半导体行业跟踪报告之二十二：广立微：EDA巨头专注于芯片良率提升技术

Investment Rating - The report maintains a "Buy" rating for the EDA industry [2]. Core Insights - The EDA (Electronic Design Automation) industry is crucial for the semiconductor sector, with a strong push for domestic production in China due to increasing complexity in integrated circuit design driven by emerging technologies like 5G and AI [5][34]. - The global EDA market is projected to grow from approximately $14.53 billion in 2023 to $15.71 billion in 2024, while the Chinese EDA market is expected to increase from 12 billion yuan in 2023 to 13.59 billion yuan in 2024 [5][7]. - The domestic EDA industry is experiencing a significant increase in localization, with the localization rate rising from 6.24% in 2018 to 17.61% in 2023, and projected to reach 18.52% in 2024 [8][10]. - The report highlights the competitive landscape, noting that the top three international EDA companies dominate over 70% of the market, while domestic player Huada Jiutian has gained a market share of 5.9% [10][12]. Summary by Sections EDA Industry Overview - EDA is essential for the design, verification, and testing of integrated circuits, with its market growing steadily due to the increasing complexity of chip designs [4][5]. - The EDA software market is categorized into three main types: chip design assistance software, programmable chip design software, and system design assistance software [4]. Market Growth and Localization - The global EDA market is expected to grow steadily, with a forecasted market size of $15.71 billion in 2024 [5]. - The Chinese EDA market is also expanding, with a projected size of 13.59 billion yuan in 2024 [7]. - The localization rate of EDA in China is on the rise, indicating a shift towards domestic solutions [8]. Company Performance and Developments - The report discusses the performance of domestic EDA companies, particularly Guangliwei, which has seen revenue growth and is expanding its product offerings [18][29]. - Guangliwei's revenue for 2023 was 478 million yuan, a 34% increase year-on-year, and it is expected to continue growing [29][30]. - The company has also implemented an equity incentive plan to boost employee motivation and align interests with shareholders [30][31]. Investment Recommendations - The report suggests focusing on domestic EDA companies like Guangliwei, as they are expected to benefit from the ongoing localization trend and increasing demand for EDA solutions [34].