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Increasing Adoption of Connected Devices to Have Domino Effect on Demand for Electronic Design Automation Software, Predicts Fact.MR

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Rockville, Nov. 23, 2022 (GLOBE NEWSWIRE) — As per a new industry analysis by Fact.MR, a market research and competitive intelligence provider, the global electronic design automation (EDA) software market is estimated to exceed a valuation of US$ 11.2 billion in 2023 and grow at a high-value CAGR of 8.6% through 2033.

An explosion in the usage of IoT devices can be attributed to the perfect storm of technological and societal changes; there is rising demand for IoT solutions in most IoT end markets. Global IoT connections grew by 8% in 2021 accounting for 12.2 billion active end users, which represents ample opportunities for companies.

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Smartphones, wearables, TVs, and smart home systems are a few of the established IoT devices that have shifted from niche sectors to be widely discussed and adopted. The incorporation of ICs in all these consumer electronic devices is expected to drive the market for EDA software. Vast developments in the processing power and device miniaturization of smart connected devices will unleash a new era for electronic design automation software companies.

Key Takeaways from Market Study

  • By type, design EDA software is expected to remain the most attractive vertical in the global market and account for valuation of US$ 4.3 billion in 2023.
  • Based on deployment, web-based EDA software is likely to be valued at US$ 7.3 billion in 2023 and holds a market share of 65.4%.
  • Europe is expected to generate a valuation of US$ 3 billion in 2023.
  • The North America market is set to witness a CAGR of 8.5% over the forecast period.
  • The U.S. is likely to hold a share of 23.7% of the global market.
  • China is expected to generate a valuation of US$ 1.5 billion in 2023 and exhibit a CAGR of 8.1% through 2033.

Competitive Landscape

Prominent suppliers of EDA software globally are Aldec, Inc., Altair Engineering Inc, Altium Limited, ANSYS, Inc, Cadence Design Systems, Inc., ELECTRO-SYSTEM CO.LTD, EMA Design Automation, Inc, Faraday&Future Inc, Intel Corporation, Intercept Technology, Keysight Technologies, Microsemi, Pulsic Limited, Siemens, Silvaco, Inc., Synopsis, Inc., Tabula, Taiwan Semiconductor Manufacturing Company Limited, WestDev 2022, and Zuken.

These key manufacturers are constantly innovating software to meet modern-day challenges pertaining to the production of electronic systems due to the rise of VLSI systems.

In February 2022, Intel announced a partnership with the world’s top EDA software firms Siemens EDA, Ansys, Cadence, and Synopsis as a part of the ‘IFS Acceleration’ program to build an ecosystem to support and service its new foundry service business. This association will let software providers fine-tune their chip design software for Intel’s latest process and packaging technologies.

Fact.MR has provided detailed information about the service offering of key vendors of EDA software positioned across regions, sales growth, deployment scale, and speculative technological expansion, in the recently published report.

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Market Development

There are several software vendors providing electronic design automation software, making the market highly competitive. Software providers are leveraging the customization of their offerings to cater to the dynamic demand of vivid end users.

  • Synopsys, a leading American electronic design automation company on March 2022 launched their cloud optimized electronic design automation deployment model that offers chip and system design flexibility at unmatched levels with the help of a single source. The software provider’s cloud optimized design and verification tools will be available through Synopsys Cloud with pre-optimized infrastructure on ‘Microsoft Azure’, that will be capable of addressing complex concerns in chip development.
  • In August, 2022 Siemens announced its expansion of early design verification solutions for Calibre platform for verification of ICs. The extended technology in EDA space is aimed at providing users latest technologies required to quickly deliver world class silicon products.

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Segmentation of EDA Software Industry Research

  • By Type :
    • Simulation
    • Design
    • Verification
  • By Operating System :
    • Windows
    • MAC
    • Linux
    • Unix
  • By Source Code :
    • Open Source
    • Proprietary
      • Perpetual (One-time License)
      • Subscription
  • By Deployment :
    • Standalone
    • Web-based
  • By End Use :
    • Educational & Training
    • Professional
      • Aerospace & Defense
      • Automation and Robotics
      • Automotive
      • Discrete Manufacturing
      • Electrical and Electronics
      • Healthcare Devices
      • IT & Telecommunication
      • Semiconductor Industry
      • Others
  • By Region :
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

More Valuable Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the global electronic design automation software market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.

The study reveals essential insights on the basis of basis of type (simulation, design, verification), operating system (Windows, MAC, Linux, Unix), source code (open source, proprietary (perpetual (one-time license), subscription)), deployment (standalone, web-based), and end use (educational & training, professional, aerospace & defense, automation & robotics, automotive, discrete manufacturing, electrical & electronics, healthcare devices, IT & telecommunication, semiconductor industry, others), across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, MEA).

