Field programmable gate arrays (FPGAs) are integrated circuits that are designed to be configured by the customer or designer after manufacturing. FPGAs allow designers to produce custom logic circuits and accelerate specialized algorithms for tasks such as AI and machine learning. As FPGAs provide higher computation power, lower costs, and shorter time-to-market compared to application-specific integrated circuits, they are increasingly being used in a wide range of applications including machine vision, autonomous vehicles, robotic process automation, and data centers.

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 key Trends:

The growing adoption of AI and machine learning techniques across industries is majorly driving the growth of the field programmable gate array market. FPGAs provide a higher degree of flexibility, adaptability, and portability for AI and machine learning algorithms compared to other hardware platforms. For instance, FPGAs can be easily reprogrammed to change the algorithm and model with real-time data. This ability makes FPGAs a preferred platform for AI edge devices and applications. Furthermore, increasing investments by market players in AI chip startup companies focusing on FPGAs is also expected to boost the market growth over the forecast period.

Porter’s Analysis

Threat of new entrants: The FPGA market requires high initial investments to design and manufacture chips, creating entry barriers for newcomers.
Bargaining power of buyers: Large technology firms have significant bargaining power over FPGA vendors due to their high purchasing volumes.
Bargaining power of suppliers: A few large foundries dominate the fabrication of FPGA chips, giving them stronger negotiating positions.
Threat of new substitutes: No direct substitutes currently offer the flexibility and reprogramming capabilities of FPGAs. However, application-specific integrated circuits pose a threat in specific use cases.
Competitive rivalry: Key FPGA players vigorously compete based on product performance, pricing, features and customer support to gain market share.

Key Takeaways

The global Field Programmable Gate Array Market Share is expected to witness high growth during the forecast period.

Regional analysis:

North America is forecasted to dominate the FPGA market through 2030 due to growing adoption across telecommunications, data centers and industrial automation applications in the region. Asia Pacific is expected to grow at the fastest pace led by increasing manufacturing activity and government initiatives in countries such as China and India.

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. These companies focus on new product launches and enhancing their existing portfolios to gain a competitive advantage over other market players.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it