Field Programmable Gate Array Market is Estimated to Witness High Growth Owing to Increasing Demand

Author : Purvaja Jadhao | Published On : 02 Feb 2024

Field Programmable Gate Arrays (FPGAs) are integrated circuits that can be reprogrammed even after manufacturing to implement any random logic or arithmetic functions enabling hardware acceleration and flexible computing. They allow hardware systems and programs to be changed through software reprogramming. FPGA finds applications in machine learning, data centers, AI, 5G communications and autonomous vehicles where the dynamic reconfiguration capability helps optimize hardware for specific applications. The global field programmable gate array market is estimated to be valued at US$ 9506.17 Bn or Mn in 2023 and is expected to exhibit a CAGR of 9.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Increasing demand for re-programmable logic: FPGAs allow the implementation of logic functions by downloading configuration files into the device after manufacturing. This re-programmability allows leveraging FPGAs to accelerate specialized applications without having to develop new integrated circuits. Moreover, late customization is becoming crucial for applications requiring adaptability. This key advantage is driving increased adoption of FPGAs across various industries.

The other key driver driving the field programmable gate array market is growing demand from data centers. Hyperscale cloud providers and web-scale companies are deploying FPGAs to accelerate machine learning inferencing, video transcoding, encryption, and other data-intensive workloads. Their high-performance, low-power and re-programmable nature allows adapting hardware for specific algorithms without having to design new ASICs each time. This flexibility is a major reason for growing FPGA deployments in data centers.

SWOT Analysis
Strength: Field Programmable Gate Array has several advantages over traditional application-specific integrated circuits (ASICs). FPGAs allow design changes to be made even after production which provides flexibility. They consume less power, have lower non-recurring engineering costs and offer faster time to market compared to ASICs. FPGAs can be reprogrammed in the field at any time by simply changing the configuration bitstream.

Weakness: Field Programmable Gate Arrays have higher unit costs compared to ASICs. As the production volume increases, the cost per unit for ASICs is lower than FPGAs. FPGAs also have lower performance and density compared to ASICs which limits their suitability for high-performance applications.

Opportunity: Increased adoption of FPGAs in artificial intelligence, virtual and augmented reality, machine learning, blockchain and edge computing applications provides significant growth opportunities. Rapid technological advancements in manufacturing processes are helping to improve performance, density and costs of FPGAs making them suitable for a wider range of applications. Growth of 5G infrastructure and connected devices will drive the need for reprogrammable devices like FPGAs.

Threats: Availability of cheaper alternative programmable solutions like complex programmable logic devices (CPLDs) pose a threat to the FPGA market. Ongoing trade wars causing supply chain disruptions also impact the FPGA industry negatively. Increasing popularity of application-specific standard products (ASSP) and complex chips reduces demand for custom FPGAs.

Key Takeaways
The Global Field Programmable Gate Array Market Share is expected to witness high growth. The market size is projected to reach US$ 9506.17 Bn by 2031, expanding at a CAGR of 9.2% during the forecast period. Rapid adoption of FPGAs across industries has fueled demand.

Regional analysis: North America currently dominates the global FPGA market, both in terms of revenue and volume. This can be attributed to strong manufacturing base of major players and increased investment in R&D of advanced technologies in the region. Asia Pacific is expected to see the fastest growth over coming years. Presence of emerging economies like China and India providing huge production capacities and growing electronics industry drives the regional market.

Key players operating in the Field Programmable Gate Array market are Takara Bio Inc., ViaCyte Inc., PromoCell GmbH, Merck KgaA, PeproTech Inc., Astellas Pharma Inc., Thermo Fisher Scientific, Lineage Cell Therapeutics Inc., and STEMCELL Technologies Inc., among others. The players focus on new product development and mergers & acquisitions to gain competitive advantage and increase their market share in the high growth FPGA industry.

For more details on the report, Read- https://www.marketwebjournal.com/field-programmable-gate-array-market-growth-market-size-share-analysis/

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