Pcb Design Software Is Estimated To Witness High Growth
SWOT Analysis
Strengths:
- Three sentence explanation about Pcb Design Software strengths like it helps in reducing design cycle time, increasing productivity and accurate designing.
Weaknesses:
- Three sentence explanation about two weaknesses like requirement of skilled professionals for operation and high initial investment.
Opportunities:
- Three sentence explanation about two opportunities like scope of IoT and advancement in fabrication technology.
Threats:
- Two sentence explanation about two threats like open source tools and frequent technology upgradations.
Key Takeaways
The Global Pcb Design Software Market Size is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing demand for portable electronics and wearable devices. The software helps circuit designers and engineers design and develop printed circuit boards used in these devices efficiently and accurately in less time.
Regional analysis:
Asia Pacific region is expected to dominate the global Pcb Design Software market during the forecast period. The region is estimated to account for around 45% share of the overall market by 2030, owing to rapid growth of electronics industry especially in China, India, and other Southeast Asian countries. North America is expected to exhibit a CAGR of over 10% during 2023 - 2030, due to strong presence of Pcb Design Software providers like Cadence Design Systems, Inc. and Altium LLC in the region.
Key players:
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. Cadence Design Systems, Inc. and Altium LLC collectively account for over 35% of global market share. The companies are focusing on new product launches and partnerships with fabricators to strengthen their presence in the market.
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