ID: MRFR/ICT/8828-CR | November 2020 | Region: Global | 141 pages
The Electrical and Electronic Computer-Aided Design Market is expected to expand at 8.62% CAGR over the forecast period (2020-2030).Electrical and Electronics Computer-Aided Design is simulation software used by component designers. The physical design, appearance, structure, color, and other characteristics of products related to several sectors can be designed using the software. The design engineers in the automotive industry, and other industries like Oil & Gas, Aerospace & Defense, Equipment & Machinery, and Power Generation & Energy design the essential instruments. The ECAD software solutions enable the electrical engineer to convey the requirements to the Mechanical engineer who works on the designs to manufacture the circuit. The ECAD software solutions offer accuracy and enhance the efficiency of the product.
The primary reason for the installation of the Electrical and Electronic Computer-aided Design is to reduce human errors and accelerate the planning and other stages of the construction. The increasing adaptation of the Electronic design automation tools in the manufacturing, automotive, and other sectors have increased the efficiency of the electrical equipment. Such factors have hugely impacted the Electrical & Electronic Computer-Aided Design Market value in manufacturing industries.
COVID 19 Analysis:
The Pandemic has imposed a serious economic shock over several industrial sectors. To get out of the economic condition, the industries have been seriously involved in business continuity plans. They have introduced the work-from-home culture to their employees. Several industries have provided facilities required for the work environment. These factors have facilitated favorable conditions for semiconductor design manufacturers and electrical circuit designers. Additionally, the high-speed internet facility at affordable rates and cloud-based Electrical Computer-aided design protocols has increased the demand for the Electrical & Electronic Computer-Aided Design Market demand.
Although several industries are currently reduced their production rate owing to the pandemic and restrictions imposed by the government, the electrical and electronic designers have amplified their processes without any disruption. The advancements in the protocol and novel innovations in the sector have fueled the growth in the Electrical & Electronic Computer-Aided Design market demand.
The numerous advantages that come along with the Electrical & Electronic Computer-Aided Design software solution have impacted the overall growth of the Electrical & Electronic Computer-Aided Design industry. The features like increased productivity and cutting down of costs and time while maintaining reliability are some of the features that attract the engineers who design the circuit's electrical equipment. These features increase the overall business growth.
The advent of Cloud-Based Electrical & Electronic Computer-Aided Design tools has eliminated the time-consuming, faulty tools and have also are easier for deploying them in the industry. The Electrical & Electronic Computer-Aided Design software also takes control over the smaller and repetitive tasks, thereby reducing the time taken for designing the equipment. Such factors have fueled the growth of the Electrical & Electronic Computer-Aided Design industry.
The number of electrical and electronic tasks in various industrial sectors has increased. The automation technologies and increased industrial developments have also offered sufficient opportunities for the Electrical & Electronic Computer-Aided Design market to grow. The demand for the Electrical & Electronic Computer-Aided Design market has increased in the rail signaling sectors due to the immense usage. There are several tasks involved in rail signaling which involves Electrical & Electronic Computer-Aided Design software solutions such as wiring schematics, automated plans, and documentation, virtual wiring, individual design and positioning of copper bars, interlocking.
The wide variety of end-user applications of the Electrical & Electronic Computer-Aided design industry has increased the market value. The water-treatment industry is currently utilizing the Electrical & Electronic Computer-Aided Design software to perform the electrical work in the water treatment plants. To operate the water treatment plant with optimal energy at reduced costs, the design and infrastructure should correlate with the design. Since the water treatment industry is growing tremendously in recent times due to environmental issues like water scarcity and increased industrialization. This growth has positively affected the growth of the Electrical & Electronic Computer-Aided Design market value.
The piracy of the Electrical & Electronic computer-Aided Design software has imposed a serious limitation on the growth of the Electrical & Electronic Computer-Aided Design industry. The advent of cheaper and duplicate products lacks customization and proper customer service after installation. This factor is currently hampering the Electrical & Electronic Computer-Aided Design market growth.
The designing industry comprises the designing software and the analysis tools which generate the models and other modules of the operation. The process of moving basic design (data) from the Electrical & Electronic Computer-Aided Design software to the analytical tools presents drawbacks such as incompatibility. If the Analytical tools possess less sophistication than the software solution, it becomes difficult to integrate the two programs. To combat the challenge the integration of analytical tools is carried out which limits the efficiency. Hence this affects the overall efficiency of the Electrical & Electronic Computer-Aided Design software.
The requirement of higher storage space is the huge challenge faced by the Electrical & Electronic Computer-Aided Design software. At the beginning stages, the designing process doesn't require much space, however as the project design grows more complex, higher storage space is required for the ECAD programs to run efficiently. The designers with higher performance systems would not view this as a major drawback. For users with limited performance systems, storage can be a challenge during the designing process.
Software crashes are also considered a major challenge in the Electrical & Electronic Computer-Aided Design market. Software crashes could corrupt the existing data which could lead to heavy loss at the business. The difficulty in recovering the data also imposes an additional challenge on the Electrical & Electronic Computer-Aided Design market growth.
