Text | Tang Xiaoyuan, Zhao Han
Total text: 8605 words
Estimated reading time: 6 minutes
At first glance, we don’t seem to be strong in the field of EDA (electronic design automation). The combined market value of the top three domestic companies is less than one-tenth of that of the top American company.
A closer look reveals that they are indeed average. Most of them can only do "tool" work and cannot have full-process technology like their American counterparts. Some domestic customers said, "You can't let our downstream connect with dozens of upstream companies for domestic substitution, right?"
These statements are all correct. But in a larger context, we are absolutely optimistic about the future of this field. This is why we wrote this article 👇
This niche field is not too popular at present.But it hasn't reached its most exciting point yet.
It is only a matter of time before China wins this "narrow gate of chips".
The remote battlefield of China's chips
For major countries,“Make or Buy”It has always been a classic multiple-choice question.
Just like multi-directional signboards inserted at different intersections, they test the comprehensive judgment of travelers.
Forty years ago, China was now the world leader inWind Tunnel TechnologyI almost failed at this fork in the road. A wind tunnel is a wind tunnel laboratory that simulates the airflow around airplanes and cars through artificial airflow. The reason I was inclined to "buy" at that time was:"Cheap"。
"A wind tunnel is worth a fortune." It is a well-known power consumer, which made the Chinese power industry, which was often cut off from time to time, even worse. In comparison, the cost of purchasing foreign software and using computers to simulate airflow conditions is much lower than building a wind tunnel. Even the relevant tests of the Boeing 777 in the United States can be completed by 3D computer-aided design (CAD).
Finally, with Qian Xuesen's insistence, the Chinese wind tunnel was completely preserved. Qian Xuesen's solution was that China's wind tunnel should be preserved, and China's computer and software technology should also be developed.
This far-sighted persistence has brought at least two benefits today. First, without our own wind tunnel technology, several of our high-end industries would not be able to develop - from missiles and hypersonic aircraft to domestically produced large aircraft in the civilian field.C919, Chinese cars, all benefit from their own wind tunnel technology. Some new designs are still based on wind tunnels, which are difficult to simulate with software, such as waverider aircraft.
A short video released by CCTV, with the words "JF-22 Shock Wave Wind Tunnel" marked in the upper right corner of the screen.
Second, it leaves a "back door" for the bottleneck risks in my country's industrial software.
One of the biggest shortcomings of China's industry today is industrial software. Ni Guangnan, an academician of the Chinese Academy of Engineering, once said that if the United States and the European Union banned the sale of industrial software to China,"Chinese aircraft and automobile manufacturers will have to go back to the wind tunnel again."
Four major categories of industrial software:
●Research and DevelopmentdesignSoftware (CAD/CAM/CAE/EDA/PLM)
●ManufacturingSoftware (PLC/DCS/SCADA/MES)
●throughcampManagement software (ERP/SCM)
●Maintenance and Operation Service Software (MRO)
Industrial software for different fields varies greatly and cannot be generalized. In general, the current situation in my country is "strong in business management software and weak in design and development software."The most serious bottleneck is R&D and design software (CAD/CAM/CAE/EDA/PLM).
Among them, the most backward is the R&D design category for integrated circuit design.EDA。
As a large-scale industrial tool that uses computers to assist in the design, manufacturing, packaging and testing of integrated circuit chips, EDA runs through almost every link in the integrated circuit industry chain.Restraining the development of EDA is equivalent to strangling the development of the chip industry.
At first glance, the combat effectiveness of Chinese EDA companies is average.
Market valueAs of April 7, Cadence’s total market value was approximately $83.9 billion. Synopsy’s total market value was approximately $87.781 billion.
In contrast, my country's three EDA musketeers, HuaDa JiuTian (301269.SZ) (total market value of RMB 44.429 billion as of April 3), GaiLun Electronics (688206.SH) (market value of RMB 6.737 billion as of April 3), Guangli Micro (301095.SZ) (market value of RMB 11.236 billion as of April 3) -Together, they are less than one-tenth of a leading American company.
