Field programmable gate arrays, commonly known as FPGAs, are integrated circuits that can be reprogrammed multiple times post-manufacturing to implement customized logic functions. FPGAs offer advantages over traditional programmable logic devices (PLDs) such as low non-recurring engineering costs, faster time-to-market, and lower design risks. Furthermore, FPGAs consume less power than alternative technologies such as application-specific integrated circuits. They find applications in data centers, automotive, industrial automation, aerospace & defense, consumer electronics among others.
The global Field Programmable Gate Array Market is estimated to be valued at US$ 8251.88 Mn in 2023 and is expected to exhibit a CAGR of 8.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growth in demand for low power consumption electronic devices is driving the field programmable gate array market. FPGAs are increasingly replacing general-purpose processors and dedicated hardware in several battery-powered devices due to their ability to be reprogrammed after deployment which reduces time-to-market. Furthermore, FPGAs can implement the same functionality as an application-specific integrated circuit (ASIC) with much lower power consumption, making them a preferred choice for designers targeting battery life and power saving. With consumer electronics becoming thinner and more portable while also offering more functionality, energy efficiency has become a top priority, boosting opportunities for FPGA vendors.
SWOT Analysis
Strength: Field Programmable Gate Array offers significant advantages of reduced development and production costs. It provides flexibility to modify hardware post manufacturing which helps adapt to market changes quickly.
Weakness: FPGA has higher upfront costs compared to application-specific integrated circuits. Frequent design changes in FPGA may increase debugging and verification efforts.
Opportunity: Growing demand for low power consuming devices will create scope for FPGA vendors. Integration of AI/ML capabilities on FPGA chips is opening new application areas.
Threats: Stiff competition from ASIC and processors limits profit margins for FPGA manufacturers. Supply chain disruptions due to global economic uncertainties pose business challenge.
Key Takeaways
The global Field Programmable Gate Array Market Scope is expected to witness high over the forecast period. Rapid developments in internet of things and communications technologies are driving demand for programmable logic devices with FPGA at the core. North America dominates currently due to strong presence of FPGA vendors and their focus on R&D activities. However, Asia Pacific region is emerging as the fastest growing market with rising electronics manufacturing in countries like China, Taiwan and South Korea.
Key players operating in the field programmable gate array market are Xilinx Inc. (AMD Corporation), Intel Corporation, Quicklogic Corporation, GOWIN Semiconductor Corporation, Microchip Technology Incorporated, Lattice Semiconductor Corporation, Efinix Inc. and Achronix Semiconductor Corporation. FPGA manufacturers are focusing on new product launches integrated with advanced technologies. For instance, Xilinx recently introduced VersalTM AI Edge series with machine learning acceleration capabilities. Product differentiation through continuous innovation will remain crucial for leadership in this competitive market.
The future growth prospect for FPGA looks promising with increasing scope across artificial intelligence, 5G infrastructure, autonomous vehicles and other cutting-edge technologies. Leading players are well positioned to leverage opportunities through strategic collaborations and customized solutions for diverse application segments.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
