3 Electronic Design Automation Stocks to Buy Right Now
StockNews
Published May 05, 2021 02:32PM ET
Updated May 05, 2021 03:30PM ET
3 Electronic Design Automation Stocks to Buy Right Now
The demand for electronic design automation (EDA) software is expected to increase. Given this, it could be beneficial to bet on EDA companies Synopsys (NASDAQ:SNPS), Cadence (CDNS), and Keysight (KEYS) because they have considerable market dominance and are expected to gain in the near-term. Let’s discuss.With the growing adoption of advanced electronic devices worldwide, the demand for electronic design automation (EDA) software has increased greatly because it facilitates precision in integrated circuit (IC) designs. According to a report by Million Insights, the global EDA software market size is expected to hit $14.54 billion by 2025, growing at an 8.9% CAGR.
EDA software solutions are used in various electronic devices, including smartphones, smart watches and tablets. Also, major breakthroughs in cloud computing, Internet of Things (IoT) technologies and artificial intelligence (AI) should further increase the demand for EDA software.
So, with that, we think it wise to bet now on established EDA companies Synopsys, Inc. (SNPS), Cadence Design Systems, Inc. (NASDAQ:CDNS), and Keysight Technologies , Inc. (NYSE:KEYS).
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