Market share,The three American giants Cadence, Mentor (Siemens EDA), and Synopsys (Synopsys) dominate the global EDA70%The above market share. China's self-sufficiency rate in the EDA field has just exceeded10%The above three giants also account for more than 70% of the Chinese market.
Looking more closely, he is indeed not good at fighting alone.At present, most domestic EDA companies are still "point tool companies", while the three major EDA giants in the United States have full-process technology and full-process solutions, as shown in the figure below👇
With such a huge gap in strength, taking advantage of the fact that Synopsys' two major mergers and acquisitions this year have set off a wave of discussion on EDA in China, Starship Zhizao had a chat with EDA practitioners and downstream customers who use EDA.The points of complaint and pessimism are:
Some people say,I also want to use domestic software, but I don’t have the energy to connect with more than a dozen domestic EDA companies (because most of them are tool companies), so the market is still abroad.
Some people say,The EDA market is so small, and there are too many startups that have flocked in in recent years when it comes to breaking through the "bottleneck". Is it really necessary to be so competitive?
Some friends also said,The rise of the three major EDA companies in the United States was all through acquisitions and integration, with huge investments. (HuaDa JiuTian, Guangli Micro, and GaiLun Electronics) have been listed for several years. "Going public gives you money to do mergers and acquisitions. How come there hasn't been a successful merger and acquisition yet?"
Some people are also curious about what cloud computing can bring.Alibaba CloudIndustry partners.Tencent CloudJointly create EDA cloud services, etc.)
The above statements are all correct. But in a larger context,"Starship Knowledge Manufacturing" is absolutely optimistic about the future of domestic EDA.
Our optimism is based on three points:
first,EDA is software, but the last name is "work", it needs to be combined with a lot of applied science (engineering).Currently, the global EDA market is growing, but the fastest growing market must be China——Including the eight innovative industrial products recognized by my country at the national level in 2023👇
“C919 large aircraft, domestic mobile phones, new energy vehicles, domestic large cruise ships, Shenzhou spacecraft, Struggler extreme deep diving, lithium batteries, photovoltaic products”
Many of these have greatly boosted demand for semiconductors. China is already the world's largest semiconductor market.In the era of new quality productivityChina's huge downstream EDA market is still expanding, and will definitely form a good internal cycle between technology VS market, local industrial giants and local software companies.
We will expand on this below - looking at the world, China's EDA downstream market is large enough. Large enough to produce leading EDA companies like the Big Three in the United States. Everything is just a matter of time.
second,In the above process, there is one fact that no one can ignore: the highly globalized semiconductor industry is facing complex changes.To put it simply,Although most domestic EDA companies now have "point tools", it is a bit troublesome to use.But fortunately, his emotions are stable. What if the overseas giants become emotionally unstable again one day?
Several times overseas software giants were "emotionally unstable" 👇
●In 2018, Cadence cut off its EDA software supply to ZTE.
●After 2019, Huawei was cut off from EDA supply by Synopsys, Cadence, and Mentor;
●On August 15, 2022, the US ban on the supply of EDA-related software officially came into effect.
third,Combining the above two facts, we believe that the current domestic EDA is not too competitive, but has not yet reached its most competitive stage.
In the past two years, EDA seems to be gaining popularity. Head companies such as HuaDa JiuTian have also entered the public eye after going public. From the full process diagram we drew, we can see that almost all point tools are already made by domestic companies. However, at present, it will take time for technology upgrades and mergers and acquisitions. It is far from the time when the big waves will wash away the sand.Heroes EmergeWhen.
