A printed circuit board (PCB) is the main building block of almost all electronic devices and PCB design software are used for creating PCB layouts for electronics products. PCB design software offers functions such as schematic capture, component placement, 3D modeling, library management etc. which allows engineers to design and manufacture PCBs used in various electronics products efficiently. The software simplifies the process of board design and reduces time to market for new products. Industries such as consumer electronics, telecommunications, automotive and healthcare extensively rely on PCBs and PCB design software for developing their electronic systems and products.
The global PCB design software market is estimated to be valued at US$ 4 Mn in 2023 and is expected to exhibit a CAGR of 9.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The surging adoption of internet of things (IoT) devices is driving the demand for PCBs and subsequently boosting the PCB design software market. According to Statista, the number of IoT connected devices worldwide is estimated to grow from 14.2 billion in 2023 to 25.2 billion by 2030. IoT applications require embedded circuit boards for connectivity and it is not feasible to develop them manually without the aid of specialized PCB design software. Additionally, the evolution of 5G networks is enabling a new wave of IoT devices and applications and also increasing complexity in PCB designs. This is expected to fuel the adoption of PCB design software during the forecast period. Another factor contributing to the market growth includes increasing R&D spending by electronics companies on developing innovative products coupled with electrification trend in automobiles.
SWOT Analysis
Strength: PCB design software provides efficient design capabilities with highly advanced tools and features which saves design time and cost for manufacturers. Features like auto-routing, error checking reduce chances of design faults. Real time collaboration enables distributed teams to work on the same design simultaneously.
Weakness: High costs associated with subscription licenses of professional PCB design software limits their adoption among small and medium enterprises. Lack of expertise to leverage advanced features and complex user interface hinders the learning curve.
Opportunity: Growing demand for customized and application specific PCBs from automotive, industrial electronics sector presents an opportunity. Emerging technologies like IoT and connected devices will drive the need for further software capabilities. Open source PCB design solutions can address budget constraints of SMEs and hobbyists.
Threats: Availability of inexpensive or free alternatives limits pricing power of established vendors. Increasing preference for cloud-based SaaS model over traditional licensing model poses transition challenges. Frequent technology updates required to stay relevant against competing solutions.
Key Takeaways
The global PCB Design Software Market Demand is expected to witness high growth driven by industrial automation and connectivity trends. The global PCB design software market is estimated to be valued at US$ 4 Mn in 2023 and is expected to exhibit a CAGR of 9.8% over the forecast period 2023 to 2030.
Regional analysis shows that North America currently dominates accounting for over 35% market share led by presence of major players and advanced electronics manufacturing industry in the region. However, APAC is emerging as the fastest growing region on back of electronics hardware shift driven by improving design expertise and government initiatives for electronics manufacturing.
Key players operating in the PCB Design Software market are Chattanooga International, Humares, Prime Pacific Health, Herrmann Apparatebau, Transcom, CleanColon Italy, Prometheus Group, Shenzhen Lifotronic Technology, PPHIC, Comba UK, Enteromed Group, and Lifotronic, Dotolo Research, TECNO-GAZ. The market is highly concentrated with top 5 vendors accounting for over 60% share. Major players are focusing on expanding into developing markets and enhancing their AI and IoT capabilities. Competition exists around customization, collaboration and cloud offerings.
Explore more related article on this topic: https://www.ukwebwire.com/printed-circuit-board-pcb-design-software-market-analysis/
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian