Global PCB design software market to reach US$ 9.02 Billion by 2030, Owing to increasing adoption of advanced technologies. Printed circuit board design software is a tool that is used for the construction of the layout of the circuit of an electronic device. It includes numerous components such as capacitors, resistors, transistors, and integrated circuits (ICs). Furthermore, auto-routing is one of the most common features of PCB design software that helps automate wire routing. Auto placement is a feature available in some PCB design software that automates the placement of components.
Global PCB design software market is expected to surpass US$ 9.02 Bn by 2030, exhibiting a CAGR of 12.3% over the forecast period. According to PCB design software Market Report, by Product Technology (High-end Software, Mainstream Software, Low-end Software), by End User (Computing Industry, Consumer Electronics Industry, Communication Industry, Medical Industry, Automotive Industry, Defense Industry), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa).
Global PCB Design Software Market: Drivers
Increasing demand from the electronics, medical, automotive, and defense sectors
Increasing demand from the electronics, medical, automotive, and defense sectors is expected to drive the global PCB design software market growth during the forecast period. Consumer electronics industry has witnessed massive growth in the recent past, due to increasing usage of wearable devices and smartphones. Automobile industry is expected to witness the advancement of connected devices over the forecast period. Furthermore, demand for electronic devices has increased in medical and defense applications in the recent past significantly. PCB design software plays a crucial role in designing these devices.
Global PCB Design Software Market: Opportunities
Availability of Enhanced Designing Techniques
Availability of enhanced designing techniques provide major business opportunities. Majority of software vendors are focused on introducing new updates, in order to address various issues faced by customers while designing PCBs. Advanced technologies such as improved auto-rotating techniques, intelligent interactive dialogs, and features are used to create complex signal paths. For instance, WestDev Ltd, Software Company, the company’s PCB design software named Pulsonix includes features such as 3D design and visualization, integration and import tools, data management, and high-speed design capabilities that helps in designing of PCBs.
Global PCB Design Software Market: Restraints
Lack of skilled personnel
Lack of skilled personnel is expected to hamper the global PCB design software market growth over the forecast period. Designing PCB software requires skilled software engineer with ample experience to utilize its features and capabilities. If there is a shortage of skilled personnel, it means there will be a limited number of professionals who can use the software effectively. This can resulted as lower adoption of PCB design software. Without adequate expertise, users may struggle to leverage the software’s advanced functionalities, resulting in suboptimal designs, longer design and production cycles and increased time and effort required to complete projects. Lack of skilled personnel can increase chances of errors in designing of software.
To mitigate these challenges, efforts can be made to promote education and training programs that focus on developing skills in PCB design software.
Global PCB Design Software Market: COVID-19 Impact Analysis:
The outbreak of COVID-19 pandemic had a significant impact on the global PCB design software market with a decrease in growth. Following the outbreak in December 2019, governments imposed stringent lockdown policies that lead to a temporary suspension in manufacturing activities across majority of verticals. Although demand for PCB design software was increased due to its primary use in medical equipment, but due to disruptions in global supply chain industry impacted the market growth massively.
Key Takeaways:
Global PCB design software market was valued at US$ 3.56 Bn in 2022 and is estimated to reach US$ 9.02 Bn by 2030 at a CAGR of 12.3% between 2023 and 2030.
Consumer Electronics Industry segment held a dominant position in the global PCB Design Software market in 2022, accounting for 53.5% share, in terms of value, owing to increasing approval and launch of new products.
To know the latest trends and insights prevalent in the Global PCB Design Software Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/pcb-design-software-market-4758
Global PCB Design Software Market- Trends
Constant research and development activities in electronics manufacturing industries
Constant research and development activities in electronics manufacturing industries is expected to drive the global PCB design software market growth during the forecast period. PCB design software is essential for designing and developing electronic circuits and PCB layouts, and R7D efforts contribute to the advancement and improvement of these software. The R&D activities such as innovation and features enhancement of PCB design software, enhance user experience and usability of PCB design software, multi domain integration of PCB design software with other domains and tools fuel the growth and adoption of PCB design software. These activities enable electronics designers and engineers to create high-quality, complex PCB layouts efficiently, leading to improve product development cycles and enhanced overall electric product performance.
Global PCB Design Software Market: Competitive Landscape
Key players operating in the global PCB design software market are Cadence Design Systems, Inc., Altium LLC, WestDev Ltd., Zuken Inc., AutoDesk Inc., Ansys, Inc., and Synopsys, Inc.