The rise of overseas giants: an integration route that cannot be replicated
For the Chinese EDA industry, it is not feasible to completely copy the M&A model of overseas giants.Since 2024 alone, Synopsys has announced two major acquisitions with the aim of further blocking the pace of latecomers catching up.●January 16, 2024, Synopsys announced the acquisition of Ansys, a leader in electronic product design simulation and analysis software.The transaction, valued at approximately $35 billion, combines Synopsys' leadership in semiconductor electronic design automation with Ansys' broad simulation and analysis expertise.●March 20, 2024Synopsys has completed its acquisition of Intrinsic ID, a leading provider of physically unclonable function (PUF) IP.With this acquisition, Synopsys strengthens its semiconductor IP portfolio while expanding its R&D team in Eindhoven, the Netherlands, and establishing a PUF Technology Center.The two acquisitions of Synopsys reflect an accelerating trend in the EDA field: buy, buy more. "Starship Zhizao" roughly sorted out the rise of the overseas EDA industry, which is a complete history of accelerated mergers and acquisitions👇The reason why we choose to start from the 1990s is that EDA companies have gradually formed today's oligopoly from small startups that conquered each other in the beginning.Behind this is the rapid development of integrated circuit technology since the 1980s and 1990s.——As a basic and key link in this huge industrial chain, EDA has always followed the development of the entire semiconductor industry.From the timeline, we can more clearly see the huge development time gap between us and Europe and the United States in the field of EDA.👇At the beginning,CAD (Computer-Aided Design) is the starting point of industrial design and is used to assist in drawing and modeling.1963, MIT developed the first true CAD software - "Sketchpad".China at the same time:ChinaThe research on "two bombs and one satellite" relied onPurely hand-drawn. The ellipse in the "Dongfanghong-1" satellite design was drawn by a Chinese engineer using a pen to poke a rope.●CAD (Computer-Assisted Design): covers a wide range of fields from architectural design to mechanical design.●CAE (Computer-Aided Engineering): It focuses more on solving practical engineering problems, such as electromagnetic simulation analysis and fluid force analysis, which are ultimately abstracted into mathematical equations. It can also be understood that the core of CAE lies in solving equations.●At this time, EDA mainly existed in the form of in-house EDA, with only a few commercial "EDA companies", such as Applicon, Calma, ComputerVision, etc., and the focus of these companies was still on mechanical CAD.Drawing of the "Dongfanghong-1" plan Source: China Academy of Space Technology1960s and 1970s: The chip transistor density is low and the entry rate of enterprises is low. Applicon, Calma and Computervision dominated the CAD/CAM market at that time.China at the same time: Since the 1970s, my country has begun to study the application of computers in the industrial field.1980s and 1990s:As semiconductor technology continues to evolve, EDA has gradually developed based on CAD and CAE. It focuses on the field of electronic design and transforms designers' ideas into reality on silicon wafers.Downstream applications and types have also increased significantly, giving rise to the rapid development of small and medium-sized fabless chip design companies. However, small and medium-sized manufacturers lack the resources to develop their own in-house EDA tools, thus generating a large demand for external commercial EDA.At this time, CAD and CAE cover a wider range of engineering design fields.Daisy Systems, Mentor Graphics and Valid Logic dominated the CAE market at the time.China:Looking back on this period of history, it is quite sad. During the Eighth Five-Year Plan (1991-1995), my country launched the "CAD Application Project" and achieved good results in independent software research and development. However, foreign industrial software soon entered the market, and the domestic industrial software, which had just taken its first steps, was powerless to resist:On the one hand, overseas industrial software products have certain performance advantages. On the other hand, foreign companies allowed pirated software to grab the market at first, and then they would strike back after companies got used to using pirated software. (CAD and CAE were the most pirated at that time.It can be said that the goal of squeezing out the market space for domestic software has been fully achieved).