Field Programmable Gate Array Market is Estimated to Witness High Growth Owing to Increasing Adoption of Artificial Intelligence

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Field programmable gate array (FPGA) is a semiconductor device that can be configured after manufacturing using a hardware description language. It provides customizable functions for signal processing, video processing, encryption and decryption. FPGAs are widely used in high-speed data transmission, deep learning, autonomous vehicles, high-frequency trading and computer vision. With growing adoption of artificial intelligence and machine learning technologies, the demand for flexible and customizable processing platforms like FPGAs is rising rapidly.

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 9.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

One of the key drivers for the growth of field programmable gate array market is the increasing adoption of artificial intelligence and machine learning technologies. As AI and ML applications involve complex algorithms and real-time data processing, FPGAs provide an optimal hardware platform due to their inherent parallel architecture and re-programmable nature. FPGAs deliver high performance compared to general purpose CPUs for AI workloads. Additionally, FPGA configurations can be modified to support evolving AI algorithms. This has resulted in widening applications of FPGAs in AI edge devices, ADAS, robotics, autonomous vehicles and other emerging technologies. Another driver is high demand from data centers to accelerate processing of critical workloads like high-performance computing, machine learning inference and financial modeling. FPGA based accelerators help data centers meet processing demands in a cost effective and energy efficient manner.

SWOT Analysis

Strength: Field Programmable Gate Array market provides maximum flexibility and reprogrammability which helps adapt to changing technology needs quickly. FPGA can be reconfigured post-production allowing design changes or bug fixes after a product ships. FPGA also provides high speed processing capabilities.
Weakness: FPGA designs requires expertise in HDL languages like Verilog or VHDL which increases development costs. FPGAs are generally more expensive than alternative solutions like application-specific integrated circuits (ASICs).
Opportunity: Growth of AI and machine learning workloads opens up new opportunities for FPGAs as they can accelerate intricate computing workloads. Growing demand for low-power efficient computing in sectors like automotive and IoT also presents growth prospects.
Threats: Increasing domination of GPUs and ASICs in machine learning and datacenter applications poses a threat. Alternative emerging technologies like application-specific integrated circuits (ASICs) and structured ASICs also threaten FPGAs.

Key Takeaways

The global Field Programmable Gate Array Market Share is expected to witness high growth. Rapid penetration of AI and big data analytics across industries has driven demand for efficient and flexible computing solutions. FPGAs have emerged as compelling platforms for hardware acceleration owing to their reprogrammable nature. Rising complexities in algorithm and workload have bolstered adoption of FPGAs.

Regional analysis: North America dominates the global FPGA market currently. Heavy investments in AI by tech giants and governments is driving regional market growth. Early adoption of cutting-edge technologies and presence of leading FPGA vendors fuels the North American market. Asia Pacific is poised to be the fastest growing regional market. Expanding manufacturing industry and growing electronics sector in China, India, Japan, and South Koreais supporting regional growth. In addition, developing automation and transportation infrastructure is spurring adoption of FPGA platforms.

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. Xilinx and Intel act as the market leaders with the widest FPGA product portfolios. These players are focusing on diversifying their offerings and advancing fabrication technologies to address evolving application demands

For more insights, read- https://www.pressreleasebulletin.com/field-programmable-gate-array-market-trends-size-and-share-analysis/

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