by The global Field Programmable Gate Array (FPGA) Market is estimated to be valued at US$6,958.2 million in 2021 and is expected to exhibit a CAGR of 8.9% over the forecast period from 2023 to 2030, according to a new report published by Coherent Market Insights.
Market Overview:
Field Programmable Gate Array (FPGA) is an integrated circuit that can be programmed and configured by the user after manufacturing. They provide flexibility, reconfigurability, and high-performance capabilities, making them suitable for a wide range of applications. The advantages of FPGA include the ability to develop and modify circuits without redesigning the hardware, reduced time-to-market, and cost savings. The increasing need for customizable and reconfigurable integrated circuits in various industries is driving the demand for FPGA.
Market Key Trends:
One key trend in the Field Programmable Gate Array market is the growing adoption of FPGA in the automotive industry. With the increasing complexity of automobile electronics and the demand for advanced driver-assistance systems (ADAS) and autonomous vehicles, FPGA offers a flexible and scalable solution. FPGA can be used to implement complex algorithms, real-time processing, and sensor fusion in automotive applications. Additionally, FPGA provides high-performance computing capabilities, enabling faster data processing and reduced power consumption in automotive systems. The rising adoption of FPGA in the automotive industry is expected to fuel market growth in the coming years.
Porter’s Analysis
Threat of New Entrants:
The threat of new entrants in the field programmable gate array (FPGA) market is low due to high barriers to entry. The development costs and technical expertise required to enter the market act as significant barriers for new players. Additionally, established companies already hold a major portion of the market share, making it difficult for new entrants to compete.
Bargaining Power of Buyers:
The bargaining power of buyers in the FPGA market is moderate. While buyers have the option to choose from a range of suppliers, the oligopolistic nature of the market limits their power to negotiate prices. However, as the market becomes more competitive, buyers may gain more leverage in the future.
Bargaining Power of Suppliers:
The bargaining power of suppliers in the FPGA market is moderate. Suppliers have the ability to control prices and supply based on their market position and the availability of alternatives. However, the presence of multiple suppliers and the availability of substitute components can slightly reduce their bargaining power.
Threat of New Substitutes:
The threat of new substitutes in the FPGA market is low. FPGA technology offers unique benefits such as flexibility, high performance, and low power consumption, which are not easily replicated by alternative technologies. As a result, the demand for FPGA is expected to remain strong in various application areas.
Competitive Rivalry:
The competitive rivalry in the FPGA market is high. The market is dominated by a few key players including Xilinx Inc. (AMD Corporation), Intel Corporation, Quicklogic Corporation, GOWIN Semiconductor Corporation, Microchip Technology Incorporated, Lattice Semiconductor Corporation, Efinix Inc., and Achronix Semiconductor Corporation. These companies compete on factors such as product innovation, performance, and pricing. The intense competition in the market drives companies to continuously improve their offerings and differentiate themselves from competitors.
Key Takeaways
The Global FPGA Market Size is expected to witness high growth, exhibiting a CAGR of 8.9% over the forecast period. This growth can be attributed to increasing demand for FPGA in various sectors such as telecommunications, automotive, industrial, and consumer electronics. The ability of FPGA to offer reprogrammability, high processing speeds, and low power consumption has resulted in its widespread adoption across these industries.
In terms of regional analysis, Asia Pacific is the fastest-growing and dominating region in the FPGA market. The region is witnessing significant growth due to the presence of major semiconductor manufacturers and the increasing demand for electronic devices in countries like China, Japan, and South Korea. The expanding automotive and telecommunications sectors in the region are also driving the demand for FPGA.
Key players operating in the FPGA market include Xilinx Inc. (AMD Corporation), Intel Corporation, Quicklogic Corporation, GOWIN Semiconductor Corporation, Microchip Technology Incorporated, Lattice Semiconductor Corporation, Efinix Inc., and Achronix Semiconductor Corporation. These companies are investing in research and development to introduce advanced FPGA solutions with better performance and enhanced features. They are also focusing on strategic partnerships and acquisitions to expand their market share and gain a competitive edge.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
