PCB design software allows designing printed circuit boards electronically on a computer. It enables designers to create schematic diagrams of electronic components and their connections on the PCB. Key features of PCB design software include schematic design, component placement, routing, design rule checking, bill of materials generation, simulation and manufacturing outputs. They are used for designing single-layer, double-layer and multi-layer circuit boards for applications across various industries such as consumer electronics, automotive, medical devices, telecommunications equipment etc.
The Pcb Design Software Market is estimated to be valued at US$ 4 Mn in 2023 and is expected to exhibit a CAGR of 12.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing customization of products is one of the major drivers for the Pcb Design Software market. Electronic devices across different industries are witnessing higher customization as per the specific requirements of end-users. This necessitates modification in the underlying printed circuit board design as well. Pcb Design Software allows designers to efficiently customize and modify circuit layouts, meeting varied custom needs. Rapid advancements in technologies such as IoT, 5G, and artificial intelligence are creating new opportunities for electronics across industries. This is fueling demand for more complex PCB designs and driving the need for advanced Pcb Design Software with capabilities such as high-speed signal integrity analysis, high density routing, and high pin count package support. Designers are actively leveraging such advanced software tools to build technologically advanced PCBs for next-gen applications.
Segment Analysis
The PCB design software market is dominated by the cloud/web-based segment owing to advantages like remote accessibility, automatic software updates, cost-effectiveness of subscription-based pricing models as compared to licensed models. Cloud/web-based PCB design software is gaining popularity among small and medium firms who prefer the flexibility of cloud services over installing servers on-premises.
PEST Analysis
Political: Trade policies and regulations in different regions can impact the adoption of PCB design software especially the import/export of finished PCB products.
Economic: The growth of end-use industries like automotive, consumer electronics, healthcare will drive demand for customized PCBs, augmenting the adoption of advanced PCB design software.
Social: Growing trend of bringing your own device (BYOD) in workplaces and digitalization of consumer services have increased the demand for sophisticated electronic devices requiring intricate PCB design.
Technological: Continued integration of emerging technologies like AI, ML into EDA tools is enhancing the accuracy, speed and productivity of PCB design processes enabling complex board designs.
Key Takeaways
The Global PCB Design Software Market Growth is expected to witness high, exhibiting a CAGR of 12% over the forecast period, due to increasing complexities in PCB design with growing functionality of electronic devices. The market size is projected to reach US$ 8 Bn by 2030 from an estimated US$ 4 Mn in 2023.
Asia Pacific is anticipated to be the fastest growing as well as the largest regional market for PCB design software during the forecast period. The availability of a large talent pool with engineering expertise and the presence of major electronics OEMs are driving the adoption of advanced design tools in the region.
Key players operating in the PCB design software market are Cadence Design Systems, Inc., Altium LLC, WestDev Ltd., Zuken Inc., AutoDesk Inc. ANSYS, Inc., Synopsys, Inc., and Novarm Limited. These players are continuously focusing on expanding their product portfolios and capabilities through strategic partnerships and collaborations to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it