The global field programmable gate array (FPGA) market is expected to value at USD 14.2 billion by 2024. The field programmable gate array industry is subject to witness a substantial growth due to the increasing demand for field programmable gate array (FPGA) in various end-user industries. Applications of the field programmable gate array ranges from military & aerospace to consumer electronics sector, thus propelling market demand for the product in the recent years.
Increasing adoption of field programmable gate array (FPGA) from automotive industry for product differentiation are expected to drive the growth of field programmable gate array market over the forecast period. Globally, the field programmable gate array (FPGA) industry is predicted to grow at higher CAGR the forecast period, providing numerous opportunities for market players to invest for research and development in the market.
Growing preference towards field programmable gate array over the application specific integrated circuit (ASIC) owing to its higher reliability that allows manufacture to widen their market reach in different industry verticals such as mixed signal designs and system on chip (SoC).
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FPGA is a type of embedded device that is designed only for a particular application or function. In comparison with application-specific integrated circuit (ASIC), the standard field programmable gate array (FPGA) are faster and provide high level of functionality. Field programmable gate arrays (FPGAs) are non-volatile in nature thus allowing high computation speed and superior operational capability. A field programmable gate array are compact in nature and require less operating power. However, field programmable gate array (FPGA) highly expensive and complex for manufacture and design respectively. These factors are expected to limit market growth to a certain extent.
The FPGA market is broadly categorized into five major segments based on the application type such as consumer electronics sector, automotive sector, industrial sector, data processing industry and military & aerospace sector. The consumer electronics sector is considered as one of the fastest growing segment in the with substantial revenue generation in the last few years. Growing popularity of field programmable gate array (FPGA) in the consumer electronics segment is attributed to the growing preference over application specific integrated circuit (ASIC) products. The military & aerospace sector segment has also witnessed substantial growth owing to the increasing demand for high-end technology aerospace sector and modernization of military.
The FPGA industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in consumer electronic sector, increase in the number of research & development activities in the region and existence of well-established industrial infrastructure. Asia-Pacific region is predicted to hold major market share in the field programmable gate array market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with rapid industrialization, growing manufacturing activities in the region, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the field programmable gate array (FPGA) industry are Maxim Integrated Products Inc., Qualcomm Inc., Altera Co., and Xilinx Inc.
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