February 25, 2024
PCB Design Software Market

The PCB Design Software Market Is Estimated To Witness High Growth Owing To Increasing Demand For PCB Prototyping Solutions

The PCB design software market comprises design and layout tools used for printed circuit board (PCB) development. PCBs find extensive applications across various industries such as consumer electronics, automotive, healthcare, telecommunications, and aerospace & defense among others. PCB design software offers numerous advantages over traditional physical prototyping such as reduced development time and costs, improved design flexibility and collaboration, easier design changes, and prevention of design defects. With the growing demand for sophisticated PCB prototyping solutions, the use of PCB design software is increasing significantly.

The Global PCB design software market is estimated to be valued at US$ 4.61 Bn in 2024 and is expected to exhibit a CAGR of 9.8% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the PCB design software market are Chattanooga International, Humares, Prime Pacific Health, Herrmann Apparatebau, Transcom, CleanColon Italy, Prometheus Group, Shenzhen Lifotronic Technology, PPHIC, Comba UK, Enteromed Group, Lifotronic, Dotolo Research, TECNO-GAZ.

The rising demand for advanced PCBs from emerging applications such as Internet of Things (IoT), wearable devices, autonomous vehicles isexpected to create new growth opportunities for players in the PCB design software market. Additionally, the market players are focusing on development of cloud-based PCB design tools to further drive the market growth.

Major players in the PCB design software market are focusing on expanding their geographical reach through partnerships and mergers & acquisitions especially in fast growing regions such as Asia Pacific and Middle East & Africa. For instance, in 2022, Chattanooga International partnered with PPHIC to leverage PPHIC’s distribution network across Southeast Asia.

Market Drivers

The primary driver boosting the PCB Design Software Market is the increasing complexity of PCB designs owing to continued miniaturization of components and devices. Advanced PCB design software helps designers easily handle high component density circuits and accommodated different form factors. Additionally, growing demand for multi-layer PCBs from various industries is also driving the need for sophisticated PCB design solutions.
Political: PCB design software market is influenced by various government regulations and policies regarding intellectual property rights and technology innovations. Regulations around electronic waste and product certifications also impact the adoption of these solutions.

Economic: Growth in the electronics industry and demand for miniaturized electronic products positively influence this market. Rising digitization trends and advancements in nanotechnology also drive market growth. However, volatility in raw material prices poses challenges.

Social: Increasing preference for technologically advanced electronic products and focus on innovating product design propels the adoption of PCB design solutions. Wireless connectivity and mobility trends increase complexity in PCB designs and boost market demand.

Technological: Advancements in nanotechnology, IoT, VR/AR, and artificial intelligence are introducing new complexities in circuit board designs. Adoption of cloud-based services and CAD/CAM solutions improves design flexibility and collaboration. Focus on miniaturization of devices also pushes technology innovations in this space.

Geographically, Asia Pacific dominates the PCB Design Software Market Growth in terms of value. Presence of major electronics hubs and growing electronics production in countries like China, Taiwan, South Korea, and Japan drives large demand. North America is another major regional market supported by high technology adoption and presence of leading design software providers.

The fastest growing regional market for PCB design software is expected to be Latin America. Rising electronics exports from Mexico and adoption of advanced technologies throughout the region is supporting the growth. Government initiatives to attract electronics investments also promote market expansion

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