Programmable Silicon Is Estimated To Witness High Growth Owing To Increasing Demand for Flexible Chips
The Programmable silicon market is estimated to be valued at US$ 91.13 Bn in 2023 and is expected to exhibit a CAGR of 12.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The programmable silicon market finds wide applications in consumer electronics, industrial, automotive, medical, aerospace & defense and telecommunications. Programmable silicon chips provide flexibility and enable quicker response to evolving market conditions and technology changes compared to traditional hardwired chips. This has increased their demand across different industries.
Market Overview:
Programmable silicon chips offer flexibility to modify or reconfigure chip functionality after manufacturing, which makes them suitable for applications that require rapid prototyping or adapting to changing standards. Products like field programmable gate arrays (FPGAs) are extensively used to develop complex digital circuits in industries like telecommunications and data centers that require frequent hardware updates.
Market Dynamics:
The key drivers fueling growth of programmable silicon market are increasing demand for flexible chips and growing adoption of FPGAs. Programmable silicon chips provide flexibility to change or update chip functionality according to changing needs without the need for a new design or manufacturing process. This has increased their adoption across different industries where applications require frequent updates. Additionally, growing demand for high performance computing from data centers is also driving usage of efficient programmable chips like FPGAs. However, high costs associated with programmable silicon devices and availability of cheaper ASIC alternatives are some of the factors that may restrain market growth.
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