Cadence and Synopsys together had around $7.4B core EDA revenue, up 7% y/y. Around 65-70% of their revenue comes from core EDA. Their revenue growth is tied up with chip companies' R&D spent (up to 13% of budget).
Synopsys' EDA revenue grew 16% CAGR between 2019 and 2024 while Cadence posted 13%. Both issued double-digit growth guidance for FY25. Cadence is strong in analog and hardware emulation areas while Synopsys is strong in digital. Both have intensified their AI effort to capture more R&D dollars from chip (system and traditional semi) companies.Source: Sravan Kundojjala
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