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Global Field Programmable Gate Array Market Report 2023: Increased Use of FPGA in Radio Astronomy Boosts GrowthDUBLIN, March 9, 2023 /PRNewswire/ -- The "Global Field Programmable Gate Array Market: Analysis By Configuration, By Technology, By Application, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028" report has been added to ResearchAndMarkets.com's offering. The global field programmable gate array (FPGA) market was valued at US$7.87 billion in 2022 and is expected to be worth US$14.16 billion in 2028. The increasing demand for high-performance computing and data processing is one of the key drivers of the FPGA market. FPGAs are ideal for use in data centers where high-speed processing is required because they can be programmed to perform specific tasks or algorithms. FPGAs can also be used in artificial intelligence (AI) and machine learning (ML) applications, which are growing rapidly. The market is expected to grow at a CAGR of 10.28% over the projected period of 2023-2028. Market Segmentation Analysis:
Growth Drivers: One of the key drivers of the market's expansion is the growth in increasing adoption of ADAS and in vehicle infotainment. ADAS and IVI systems rely heavily on high-performance processors that can handle complex algorithms and real-time data processing. FPGAs offer a flexible and high-performance solution for these requirements, making them an ideal choice for use in these applications. In ADAS, FPGAs are used to accelerate the processing of image and sensor data from cameras and radar systems. These systems use computer vision algorithms to analyze the data and detect objects on the road, such as other vehicles, pedestrians, and obstacles. FPGAs can perform these computations in real-time, making them an essential component of ADAS systems. In IVI systems, FPGAs can be used for various functions such as processing high-definition video streams, controlling the infotainment system, and managing communication between different devices in the car. FPGAs also offer significant advantages over traditional processors, such as low latency and power consumption. Therefore, the increasing adoption of ADAS and IVI systems are driving the growth of the FPGA market. Other significant growth factors of the market include growing demand for IoT, increasing penetration of 5G, increased use of FPGA in radio astronomy, rising adoption of FPGA in data centers, increasing demand for cyber security and growing finance, trading, and insurance sectors. Challenges: However, some challenges are impeding the growth of the market such as high costs and hidden bugs in FPGAs. Field-programmable gate arrays (FPGAs) are integrated circuits that can be programmed to perform specific functions, making them highly versatile in a variety of industries, including telecommunications, automotive, aerospace, and consumer electronics. The high development costs associated with designing and programming FPGAs have been identified as a factor hampering the growth of the FPGA market. The development of FPGA involves a complex design process that requires a high level of expertise in digital circuit design and computer engineering. The initial design and programming of FPGA can be time-consuming and expensive, as it requires the use of specialized hardware and software tools. Additionally, FPGAs often require customization for specific applications, which can add to the development costs. Moreover, the costs associated with producing FPGA-based systems can also be high due to the need for additional components and infrastructure to support the FPGA. Trends: The market is projected to grow at a fast pace during the forecast period, due to increasing proliferation of artificial intelligence (AI), integration of FPGA in cloud computing and Infrastructure-as-a-Service (IaaS), rising demand for FPGAs in high bandwidth devices, integration of FPGA in robotics and advancements in FPGA based embedded system technology. The proliferation of Artificial Intelligence (AI) is driving the growth of the Field-Programmable Gate Array (FPGA) market due to its ability to provide high-performance hardware acceleration for AI applications. As AI algorithms become more complex, traditional processors struggle to keep up with the computational demands, leading to the need for specialized hardware that can handle the massive amounts of data that need to be processed. FPGAs are a type of programmable logic device that can be reconfigured to perform specific tasks, making them ideal for implementing custom logic designs for AI applications. FPGAs are also highly parallel, allowing for the execution of multiple tasks simultaneously, which is critical for AI workloads that require massive parallelism. As the demand for AI applications grows, the FPGA market is expected to continue to expand, driven by the need for specialized hardware that can deliver high performance and low latency for these applications. Competitive Landscape: Global field programmable gate array (FPGA) market is highly consolidated in nature. Companies are focusing on R&D to develop technologically advanced products in order to gain competitive advantage, and they are also engaging in partnerships, mergers, and acquisitions in order to strengthen their product portfolio, manufacturing capacities, and provide competitive differentiation. For example, in April 2019, Intel Corporation acquired Omnitek, a provider of vision field programmable gate array IP solutions based in England. The key players in the global field programmable gate array (FPGA) market are:
Suppliers are adopting the fabless strategy, which allows them to gain access to fabrication facilities without incurring significant capital investment. Fabless firms can outsource FPGA production and devote their time, resources, and efforts to developing new ideas, conducting research, and improving their marketing tactics in order to increase their sales. Key Topics Covered: 1. Executive Summary For more information about this report visit https://www.researchandmarkets.com/r/d8wnmb About ResearchAndMarkets.com Media Contact: Research and Markets For E.S.T Office Hours Call +1-917-300-0470 U.S. Fax: 646-607-1904 Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg View original content:https://www.prnewswire.com/news-releases/global-field-programmable-gate-array-market-report-2023-increased-use-of-fpga-in-radio-astronomy-boosts-growth-301767816.html SOURCE Research and Markets |