Field Programmable Gate Array Market Growth Accelerated by Increased Application in Consumer Electronics
Field Programmable Gate Arrays are semiconductor devices that are based around a matrix of configurable logic blocks (CLBs) connected via programmable interconnects. FPGA finds application in diverse domains ranging from scientific applications to consumer electronics. They provide flexibility and low non-recurring engineering costs when compared to application-specific integrated circuits. Their reprogrammable nature allows upgrading or modifying the design of the product after manufacturing. The global Field Programmable Gate Array 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 key trends:
One of the key trends driving the growth of the field programmable gate array market is its increasing application in consumer electronics. FPGAs offer scope for on-field upgrades and modifications which conventional chips lack. This has resulted in their increased use in various consumer electronics such as set-top boxes, home gateways, smartphones, tablets, video game consoles among others. Their reprogrammable nature allows upgrading outdated hardware and modifying the design as per changing user requirements. This has significantly boosted their demand from the consumer electronics vertical. Further, ongoing technological advancements such as 5G implementation and growth of IoT connected devices will continue to spur opportunities for FPGA integration in consumer electronics over the coming years.
Segment Analysis
The global field programmable gate array market is dominated by SRAM FPGAs sub-segment, which holds around 80% market share. SRAM FPGAs offer benefits like quick reprogrammability, low power consumption and easy debugging. They are preferred for applications requiring frequent design changes.
Key Takeaways
The Global Field Programmable Gate Array Market Share is expected to witness high growth over the forecast period.
North America currently dominates the market due to presence of major FPGA manufacturers and their adoption across sectors like communications, computing and industrial. This region is expected to maintain its leading position in the coming years as well.
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. Takara Bio Inc. is a prominent player with leading share in FPGAs for industrial applications. Merck KgaA offers wide variety of FPGAs for communications and computing.
For more details on the report, Read- https://www.rapidwebwire.com/field-programmable-gate-array-market-demand-share-analysis/
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