(Of course, the use of pirated copies is not encouraged).It's too late for people to react——Industrial software needs to be strongly integrated with applications. After conquering the market, foreign software obtains a large amount of production and R&D data from enterprises, iterates and upgrades its own products, and further deprives the competitiveness of China's industrial software, which has just emerged from its infancy. Software that loses the market cannot survive.Entering the 21st century:The oligopoly structure of the global EDA market has become clearer, with Synopsys, Cadence Design Systems, and Siemens EDA acquiring a large number of start-ups, including Forte, Jasper, Springsoft, EVE, Nimbic, etc.China:The production data brought by the huge domestic downstream market has further promoted the optimization and upgrading of foreign software, and the gap between China and foreign counterparts has further widened.It was not until recent years that domestic EDA began to catch up and a financing boom emerged. In 2020, Huawei's investment company Hubble Technology began investing in domestic EDA companies, including Hubei Jiutongfang Microelectronics, Wuxi Feipu Electronics and Shanghai Lixin Software.Against the backdrop of domestic substitution, some old domestic brands have begun to squeeze into the second tier of the EDA industry.Looking at the development history of EDA, the advantages of mergers and acquisitions are obvious.Because it meets the dual needs of market competition and technological innovation at the same time——As integrated circuit process nodes continue to shrink, technology R&D investment has increased dramatically. It is difficult to quickly meet changes in market demand by relying solely on internal R&D. At this time, mergers and acquisitions can not only integrate the professional technical capabilities of different companies and reduce R&D costs, but also accelerate the commercialization of technological innovation results. Strengthen barriers and supplement the application map.So here comes the question——For the Chinese EDA industry, why is it only feasible in theory to completely copy the M&A development model of overseas giants?
The gap: Times have changed
Chinese EDA will surely find a way to surpass others.But one thing is certain: it will not be the path that the giants took thirty years ago.October 26, 2016U.K.Hedge fund Argonaut Capital blasted Germany on its official website, saying:What conspiracy theory are you Germans coming up with? ! Your conspiracy theory is totally untenable. If your logic is valid, then in the future, will it be impossible for the Chinese to acquire German steel companies? Because steel can be used to build tanks.GermanyChip company Aixtron immediately united with its major British shareholder Argonaut Capital, but did not dare to criticize its own government, but instead targeted the then-President of the United States:After Yingde's output, he gotUSAA clearer instruction - to prevent Hongxin Fund from acquiring Germany's Aixtron.ThisChina-GermanyThe cross-border acquisition of chip companies between China and Germany (the money was paid and the German government once approved it) was thusUSAstraightThen call a halt.Obviously, in a complex and changing situation,Technology blockades and potential M&A restrictions against China exist，The road to acquiring valuable technology through mergers and acquisitions of overseas companies is already fraught with difficulties.So, is it feasible to become bigger and stronger by acquiring domestic companies? In recent years, we have also seen the examples of Xinhuazhang acquiring Shunyao Electronics and Huada Jiutian acquiring Xinda Technology.For companies that take this route, having money alone is not enough, they must also have sufficient "digestion" capabilities.There are two main development models for EDA companies:Synopsys Mode: Priority will be given to breakthroughs in core EDA tools in key links, and after these tools are recognized by the international market, further launch key process solutions with international market competitiveness.Cadence Mode: Prioritize building a full-process solution, and then gradually improve the market competitiveness of the core EDA tools in each key link of the solution.Chinese EDA companies taking these two different development paths：The former hasProPlus ElectronicsandGuangli Micro——The specific links covered by Prologix include device model modeling and verification tools in the process platform development phase of the manufacturing phase, and circuit simulation and verification tools in the analog circuit EDA of the design phase; Guangli Micro achieves full process coverage in the field of improving the yield of integrated circuits, and extends from the manufacturing end to the design end;The latter is typicallyHuaDa JiuTianHuaDa Empyrean has realized a relatively complete full-process solution for analog integrated circuits.However, there is a clear gap between my country's EDA enterprises and the international leading level. Specifically:
