2024 kicks off with welcome news from the latest Electronic Design Market Data (EDMD) report produced by the Electronic System Design (ESD) Alliance, a SEMI Technology Community. The ESD industry reported near record revenue growth in Q3 2023 with an increase of 25.2% to $4,702.4 million from $3,756.3 million in the third quarter of 2022. The four-quarter moving average comparing the most recent four quarters to the prior four rose 13.8%. 
According to Wally Rhines, Executive Sponsor of the SEMI EDMD report, this was the highest overall growth since Q4 1998. Computer-Aided Engineering, IC Physical Design and Verification, Printed Circuit Board (PCB) and Multi-Chip Module (MCM), and Semiconductor Intellectual Property (SIP) categories reported double-digit growth. All geographic regions reported substantial growth, he added.
Head count increased as well. Companies tracked in the EDMD report employed 59,737 people globally in Q3 2023, a 10.6% jump over the Q3 2022 headcount of 53,034 and up 1% compared to Q2 2023.
