Field programmable gate array market size will experience high growth during 2021 to 2027 owing to increasing adoption of AI and IoT globally.
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The research report on field programmable gate array (FPGA) market, in substance, presents an exclusive understanding of the vast expanse of the business space in question. The report comprises a gist of the industry by means of providing an executive summary, industry insights, industry ecosystem analysis, market segmentation, and global trends. Furthermore, the study also provides deliverables pertaining to the regulatory and competitive landscapes and the strategic perspectives of various industry contenders with respect to the market.
Field programmable gate array (FPGA) is a semiconductor device used to build reconfigurable digital circuits. The escalating demand for sophisticated data processing on cloud platforms leading to large-scale integration of Bigdata analytics will primarily drive industry growth in the upcoming years. Battery-operated electric vehicles (EVs) heavily rely on FPGA circuits to maintain a constant supply of power and temperature across all the major components of the vehicle.
Growing demand for EVs across the globe will positively influence product adoption and industry growth. As per the IEA, the sale of electric cars topped 2.1 million globally in 2019, in which approximately 560,000 EVs were sold in Europe in the same year.
According to a Global Market Insights, Inc., report, global field programmable gate array (FPGA) market size is estimated to exceed US$15 billion by 2027. Slated below are some factors augmenting the demand for FPGAs in various industries.
Robust demand in enhancing data processing abilities
The field programmable gate array (FPGA) devices are designed to get reconfigured as per the precise computational requirements. High integration of these devices enhances the data processing capabilities of enterprises and cloud computing applications.
For example, Alibaba Cloud in October 2019, announced to integrate Intel’s Xeon FPGA Hybrid processors into its data analytics platform MaxCompute. The integration of hybrid processors enhanced Alibaba’s Bigdata performance, which allowed the company to render affordable cloud services.
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Growing applications of FPGAs in EVs/BEVs
The field programmable gate array market share of the mid-range FPGA configuration category was estimated at 35% in 2020, which is expected to expand at 15% CAGR between 2021 and 2027. High reliability, greater performance, compact design, and enhanced data security of the devices are some prime factors augmenting product use. The compatibleness of mid-range FPGAs to operate in high-temperature environments will boost their incorporation in electric vehicle/battery electric vehicle (EV/BEV) applications.
Owing to such benefits, these kinds of FPGAs are highly integrated into battery management units, electronic control unit (ECU), and power control units in EVs. The flourishing electric vehicle industry across Germany, China, Canada, and the U.S. will drive industry expansion to a large extent.
AI and robotic automation in industrial applications
The field programmable gate array market share form industrial application segment will witness a CAGR of more than 15% in the coming years. The growing deployment of smart factories across developed nations will primarily propel the applications of the product. For example, Schneider Electric in June 2019, introduced its maiden ExoStructure platform-based smart factory in the U.S., which leverages industrial internet of things (IIoT) technology to run process optimization.
There is increasing integration of AI and numerous robotics and automation equipment such as robotic arms, programmable logic controllers, human-machine interface, and others into various industrial equipment. It will positively influence the high adoption rate of FPGAs in a wide array of industrial applications.
Growing penetration of 5G networks in Europe
The Europe field programmable gate array market, which held over 20% of the global market share in 2020, is projected to grow at 12% CAGR between 2021 and 2027. The regional industry expansion is majorly attributed to the growing penetration of 5G network technology augmenting a substantial demand for infrastructure development in the telecom sector across the region.
As per the European 5G Observatory, there are 18 countries in EU-27 and the UK, who have successfully commercialized 5G services in these regions as of September 2020. In a view to deploy effective 5G telecommunication services, leading telecom operators in the region are increasingly adopting FPGA-based devices including modulators, telecom servers, advanced antenna systems, and others.
Leading companies functioning in the global field programmable gate array market are emphasizing on adopting growth strategies including collaborations, acquisitions, and mergers to lead the competitive market scenario. For instance, AMD had reportedly acquired Xilinx for US$35 billion in October 2020. This acquisition has established the firm as the major FPGA supplier and a prominent competitor of Intel Corporation.
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Source: MarketersMedia
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COMTEX_390153662/2773/2021-07-20T22:30:45