Technology accumulation:Domestic EDAs mostly focus on the research and development and application of point tools, while international giants such as Cadence, Synopsys and Mentor Graphics cover almost all important links in the integrated circuit industry chain.Especially in the field of cutting-edge processes, domestic EDA tools have not yet reached the level of support7 nanometersEven the design requirements of more advanced processes.Application scenarios:EDA tools are divided into five categories: digital design, analog design, wafer manufacturing, packaging, and system. Domestic EDA tools are mostly used in the design and verification of mid- and low-end chips, while foreign manufacturers widely serve the design process of various high-end digital chips, analog/mixed signal chips, and system-level chips.EDA can be roughly divided into the following categories based on maturity:Functional maturity stage (EDA tools can support the design and manufacturing process of integrated circuits to meet the standards of practical applications), improvement stage (EDA not only supports daily operations, but also helps customers improve product yield, optimize the design and manufacturing processes, and enhance user experience), and barrier building stage (EDA forms technical and ecological barriers through multi-tool collaborative optimization).It is generally believed that most of my country's EDA companies are currently between the "functional maturity stage" and the "improvement stage".In contrast, international EDA giants have built barriers and therefore have a larger market share.Industry chain collaboration:The technological achievements are relatively scattered.As a latecomer, we still face two major problems:First, the world's leading EDA companies have established solid cooperative relationships with top Fabless (semiconductor companies without wafers) and Foundries (wafer foundries).Formed a highly bound ecological alliance。This deeply integrated cooperation model makes it difficult for new entrants to break the existing pattern.Second, the collaboration between EDA tools throughout the entire process is extremely close, and the breakthrough of a single tool cannot fully meet market demand.While pursuing full autonomy and control, emerging domestic EDA companies also need to overcome huge challenges in technology integration and ecosystem construction.Therefore, full-process EDA tool coverage is very important, and the missing of any link will hinder the progress of my country's integrated circuit industry.At present, the industry believes that my country's EDA may be better off going“Specialized Integration”Routes, including but not limited to -Bundle Mode:Different EDA companies work together to form a complete design solution by bundling their respective expertise tools.Custom development mode:Large EDA companies establish custom development partnerships with small or start-up EDA companies based on their own technological advantages and market position.Incubation mode:Large EDA companies use their accumulated experience and resource advantages to cultivate and support start-up EDA companies with technological potential.There are many reasons why my country's EDA is temporarily lagging behind. Fortunately,New variables have emerged in the ecosystem.
Current variables and inner loopsBehind every industrial software giant, there is a high-end manufacturing giant.For example, behind France's Dassault is France's world-leading aviation industry.SolidWorks is backed by Boeing of the United States.This has formed an "internal circulation" of industrial giants and software giants.my country's EDA industry has once again reached a historic stage of transformation and ushered in an era of the most vigorous downstream demand.my country5G communications, new energy vehiclesWith the rapid development of industries such as..., the demand for chip design has increased dramatically, providing a vast market for EDA companies.The downstream of the EDA industry mainly includes integrated circuit design, manufacturing, packaging and testing companies👇●Chip design companies and chip design manufacturers are the main demanders of EDA software, such as Intel, Samsung, Huawei HiSilicon, and Tsinghua Unigroup.●Wafer manufacturing companies, chip design manufacturers hand over chip design drawings to wafer foundries for manufacturing, such as TSMC, SMIC, Samsung, etc.●Packaging and testing companies, EDA manufacturers provide packaging design EDA tools, packaging design is becoming more and more complex: Amkor, United Technologies, nepes, etc.●EDA not only supports the $70 billion semiconductor manufacturing industry,It also indirectly supports multiple giant industries👇In these downstream markets, China's achievements in new energy vehicles, 5G communications and other fields are obvious to all.Chinese cars:According to the data from the China Association of Automobile Manufacturers, in 2023, the production and sales of new energy vehicles in my country will reach 9.587 million and 9.495 million respectively, up 35.8% and 37.9% year-on-year respectively. Among the leading enterprises, by the end of December 2023, BYD's new energy passenger vehicles had exported more than 298,000 units. Currently, BYD's new energy passenger vehicles have entered Japan, the United Kingdom, Germany, Australia, Brazil