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The PCB design software market is expected to grow at a CAGR of around 26% from 2018 to 2023 to reach $4 billion by the end of the forecast period, according to a new report by analyst firm Market Research Future (MRFR).
At present, North America is dominating the PCB design software market due to the increased investments R&D. The U.S. has seen tremendous growth in the semiconductor industry and is anticipated to attain more growth during the forecast period.
The European PCB design software market is estimated to grow due to the investments from automotive companies to adopt the software.
Meanwhile, the market in Asia Pacific is expected to attain the highest growth during the forecast period due to various government initiatives in India and strong enterprise investments in China. The increasing adoption of automation and enormous opportunities across industries in the APAC countries is fueling the advancement in the PCB design software market, according to the report.