by PCB design software is used to design printed circuit boards (PCBs). PCBs are components for electronic devices which connect electrical components using conductive tracks and pads or etched copper tracks between the components on the PCB substrate material. PCB design software helps in designing the circuit board effectively and efficiently. It helps designers to design, route and layout the circuit components, connections and tracks on PCBs. PCB design software also enables designers to virtually test PCB designs for errors or faults before physical manufacturing. It allows modification and changes during design stages for better functioning of the PCB.
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 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing demand for IoT devices is a key trend driving the growth of PCB design software market. IoT devices such as smart home appliances, smart wearables, industrial IoT devices require efficient PCBs for operations. PCB design software help designers integrate various components and connectivity options efficiently to develop robust PCBs for IoT devices. Growing technological advancements is another key trend. Advanced PCB design software offer new features such as 3D visualization, design re-use, intelligent connectivity, simulation, and optimization capabilities which is improving design quality and efficiency. Software vendors are also offering cloud-based PCB design software as a service (SaaS) model and automated tool flows to streamline design processes.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate in the PCB design software market due to the requirement of high initial investments and strong differentiation strategies of established players.
Bargaining power of buyers: The bargaining power of buyers is high in the PCB design software market as the products are differentiated and switching costs for buyers are low.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the presence of a large number of component suppliers in the market.
Threat of new substitutes: The threat of substitutes is low as there are currently limited substitutes for PCB design software.
Competitive rivalry: is intense among existing players due to their large global presence and focus on new technology developments.
Key Takeaways
The Global PCB Design Software Market Demand is expected to witness high growth, exhibiting a CAGR of 12% over the forecast period, due to increasing demand for miniaturization of electronic devices and growing need for PCB design automation.
Regional analysis
North America dominated the global PCB design software market in 2023 and is expected to maintain its leading position during the forecast period. This is attributed to the presence of major electronics companies in the region requiring frequent PCB design changes. Asia Pacific is expected to be the fastest growing market owing to expansion of electronics industry in China and India.
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 and Altium LLC are recognized as the market leaders due to their innovative product portfolio and broad global presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
