June 25, 2024
PCB Design Software Market
Ict

The Rapidly Digitizing Electronics Industry IS Driving Growth IN THE Pcb Design Software Market

The printed circuit board (PCB) design software market consists of computer-aided design tools that aid in planning, drafting, and routing electronic circuit boards. PCB design software allows electronics engineers to lay out integrated circuits, connectors, and other electronic components on circuit boards and print out a template for manufacturing. PCB design software plays a crucial role in supporting rapid prototyping, automated manufacturing, and reducing PCB assembly costs. The global electronics industry is witnessing exponential growth driven by rising consumer spending on smartphones, automobiles, industrial equipment, and IoT devices. This is fueling the demand for sophisticated PCBs and subsequent need for PCB design software among electronics manufacturers.

The Global PCB Design Software Market is estimated to be valued at US$ 4.61 Billion in 2024 and is expected to exhibit a CAGR of 9.8% over the forecast period from 2024 to 2030.

Key Takeaways

Key players operating in the PCB Design Software are Chattanooga International, Humares , Prime Pacific Health , Herrmann Apparatebau, Transcom, CleanColon Italy, Prometheus Group, Shenzhen Lifotronic Technology, PPHIC, Comba UK.

The market is witnessing growing demand driven by the booming electronics manufacturing sector across industries. Mass production of PCBs is driving electronics manufacturers to adopt software for automating PCB design processes. Furthermore, ongoing miniaturization trends are presenting complex design challenges and fueling adoption of advanced PCB design software.

Major software providers are also expanding their geographical footprint by establishing local offices and collaborating with regional electronics manufacturing clusters. The combination of rising electronics demand, design complexities, and global expansion strategies is expected to drive double-digit growth of the PCB design software market.

Market Key Trends

One of the major trends in the PCB Design Software Market is the integration of AI and machine learning capabilities. Leading vendors are enhancing their tools with features such as auto-routing, design rule checking, and component placement optimization using ML algorithms. This allows designers to automate routine tasks and focus on value-added work. AI-driven PCB design software can significantly improve productivity, reduce turnaround times, and facilitate collaboration across distributed teams. Their deployment is expected to accelerate over the forecast period and drive the digital transformation of the electronics manufacturing industry.

Porter’s Analysis

Threat of new entrants: Low level of threat since software design requires expertise and existing players enjoy advantages of experience and knowledge. Bargaining power of buyers: Moderate as standardised products are available from multiple players and customers can negotiate on price and features. Bargaining power of suppliers: Low as raw materials required for design software development process are commonly available. Threat of new substitutes: Low as there are few alternatives available for professional PCB design software. Competitive rivalry: High as the market is consolidated with presence of major global players competing intensely on pricing and innovation.

Geographical Regions

North America holds the dominant share currently in terms of value owing to presence of major PCB Design Software Market Demand companies and design houses. Heavy investment in R&D by players also supports regional growth.

Asia Pacific is identified as the fastest growing regional market for PCB design software. Rapid industrialisation and growing electronic manufacturing industry in China, India, South Korea and other Asian countries is driving increased adoption of advanced PCB design and development solutions in the region. Growing electronics and semiconductor industries have accelerated software purchases over the recent past.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it