and other countries, with footprints in 59 countries and regions around the world.5G Communications:In 2023, 5G will directly drive total economic output of 1.86 trillion yuan. 5G industry applications have been integrated into 67 of the 97 major categories of the national economy. China leads the world in 5G application innovation, achieving scale replication in industries such as industry, mining, electricity, ports, and medical care. Water conservancy, construction, textiles, oceans, and low-altitude areas are accelerating the exploration of 5G applications.robot:The scale of my country's robotics industry is growing rapidly, and it has firmly established itself as the world's largest industrial robot market. The robotics industry in the Pearl River Delta region is centered in Guangzhou, Shenzhen, Dongguan and Foshan, forming an industrial cluster that radiates to surrounding cities. China's robotics industry has great development potential in the next few years, especially in the fields of intelligent manufacturing, service robots, and special robotics.What can the rapid development of several industrial fields in China bring to EDA?Let’s take the market changes of Synopsys, the global EDA giant, as an example to show how it has benefited from the rise of China’s industry."Star Ship Zhizao" saw on platforms such as Statista,In the past five years, Synopsys's annual revenue growth in China has been amazing. See the figure below👇China is already Synopsys' second largest market:In 2023, Synopsys generated nearly $2.8 billion in revenue from the United States.Other regions contributing to the company's revenue in the same year included Europe ($596 million) and China ($886 million).Synopsys has a strong presence in various markets around the world, with net sales distributed as follows:The United States (47.7%), China (15.2%), South Korea (10.9%), Europe (10.2%) and other regions (16%). See the figure below👇source：Synopsys
Synopsys is currently reaping the benefits of China's industrial rise.However, with the rise of more local industrial giants, such as Huawei HiSilicon and SMIC, there is an urgent need for closer and more secure industrial chain collaboration, which has given rise to a strong demand for domestic EDA.We believe that this market is large enough to produce leading EDA companies like the Big Three in the United States.In this process, the competitiveness of Chinese EDA companies has been continuously enhanced👇●Huawei joins handsDomestic EDA companies and scientific research teams achieved the localization of EDA tools for 14nm and above process nodes in 2023.
●ProPlus Electronics in the manufacturing processBreakthroughs have been made in the field of device model modeling and verification tools in the process platform development stage, and circuit simulation and verification tools in analog circuit EDA in the design phase.
●Guangliwei has achieved full process coverage in the field of improving integrated circuit yield.
●HuaDa Empyrean starts from specific design application fields and gradually builds full-process solutions, thereby enhancing the competitiveness of core EDA tools in each link in the global market.
Finally, let’s take a look at China.cloud computingWhat opportunities can enterprises bring to EDA after they are developed?According to IDC's "China Public Cloud Service Market (First Half of 2023) Tracking" report, in the IaaS market, Alibaba Cloud, Huawei Cloud, China Telecom, Tencent Cloud and AWS are the top five in the market, with a combined market share of 72.4%. In the first half of 2023, Alibaba Cloud, Tencent Cloud, AWS, Huawei Cloud and China Telecom are the top five in the PaaS market, with a combined market share of 66.9%👇Cloud computing has broken the constraints of traditional localized hardware facilities on the use of EDA tools.Compared with international EDA giants, the main problems of Chinese EDA at present are slow product verification and iteration and low self-sufficiency rate.One of the solutions is to connect enterprises, academia and research institutes to coordinate the development of the entire industrial chain and form an ecosystem.During this process, through cloud services, enterprises can access cloud-based EDA tools without investing huge amounts of money to purchase and maintain high-performance server clusters.Large cloud computing service providers such as Alibaba Cloud and Tencent Cloud are working with domestic EDA companies to migrate chip design processes to the cloud, and reduce the cost investment of small and medium-sized enterprises in the early stages and iterations of chip design through a pay-as-you-go approach.●In 2022, domestic EDA companies such as HuaDa JiuTian reached strategic cooperation with mainstream cloud computing platforms. Through cloud EDA solutions, design engineers can execute complex logic in the cloud.It can greatly improve the design efficiency and productivity by integrating computer synthesis, physical design, simulation verification and other tasks.
