Field Programmable Gate Arrays or FPGAs are silicon devices that can be programmed in the field after manufacturing, allowing for post-production changes to the logic functionality. They provide customers with the ability to modify their hardware design after deployment in the field. FPGAs offer advantages such as reduced time-to-market, lower non-recurring engineering costs, reduced risk and faster innovation. The global Field Programmable Gate Array Market is estimated to be valued at US$ 9506.17 Bn in 2024 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 key trends:
New FPGA designs and architectures is one of the major trends driving the growth of the field programmable gate array market. In recent times, FPGA vendors have developed new FPGA architectures which have enhanced performance, speed, logic capacity and reduced power consumption. For instance, in 2018, Intel introduced its Agilex FPGA family with hyper-flexible new architectures to enable autonomous driving, 5G, and machine learning applications. The Agilex family FPGAs deliver enhanced performance with up to 2.5 times faster throughput than previous generation FPGAs. Similarly, in 2019, Xilinx launched its Versal AI Core series with adaptive compute acceleration platform (ACAP) architecture to accelerate AI, networking, and heterogeneous workloads. The Versal series pack approximately 10 times the performance of previous Xilinx FPGAs. Such innovations in FPGA designs help address the ever-increasing demand from end-users, thereby supporting the market growth over the forecast period.
Strength: FPGA provides flexibility and reprogrammability advantages that are useful in designing complex digital circuits and embedded systems. They can be reconfigured after manufacturing to adapt to new interface protocols and architectures.
Weakness: FPGA designs require extensive time and expertise to develop as compared to alternative technologies like ASICs. FPGAs are also more expensive than CPLDs or microcontrollers for low to medium volume production runs.
Opportunity: Growing adoption of AI/ML workloads across industries is opening up new application areas for FPGA use. Increased deployment of 5G networks worldwide will demand higher performance from communication infrastructures relying on FPGA network processing capabilities.
Threats: Growth of ASICs customized for specialized workloads like AI/ML, could reduce FPGA market share over time. Volatility in cryptocurrency markets impacting demand for FPGA-powered mining equipment is also a potential threat.
The Global Field Programmable Gate Array Market Share is expected to witness high growth over the forecast period.
Regional analysis- North America dominated the FPGA market in 2024 owing to increased investments in high performance computing applications by governments and enterprises in the region. The Asia Pacific region is expected to grow at the fastest pace during the forecast period with increasing electronics manufacturing activity in China, India, Taiwan and South Korea.
Key players operating in the FPGA 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. These players are focusing on developing advanced FPGA solutions for applications such as data centers, networking, automotive, industrial and aerospace & defense. For example, Xilinx launched their latest Versal series of adaptive compute acceleration platform FPGAs targeting AI acceleration.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it