Electrical & Electronic Computer-Aided Design (ECAD) Market Scenario:
The COVID-19 pandemic disruption is estimated to transform the Electrical & Electronic Computer-Aided Design (ECAD) Market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the Electrical & Electronic Computer-Aided Design (ECAD) Market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.
Global Electrical and Electronic Computer-Aided Design (ECAD) Market is expected to expand at 8.5% CAGR over the forecast period (2020-2026). ECAD is a simulation software used in design and creation of electronic and electric circuits.
Electrical computer-aided design (ECAD) is big business, and the market is driven by the increasing use of cloud-based ECAD solutions and increasing demand for electronic design automation. According to the MRFR analysis, Cadence Design System Inc. occupied the first position in the ECAD market. The company has a stronghold over nearly all the major markets, including North America and Europe. The company concentrates on continuous research & development, which helps the company to have a competitive edge over other key players operating in the market. The company has a comprehensive product portfolio and a strong customer base.
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The key players of the global ECAD market include Zuken (Japan), Aucotec AG (Germany), WSCAD (Germany), MENTOR GRAPHICS (US), Autodesk Inc. (US), Sienna Ecad Technologies (India), Dassault Systèmes SE (France), TRIMBLE INC. (US), Hexagon AB (Sweden), IGE+XAO Group (France), Siemens AG (Germany), Eplan Software & Service Gmbh & Co. KG (Germany), Bentley Systems, Inc.(US), ALPI International Software SA (France), and Cadence Design System Inc. (US).
• The Global ECAD Market has been segmented based on component, industry type, application, vertical, and region.
• Based on component, the global computer-aided design (ECAD) market has been segmented into software and services. The software segment accounted for the larger market share in 2019, and it is expected to register a CAGR of 7.8% during the forecast period. The services segment was the second-largest market in 2019.
• The global electrical computer-aided design (ECAD) market, by industry type, has been divided into the process industry and discrete industry. The discrete industry segment accounted for the largest market share, and it is expected to register the highest CAGR during the forecast period.
• By application, the market has been segmented into industrial machine controls, rail signaling, plant design, mining equipment control, switchgear design, water treatment and distribution system control, and others. The industrial machine controls segment is expected to dominate the market during the forecast period.
• The verticals studied for the market research report are automotive, aerospace & defense, construction, equipment and machinery, railway, power generation and energy, oil & gas, food & beverage, and others. The automotive segment is anticipated to lead the global electrical computer-aided design (ECAD) market over the forecast period.
North America is expected to be the largest market for ECAD solutions during the forecast period. North America has been segmented into three countries, namely the US, Canada, and Mexico.
The US is the leading market in North America, accounting for a significant market share. The electrical computer-aided design (ECAD) market in the US is expected to grow significantly, owing to the presence of major players. The market growth in the country can be attributed to the increasing urbanization, advances in digital technology, higher disposable incomes, and the high demand for advanced manufacturing robotic technologies. In addition to it, favorable government policies to help factory automation are contributing to the growth of the global market. Adding to it, the market growth is driven by the increased demand for intelligent and automated manufacturing systems and the rising focus on digitization of oil fields to adopt industry 4.0.
Europe is projected to hold the second spot (in terms of market share) in the overall market during the forecast period. Europe is segmented into the UK, Germany, France, and the rest of Europe. The market growth is attributed mainly to advancements in cloud-based ECAD tools and services. The main factors contributing to the growth of the electronic computer-aided design (ECAD) market in Europe are the low cost of adoption and greater storage capabilities of cloud-based solutions and services.
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Table of Contents:
1 Executive Summary
2 Market Introduction
2.1 Definition 23
2.2 Scope Of The Study 23
2.3 Research Objective 23
2.4 Market Structure 24
3 Research Methodology
4 Market Dynamics
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