Check out more related studies published by Fact.MR Research:

Digital Marketing Software MarketThe global digital marketing software market is expected to value US$ 65 Bn in 2022 which is likely to reach US$ 370 Bn by 2032. The projected growth rate is 19% from 2022 to 2032. The expansion of the market can be attributed to the increasing preference for mobile phones to gain information on the go.

Data Extraction Software MarketStrong demand for advanced business intelligence tools and the shift towards artificial intelligence and machine learning technologies are the primary factors driving the growth of the data extraction software market. The growing need among organizations across industry verticals to gain valuable insights into the data generated from different business processes, technological advancements, and the use of cloud-based solutions is expected to drive the growth of the data extraction software market. 

Productivity Management Software MarketThe global productivity management software industry was valued at US$ 47 Bn in 2021, and is expected to increase at a steady CAGR rate of 13.7% during the forecast period. According to this growth rate, this industry can be projected to reach a market size of worth US$ 192.96 Bn by 2032.

Clientless Remote Support Software MarketThe global clientless remote support software market is estimated at USD 1.7 Billion in 2022 and is forecast to surpass USD 6.7 Billion by 2032, growing at a CAGR of 14.5% from 2022 to 2032. The global clientless remote support software market accounted for ~1% of the global ICT market in 2021. The global clientless remote support software market is estimated to have an absolute $ opportunity of USD 5.0 Billion during the forecast years of 2022-2032.

Public Safety Software MarketThe global public safety software market reached a valuation of around US$ 7 Bn in 2020, and is slated to rise at a CAGR of 11% to top US$ 20 Bn by 2031. Demand for computer-aided dispatch solutions is set to increase at a CAGR of 9% across the assessment period of 2021 to 2031. As per detailed industry analysis, by 2031, worldwide sales of public safety software will account for 2.1% share of the overall software market.

About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories. We are committed to deliver insights that help businesses gain deeper understanding of their target markets. We understand that making sense of the vast labyrinth of data can be overwhelming for businesses. That’s why focus on offering insights that can actually make a difference to bottom-lines.

Specialties: Competition Tracking, Customized Research, Syndicated Research, Investment Research, Social Media Research, Business Intelligence, Industry Analysis, Thought Leadership.

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GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

HONOR Unveils Four-Layer AI Architecture and Forges Ahead with Google Cloud for More AI Experiences at VivaTech 2024

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Experience AI-powered Studio-level Portrait Photography on the New HONOR 200 Series  
PARIS, May 22, 2024 /PRNewswire/ — Global technology brand HONOR has made its debut today at VivaTech, one of Europe’s largest tech and innovation events. During its keynote, HONOR showcased its innovative approach to on-device AI and unveiled its pioneering Four-layered AI Strategy. HONOR also announced upcoming Gen-AI experiences with Google Cloud, which are set to be featured on its anticipated smartphones, opening up exciting possibilities for enhancing user experiences.