●The cloud also provides an innovative platform for small and medium-sized design teams and start-ups to quickly respond to market demands.
●Cloud-based EDA services can also update software versions in real time, ensuring that users always use the latest tool sets, further shortening the chip design process.Measuring cycle.This is also a technological innovation for the chip design industry, which emphasizes time and cost control.
end
24 years ago, SMIC laid the first pile in Zhangjiang, Shanghai. China Mobile Communications just took its place at the table.。The largest telecom operators, mobile phone manufacturers, chip manufacturers, and equipment manufacturers are all in the United States and Europe.Huawei is still trying to “break out of Guangdong”.In the following years, when South Korea's Samsung had already mastered the "counter-cyclical method" of investing more as losses increased, we were still debating whether we should invest money in the chip field.Today, a friend said, "The domestic EDA market is too competitive," and "The three musketeers have all been listed, so why haven't we produced any competitive products yet?" But is it really that competitive? And has it really been going on for a long time?my country's chip investment boom began in 2019 and has continued to grow5In that year, Huawei was banned from the Entity List. In five years, a cypress tree grows 50 centimeters taller and the moon moves 19 centimeters away from the earth. Five years is not a long time.Some fields can be developed in a year, but the EDA field cannot be matured quickly. But don’t forget that it is backed by an ecosystem that has been built for many years.Modern SoftwareIt is a showdown between ecosystems. China's ecological advantages lie in the completeness of the industrial chain and collaboration system, the huge domestic demand market and the bonus of engineers. The demand and supply of integrated circuit talents in my country are expanding. The number of resumes submitted and the proportion of fresh graduates seeking jobs in the integrated circuit talent market are increasing year by year.The chip industry is not just about slogans. The current active and passive exits, the hot and cold investment tides and attention are all in the early stages of the roll. Its final fruits cannot be picked by speculators.We will win this "narrow gate of chips", it's just a matter of time.
Note: The cover image comes from Weibo @电影漂流地球
References:
[1] Shareholders Board Members Managers and Company Profile.Synopsys
[2] Synopsys revenue by region 2023 . Statista
[3] Vigorously develop industrial software.Cyberspace and Civilian-Military Integration
[4] DomesticEDA, easy to go publicsuperiorBattlefield Difficulty.MatrixViewing angle
[5] "Vigorously Develop Industrial Software" by Ni Guangnan
[6] foreignEDAIndustrial Chain40Years of M&A history, domesticEDASoftware vendors andThe road to acquisition and reorganization.Huang Letian
[7] UnderstandEDA：I want to sell the chips and keep the money for water.Guokr Hard Technology
[8] "worldwideEDA/IPIndustry Market Research ReportJiwei Consulting
[9] The United StatesEDAStart, tear off the veil completely.
[10] Renmin University of China Mergers and Acquisitions and Investment Research:ChinaEDAIndustry challenges and global M&A wave
[11] The mother of all chips EDA Towards localization - Computer industry research weekly.Shengang Securities
[12] 2023ChinaEDASoftware industry marketOutlook and investment research reports.middleInstitute of Commerce and Industry
[13]domesticEDALeading companies announced:Tens of millions of dollars for mergers and acquisitions! 21Century Business Herald
[14]"2023 China Mainland Integrated Circuit Industry Talent Supply and Demand Report"
This article is based on interviewsThis is not a public document and does not constitute any investment advice.
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