by Programmable silicon refers to a form of customizable integrated circuits that can be flexibly programmed after manufacturing to perform various logic and arithmetic functions. It is an umbrella term referring to devices such as field programmable gate arrays (FPGAs), programmable array logic (PAL), and programmable logic devices (PLDs). These devices offer significant advantages over fixed-function integrated circuits as they can be used for various applications by changing functionality through software without having to design an entirely new hardware circuit. Programmable silicon devices are finding widespread use across industries for rapidly prototyping and developing customized semiconductors, reducing product development time and costs. In the automobile sector, they are used for developing safety-critical systems such as advanced driver-assistance systems and autonomous driving control modules. Rapid advances in artificial intelligence and machine learning have also boosted the adoption of programmable silicon as they provide flexibility required to develop and refine algorithms.
The global Programmable Silicon Market is estimated to be valued at US$ 104.99 Bn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the programmable silicon market Size is the increasing development of adaptive computing hardware for machine learning workloads. The emergence of machine learning and deep learning has created a significant demand for flexible computing platforms that can adapt as algorithms evolve. Programmable silicon devices such as FPGAs offer reconfigurability that makes them well-suited for machine learning compute needs. Major FPGA vendors are innovating their product offerings to better support complex machine learning workloads. For instance, in 2022, Intel launched its Agilex FPGA family that features dedicated machine learning accelerators and a convolution engine optimized for computer vision tasks. Such hardware advancements are expected to further increase the adoption of programmable silicon in domains involving artificial intelligence and data analytics.
Porter’s Analysis
Threat of new entrants: The programmable silicon market requires significant R&D investment which acts as a barrier for new companies. Bargaining power of buyers: Large buyers in the medical device industry have significant bargaining power due to the fragmented nature of this market.
Bargaining power of suppliers: A few large suppliers exist for programmable silicon which gives them some control over pricing.
Threat of new substitutes: No direct substitutes exist for programmable silicon however, alternative technologies could emerge.
Competitive rivalry: The programmable silicon market is highly competitive with companies competing based on technology, innovation, customization and pricing.
Key Takeaways
The global programmable silicon market is expected to witness high growth over the forecast period of 2024 to 2031. The global Programmable Silicon Market is estimated to be valued at US$ 104.99 Bn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2031.
North America is expected to dominate the market over the forecast period owing to a large presence of leading medical device manufacturers in countries like the US. The presence of major players and technological advancements in the region are contributing to market growth. Asia Pacific is anticipated to grow at the fastest rate due to rising medical expenditure and increasing acceptance of advanced technologies.
Key players
Key players operating in the programmable silicon market are Becton, Dickinson and Company, B. Braun Melsungen AG, Nipro Corporation, ICU Medical, Inc., Baxter International Inc., Terumo Corporation, Smiths Medical, Fresenius Kabi AG, Eli Lilly and Company, JMS Co. Ltd., and NewIV Medical, Inc. Companies are focusing on developing innovative programmable silicon solutions to gain a competitive advantage.