“At HONOR, we firmly believe that, by combining the power of on-device AI’s personalization, intuitiveness, and privacy protection, everyone can unlock the full potential of AI safely and securely,” said George Zhao, CEO of HONOR Device Co., Ltd. “We are also delighted to forge ahead with Google Cloud, leveraging our combined expertise to unlock the potential of this hybrid approach and deliver even more seamless AI experiences to our users.”
Introducing HONOR’s Four-Layer AI Architecture
During the keynote, HONOR unveiled its Four-Layer AI Architecture and demonstrated its strategic focus on integrating AI into MagicOS. This Four-Layer Architecture comprises distinct layers. At the base layer, Cross-device and Cross-OS AI form the foundation of an open ecosystem, which allows the sharing of computing power and services among devices and operating systems. Building upon this foundation, the Platform-level AI layer enables a personalized operating system, allowing intent-based human-computer interaction and personalized resource allocation. At the third layer, App-level AI is poised to introduce a wave of innovative, generative AI applications that will revolutionize user experiences. Lastly, at the top, the Interface to Cloud-AI services layer provides users with easy access to massive cloud services while prioritizing privacy protection, creating a truly holistic and future-forward AI experience.
As part of MagicOS 8.0, Magic Portal is the industry’s first intent-based UI, which understands user behavior and streamlines complex tasks into single-step processes. Currently, Magic Portal supports 100 top applications across seven scenarios, including travel, productivity, messaging, search, entertainment, shopping, and social media, with plans to expand usage scenarios to provide even more seamless and intelligent AI experiences in the future.
As part of HONOR’s Four-Layer Architecture, HONOR is set to integrate cutting-edge Gen-AI experiences, powered by Google Cloud, into its upcoming smartphones, promising to deliver a new level of intelligence and innovation to users with enhanced privacy protection.
Revolutionizing Portrait Experience with HONOR 200 Series
Following the successful launch of AI Motion Sensing Capture, a cutting-edge feature that leverages AI to automatically capture fast-moving actions, HONOR also announced that the upcoming HONOR 200 Series will take mobile photography to new heights with an all-new AI-enhanced Portrait experience.
The HONOR 200 Series is poised to revolutionize portrait photography by bringing the mastery of Studio Harcourt, a legendary French photography studio known for its expertise in capturing classic portrait shots with iconic figures, to every step of the process, leveraging AI technology to recreate the iconic studio’s legendary lighting and shadow effects.
By using AI to learn from a vast dataset of Studio Harcourt portraits, the HONOR 200 Series has successfully broken down the entire portrait photography process into nine distinct steps, and perfectly replicates the full Studio Harcourt method, ensuring flawless and studio-quality portraits with every shot.
The HONOR 200 Series is set to launch in Paris on June 12, powered by MagicOS 8.0, further solidifying HONOR’s commitment to democratizing AI technology. In a move to make AI more accessible to a wider audience, HONOR also announced plans to roll out MagicOS 8.0 to its HONOR Magic V2 and HONOR 90 devices, empowering more users to experience the transformative power of AI.
The Human-AI Synergy: Smart Devices for a Better Future
At the event, HONOR also hosted an insightful panel discussion featuring esteemed industry expert Dr. Justine Cassell. The discussion delved into the future of multimodal interaction, highlighting how this integration enhances convenience and privacy protection for device users.
“On-device AI can better empower individuals,” emphasized George. “The on-device offers personalized recommendations while safeguarding user privacy by keeping data on the device. For instance, HONOR’s Magic Portal design ensures users retain control over service selection and decision-making.”
In terms of multimodal interaction, Dr. Justine Cassell noted, “Humans live multimodally. The rise of on-body devices like rings, and pins, alongside powerful smartphones, shows growing comfort with AI integrating verbal language, and nonverbal cues like gestures and facial expressions. This predicts the adoption of multimodally-sensitive AI on phones.”
“Human-centric is HONOR’s design philosophy, with human at the center of all devices,” George envisioned. “Empowered by AI, cross-device integration can combine the unique advantages of different devices in the future. Rather than learning user behaviors in isolation on each device, this approach allows for macro-level, unified user intent recognition, offering tailored recommendations and suggestions.”
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Artificial Intelligence

Borderless AI Appoints Former Chime HR Executive Beth Steinberg to Board of Advisors to Build on Global HR Expertise

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Steinberg’s decades of experience driving strategies for corporate talent and people management will strengthen the company’s market position and enhance its impact on the global human resources space
TORONTO, May 22, 2024 /PRNewswire/ — Borderless AI, the AI-powered startup revolutionizing the Employer of Record (EOR) industry, has appointed Beth Steinberg, former Chief People Officer at Chime, to its Board of Advisors to leverage her deep understanding of the unique needs of human resources teams to build successful global HR programs.

