recent years. Besides, the mounting use of PCB design software to build complex PCB for a number of applications like medical devices, contemporary automobiles, and communication devices also stimulates the growth of the PCB design software market.
Having said that, increasing use of pirated software, especially in countries like China and U.S. can have a negative impact on the market in the coming years. On the bright side, advancements in PCB Design software and its upgradation by the players can offer a host of profitable opportunities to the market in the following years.
Top companies that are responsible for the strong growth of the PCB design software market include Shanghai Tsingyue (China), Novarm (Ukraine), Altium (U.S.), SolidWorks (U.S.), Mentor Graphics (U.S.), Forte Design Systems Inc. (U.S.), Cadence Design Systems (U.S.), Zuken Inc. (Japan), Synopsys Inc. (U.S.), CadSoft (Germany), and others.
Many of these companies are involved in marketing hacks like product innovation and make considerable investments in research and development to offer an affordable but advanced product portfolio. There have been a number of mergers and acquisitions among the vendors, which helps them increase their reach to the customers.
The market for PCB design software has been segmented with respect to design complexity, type, deployment type and industry.
Given the design complexity, the market segments identified in the report are low end, medium end and high-end design.
Type-based market segments mentioned in the report are Schematic Capture and PCB Layout.
The deployment types are on-cloud and on-premise.
The industry-wise segments in the market are Industrial Automation & Control Consumer Electronics, Semiconductors, Aerospace & Defense, Telecommunications, Transportation, Education & Research and Healthcare.
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The geographical analysis of PCB design software market has been performed for North America, Europe, Asia Pacific, and the Rest of the World (RoW).
North America is the most profitable market for PCB design software, on account of the high investments made in research and development across various countries. The United States (U.S) houses a highly expansive semiconductor industry, and the country has the potential to become a strong market in the coming years.
The PCB design software market in Europe can expect to grow at a considerable pace owing to the substantial investments being made by the automobile companies in the PCB design software field.
The PCB Design Software market in APAC is anticipated to gain the highest growth rate in the conjectured timeframe, thanks to the increasing number of government initiatives in India as well as massive investments by enterprises in China. Also, rising adoption of automation combined with lucrative opportunities across industries offers excellent scope for advancement in the PCB design software market. Surging functionality of smartphones and the increasing number of electronics equipment in the transportation sector can also induce market growth in the years to come.
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