Cumulative Growth Analysis:
The Electrical & Electronic Computer-Aided Design market is currently growing steadily despite lockdowns and production disruptions in various sectors. Since the industries have adopted the work from home culture to continue the essential business processes, there has been a very minimal effect on the Electrical & Electronic Computer-Aided Design market. Since by incorporating Electrical & Electronic Computer-Aided Design, the professionals can limit human errors and adhere to the schematics processed by the software. The utilization of the product quickens the phases of development and can drive the market. Currently, Global Electrical and Electronic Computer-Aided Design (ECAD) Market is expected to expand at 8.5% CAGR over the forecast period (2020-2026).The stand-alone and easy to deploy electrical designing tool enables efficiency for even complex electrical systems. The Electrical & Electronic Computer-Aided Design is primarily used for automated tasks like managing connection lists, wire numbering, permitting the electrical standards while the design is carried out. Such factors have increased the demand for the Electrical & Electronic Computer-Aided Design market growth.
Value Chain Analysis:
Electrical & Electronic Computer-Aided Design enables the users to carry out the designing process at ease. It also allows multiple users to utilize the tool while maintaining supreme efficiency even in complex electrical systems. The designing circuits with the help of the Electrical& Electronic Computer-Aided Design software assist the engineers in creating the schematic designs at a rapid pace when compared to the traditional methods while attaining supreme precision and accuracy. This will have a great impact on the overall infrastructure of the electrical or electronic systems and increases the overall business growth.
The advent of cloud-based Electrical& Electronic Computer-Aided Design software helps in processing a huge amount of data. The deployment of the Electrical& Electronic Computer-Aided Design software is easier but comes with different packages, fewer functionalities costs cheaper and the software solution with precise and additional functionalities are costlier. Hence the enterprises can choose from a wide variety of software solutions available in the market according to their budget and necessities. Electrical & Electronic Computer-Aided Design is immensely utilized in the automotive industry which helps in calculating the wind drag on the new car designs before manufacturing the parts. The Micro-electronics utilize the Electrical- Electronic Computer-Aided Design industry to design the devices, as the hardware is smaller, enhanced precision is expected in such sectors. Such factors have bolstered the growth of the Electrical & Electronic Computer-Aided Design market value.
Based on Component:
Based on Industry Type:
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Based on Vertical:
North America is showcasing higher demand for the Electrical & Electronic Computer-Aided Design market. The region possesses surging demand for the manufacturing of automotive sectors, NVH simulation, showcasing higher emphasis on the target deadlines, and manufacturing of discrete parts and equipment. Such factors have increased the Electrical & Electronic Computer-Aided Design market value in the region.
Europe is expected to hold the second-largest market share. The advances in the cloud-based Electrical & electronic Computer-Aided Design software solutions and tools available at an affordable range have increased the Electrical& electronic Computer-Aided Design market value in the region. The collaborations of the key players existing in the region have helped the startups to adopt and further develop the ECAD tools according to their preferences.
The product lifestyle management suite has been developed recently which comes along the help guidelines to assist the engineers and bring out the suitable designs for their equipment.
The cutting-edge technology and cloud-based technology have increased the value of the existing ECAD tools. Also, the 3D printers being used for the construction department helps the builders to construct the apartment blocks before investing. Such trends have been helping in building residential units in highly populated areas.
This report has covered:
|Market Size||2030: USD 2.87 Billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Component, By Industry Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Zuken (Japan), Aucotec AG (Germany), WSCAD (Germany), MENTOR GRAPHICS (US), Autodesk Inc. (US), Sienna Ecad Technologies (India), Dassault Systèmes SE (France), TRIMBLE INC. (US), Hexagon AB (Sweden), IGE+XAO Group (France), Siemens AG (Germany), Eplan Software & Service Gmbh & Co. KG (Germany), Bentley Systems, Inc.(US), ALPI International Software SA (France), and Cadence Design System Inc. (US).|
|Key Market Opportunities||Smart metering and establishment of smart grids are opportunities for players to expand their reach in the market.|
|Key Market Drivers||Creation of electrical schematic designs and automated filling of lists and bill of materials is the major driver of the ECAD design market.|
Frequently Asked Questions (FAQ) :
Creation of electrical schematic designs and automated filling of lists and bill of materials is the major driver of the ECAD design market.
Smart metering and establishment of smart grids are opportunities for players to expand their reach in the market.
The global ECAD design market is predicted to expand at 8.62% CAGR from 2020 to 2030.
Industrial machine controls can gain the lead in the market.
North America can lead in the global ECAD design market.
TRIMBLE INC., IGE+XAO Group, Siemens AG, Sienna Ecad Technologies, Autodesk Inc., Hexagon AB, MENTOR GRAPHICS, Bentley Systems, Inc., WSCAD, Cadence Design System Inc., Aucotec AG, Eplan Software & Service Gmbh & Co. KG, ALPI International Software SA, Dassault Systèmes SE, and Zuken are the vendors of the market.