Following Borderless AI’s $27M seed funding in March 2024, Steinberg’s appointment furthers the company’s focus on harnessing the vast capabilities of generative AI to automate and accelerate the processes of onboarding, managing, and paying international team members.  Borderless AI’s novel AI agent Alberni, is the first of its kind specifically created to perform complex and time-consuming HR tasks, such as automating the process of generating global employment agreements or onboarding new global employees, all within minutes by leveraging conversational AI. Steinberg’s appointment underscores the need for advanced technology to propel innovation in the HR category and the company’s commitment to advancing the work of people management and HR teams.
“Having an acute sense of the HR industry is critical to ensure we are providing products and services to our customers that drive real value and impact,” said Willson Cross, co-founder and CEO of Borderless AI. “Beth brings vast expertise and understanding of the nuances of the human resources category, and her leadership experience and passion for innovation will help Borderless AI equip organizations with the tools and information they need to scale globally and deliver results for their people.”
Steinberg most recently held the position of Chief People Officer of  Chime, where she currently serves in an advisory role. During her time as Chime’s Chief People Officer, Steinberg led the company’s human resources strategy, building purposeful programs to drive HR efforts and people and team growth across the organization.
“I am excited to join the advisory board of Borderless AI, a company whose mission aligns with my belief that talent should be borderless,” said Steinberg, Board of Advisors, Borderless AI. “The company’s all-in-one platform allows businesses to focus on growth while tapping into the world’s talent pool, simplifying global HR processes. By harnessing this innovative technology, Borderless AI is breaking down barriers and empowering companies to build diverse, high-performing teams. I look forward to being part of this transformative journey.”
Steinberg joins Borderless AI as a tenured HR expert, with over 30 years of experience holding leadership and advisory roles in the human resources field.  In addition to her role as Chime’s CPO, she has led human resources teams at various companies including Meta, Nike, Electronic Arts, and Nordstrom, driving change and impact on an individual and company level.
A committed member of the  HR community at large, Steinberg will continue to advise numerous other companies, including freelance and talent management platform Contra, and VC firm Felicis,  in addition to her role on Borderless AI’s Board of Advisors. She also holds an acting role at Mensch Ventures, the People and Talent advisory firm she founded in 2016, and has served for over 10 years as a company sponsor and mentor in the TechWomen program, helping to empower young women around the world to build careers in STEM.
Steinberg is joining the Board of Advisors alongside recent appointee Leonard Shen, a former Visa and PayPal executive, who is advising the company’s growth in the compliance arena. Together, Steinberg and Shen bring expertise in pivotal functions to further Borderless AI’s market position and advancement in the EOR space.
For more information on Borderless AI, visit hireborderless.ai. You can also try out Alberni for free here.
About Borderless AIBorderless AI is a global payroll solution that leverages the power of generative AI to automate and speed up the process of onboarding, managing, and paying international team members. With Borderless AI, businesses can compliantly hire and manage talent worldwide without establishing a foreign entity while alleviating the complexities and risks associated with hiring global employees. With a focus on innovation and customer service, Borderless AI developed Alberni, the world’s first AI agent for global HR. Alberni uses conversational AI to simplify global employment tasks from contract creation to expense management. The company is headquartered in Toronto, Canada, and has raised $27 million in seed funding to date, backed by Susquehanna and Aglaé Ventures.
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Artificial Intelligence

Peloton delivers Platform v2 with enhanced security, mobility, and speed, powering business solutions for the world’s energy enterprises

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CALGARY, AB, May 22, 2024 /PRNewswire/ — Peloton Computer Enterprises Ltd. — the global standard for energy data management is proud to announce the release of Platform v2. The Peloton Platform delivers a cohesive experience for traditionally siloed operations, hosting solutions encompassing Well Data Lifecycle, Production Data Lifecycle and Land Data Management. The Platform is designed to manage your assets by providing efficiencies for removing disparate processes and data redundancy. Peloton Platform maximizes security, leverages mobility, accelerates data input, and enables real-time, data driven decisions for energy clients. Learn how you can GET IT ALL, and get it today at https://www.peloton.com/get-it-all-lp.

 
Security: Peloton’s best in class security includes our 24/7 security team and SOC1/2 compliance embedded within the Peloton Platform. With superior security measures and dedicated platform monitoring, Peloton ensures data integrity and reliability, backed by global, redundant data centers to minimize the risk, and offer material cost savings compared to on-premises solutions.Mobility: The Platform offers industry leading mobility, allowing customers to access and manage critical operational data anytime, anywhere. With intuitive mobile apps and fast, local data centers, Peloton empowers users with seamless accessibility and enhanced productivity.Integration: The Peloton Platform provides data integration across all three solutions (Well Data Lifecycle, Production Data Lifecycle, and Land Data Management) creating a unified ecosystem for the data management of your assets. Plus, ETL/Web API processes empower organizations to seamlessly manage integrations to third party databases and applications. By centralizing these functions, Platform clients benefit from saving countless hours of manual data entry and significant costs associated with rework from relying on disparate or out of date information. The Platform delivers stakeholder data trust and peak data efficiency, ensuring better decision-making and resource optimization across organizational silos.Faster Data Input: Peloton’s Well Data Lifecycle, Production Data Lifecycle and Land Data Management solutions on the Peloton Platform, revolutionize data input workflows by automating processes and reducing manual entry. With a suite of direct integrations, import tools, automated data synthesis from sensor and contextual data points, our solutions accelerate data entry and enhance accuracy, enabling users to focus on critical tasks without the burden of tedious data input.Real-time: The Peloton Platform offers real-time data ingestion and visualization in cloud storage solutions, providing clients with instant access to critical data during and after operations. With ultra-low latency connections and standardized data delivery, Peloton empowers clients with actionable insights for efficient decision-making using current information.”Organizational data silos and data redundancy breed frustration and erode trust in your operations. Too many organizations are still relying on disparate processes and custom solutions preventing a single source of truth and hampering their abilities to do more with less effort”, said Adil Walji, Peloton CTO.
About Peloton: Peloton is a leading provider of innovative technology solutions for the energy industry, offering solutions to optimize operations and enhance productivity. With a focus on security, mobility, integration, and real-time monitoring, Peloton powers energy clients to thrive in an ever-evolving landscape. For more information, visit https://www.peloton.com/get-it-all-lp.
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