by A field-programmable gate array (FPGA) is an integrated circuit device that can be reconfigured by a designer after manufacturing or in a post-production environment. It allows designers to program logic blocks and interconnects that can implement any digital circuit desired. FPGAs also provide flexibility and adaptability through programmability and are used for a wide range of applications including encryption and decryption, DSP, data acquisition, image processing, and high-speed computing. The increasing demand for high-performance computing across industries such as automotive, telecommunications, aerospace & defense is driving the adoption of FPGAs as they provide faster processing speeds and lower power consumption compared to CPUs and GPUs. The global Field Programmable Gate Array Market is estimated to be valued at US$ 9506.17 Bn in 2024 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 gaining traction in the FPGA market is the shift towards high-end FPGA devices with advanced architectures such as 3D-IC and multi-chip modules (MCM). Major FPGA vendors are focusing on developing devices with higher logic densities and memory capacities to support complex Artificial Intelligence and HPC workloads. For instance, in 2021 Xilinx launched its Versal HBM Series devices which combines FPGA fabric with high-bandwidth memory on the same package, delivering 50x higher bandwidth than DDR5. Such innovative high-end FPGA devices will drive the adoption in applications requiring massive parallel processing capabilities such as autonomous driving, genomics research, drug discovery etc.
Porter’s Analysis
Threat of new entrants: The Field Programmable Gate Array Market has moderate threat of new entrants due to high initial capital requirement and need for high technological expertise. However, opportunities for new players to enter with innovative products exist.
Bargaining power of buyers: The bargaining power of buyers in the Field Programmable Gate Array Market is high due to availability of numerous players providing similar products. However, differentiated products and services provide buyers less bargaining power.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there exist many suppliers for raw materials and components. However, specialized components have few suppliers with higher bargaining power.
Threat of new substitutes: Threat of substitutes is low for FPGA as they provide superior customization, flexibility and reprogrammability compared to alternatives like ASICs.
Competitive rivalry: The competitive rivalry in the market is high owing to presence of numerous global and regional players offering similar range of products. Players differentiate through innovative product offerings and services.
Key Takeaways
The Global Field Programmable Gate Array Market Share is expected to witness high growth.
Regional analysis: Asia Pacific is projected to be the fastest growing region in the Field Programmable Gate Array Market during the forecast period. This can be attributed to growing electronics sector, rising research activities, and increasing investments by key players in the region. China dominated the Asia Pacific market owing to largest electronics production base and low manufacturing costs.
Key players: 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. Takara Bio Inc. and Thermo Fisher Scientific held significant share of the market in 2021.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
