At 12.8% CAGR, North America Photonic Design Automation Market is Projected to be Worth US$ 1,504.05 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America photonic design automation market was valued at US$ 572.79 million in 2022 and is expected to reach US$ 1,504.05 million by 2030, registering a CAGR of 12.8% from 2022 to 2030. Growing demand for automation and increasing need for efficiency and accuracy are among the critical factors attributed to the North America photonic design automation market expansion.

Automation enables efficient and streamlined design processes, leading to improved productivity and reduced time-to-market. The field of photonic design automation is experiencing a rise in demand owing to the increasing need for automation across various industries, including manufacturing. This increasing demand for automation is a key driver for the North America photonic design automation market. Automation plays a crucial role in enabling more efficient and streamlined design processes within the field of photonics. By automating certain aspects of the design workflow, such as layout generation, component placement, and optimization, designers can significantly enhance their productivity and reduce the time it takes to bring new photonic products to market. The benefits of automation in photonic design are manifold. It allows designers to explore a wider design space and quickly iterate through different design options, leading to improved performance and higher-quality designs. Automation also helps reduce human errors and ensures consistency in the design process, resulting in more reliable and robust photonic devices.

Furthermore, automation in photonic design enables designers to leverage advanced algorithms and optimization techniques to achieve optimal designs. By automating the design optimization process, designers can maximize the performance, efficiency, and manufacturability of photonic devices, ultimately leading to improved product quality and customer satisfaction. For instance, according to a report published by Salesforce in June 2022, there has been a significant surge in the demand for automation among business teams in more than 90% of organizations. This increase in demand has been observed over the past two years, highlighting a growing recognition of the benefits and value that automation can bring to businesses across various industries. The report sheds light on the rising trend of organizations seeking to streamline their processes, improve efficiency, and optimize productivity by adopting automation technologies. This data underscores the growing importance of automation as a strategic tool for organizations looking to stay driven and meet the evolving needs of their customers and stakeholders.

On the contrary, lack of awareness regarding benefits and capabilities of photonic design automation hampers the growth of North America photonic design automation market.

Based on component, the North America photonic design automation market is bifurcated into solution and service. The solution segment held 78.1% share of the North America photonic design automation market in 2022, amassing US$ 447.45 million. It is projected to garner US$ 1,197.08 million by 2030 to expand at 13.1% CAGR during 2022-2030.

In terms of deployment, the North America photonic design automation market is bifurcated into on-premise and cloud. The on-premise segment held 89.2% share of the North America photonic design automation market in 2022, amassing US$ 510.83 million. It is estimated to garner US$ 1,307.41 million by 2030 to expand at 12.5% CAGR during 2022-2030.

By organization size, the North America photonic design automation market is bifurcated into SMEs and large enterprises. The large enterprises segment held 78.7% share of North America photonic design automation market in 2022, amassing US$ 450.69 million. It is predicted to garner US$ 1,170.39 million by 2030 to expand at 12.7% CAGR during 2022-2030.

In terms of application, the North America photonic design automation market is bifurcated into academic research and industrial research & manufacturing. The industrial research & manufacturing segment held 86.5% share of the North America photonic design automation market in 2022, amassing US$ 495.68 million. It is estimated to garner US$ 1,285.30 million by 2030 to expand at 12.6% CAGR during 2022-2030.

Based on country, the North America photonic design automation market is categorized into the US and Canada. The US held 93.2% share of North America photonic design automation market in 2022, amassing US$ 534.01 million. It is projected to garner US$ 1,407.04 million by 2030 to expand at 12.9% CAGR during 2022-2030.

Key players operating in the North America photonic design automation market are Ansys Inc, VPIphotonics GmbH, Optiwave Systems Inc, Luceda Photonics, Cadence Design Systems Inc, Siemens AG, Synopsys Inc, AIM Photonics Inc, and SystemLab Inc., among others.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com