by Field programmable gate arrays (FPGAs) are integrated circuits that can be configured after manufacturing according to the design needs of customers. They find applications where customized hardware functionality is desired such as data centers, telecommunications, automotive, industrial automation, aerospace & defense among others. Some common FPGA applications include workload acceleration, network appliances, machine learning, cryptocurrency mining, adaptive radar systems, and many more. The global FPGA market is estimated to be valued at US$ 9506.17 Bn 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:
The increasing adoption of FPGAs in data centers and IoT applications is expected to drive the market growth over the forecast period. With the growing data volumes, data center operators are using FPGAs as hardware accelerators to improve computation speeds and workloads. FPGAs find wide usage in network appliances, load balancers, firewalls and virtualization deployed in modern data centers. Furthermore, the integration of AI technologies in IoT devices requires high performance and low power consumption which can be effectively addressed using FPGAs. They are commonly deployed in edge devices for applications like industrial automation, autonomous vehicles among others. The field programmable gate array market opportunity arising from increasing data center traffic and connectivity of more devices to the internet makes it an attractive option for various organizations.
Segment Analysis
The field programmable gate array (FPGA) market can be segmented into military, aerospace & defense, consumer electronics, automotive and others. The others segment includes healthcare, industrial and telecommunications. The consumer electronics segment is dominating the market currently due to increasing demand for smart devices and growth in artificial intelligence. FPGAs are preferred in consumer electronics due to their reprogrammable nature which helps adapt to changing technology needs.
PEST Analysis
Political: The government regulations regarding data security and privacy are becoming stricter with growing usage of electronic devices. This is positively impacting the demand for secure and flexible FPGA solutions.
Economic: The global economy is recovering from the pandemic which is fueling consumer spending on electronic products using FPGAs. Rising investments in sectors like automotive, industrial and healthcare are also propelling the FPGA market growth.
Social: Changing lifestyle and work habits are increasing smartphone, laptop and smart home device usage. Societal focus on connectivity, automation and ease-of-use is driving the need for upgradable electronics with advanced FPGA capabilities.
Technological: Emerging technologies like Internet of Things (IoT), 5G networks and artificial intelligence are opening up new application areas for FPGAs. Advancements in semiconductor fabrication are allowing the development of more powerful and efficient FPGA solutions.
Key Takeaways
The Global Field Programmable Gate Array Market Share is expected to witness high growth over the forecast period of 2024 to 2031.
Regional analysis: Asia Pacific will dominate the market due to flourishing electronics industry in countries like China, India, Japan and South Korea. Europe and North America will also grow significantly.
Key players operating in the field programmable gate array (FPGA) market include Takara Bio Inc., ViaCyte Inc., PromoCell GmbH, Merck KgaA, and STEMCELL Technologies Inc., among others. Key players are introducing advanced FPGAs with high bandwidth, advanced packaging and low power capabilities to capitalize on emerging technology trends.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
