PUBLISHER: Grand View Research | PRODUCT CODE: 1301287
PUBLISHER: Grand View Research | PRODUCT CODE: 1301287
The global field programmable gate array market size is expected to reach USD 23.34 billion by 2030, expanding at a CAGR of 10.8% from 2023 to 2030, according to a new study by Grand View Research, Inc. The growing implementation of Field Programmable Gate Array (FPGA) in several areas, such as the Internet of Things (IoT), data centers, and networking, is projected to augment the market growth over the forecast period. Furthermore, the automotive industry is poised to capitalize on the capabilities of FPGAs to integrate neural networks into intelligent vehicle systems, enhance battery management, optimize power conversions, and improve electric motor control systems for Electric Vehicles (EV) and Hybrid-Electric Vehicles (HEV). These emerging trends are expected to stimulate the expansion of the field programmable gate array market.
Moreover, the increasing application of the FPGAs in the aerospace and military sector to develop drone systems for flight control, sensor interfacing, and image processing is driving the industry growth. For instance, in March 2022, Intel Corporation, an American technology company, launched their M-series FPGAs with highest memory bandwidth along with the ability to offer enhanced performance and low-power consumption, which is expected to benefit different industries, such as data centers, aerospace & defense, among others. These enhanced product developments by key players are expected to drive the field programmable gate array market growth over the forecast period.
Several companies operating in the field programmable gate array market focus on launching new products and updated versions to cater to the larger customer base and to strengthen their foothold in the industry. For instance, in February 2023, QuickLogic Corporation launched a new version of their Aurora embedded FPGA development tool suite, Aurora 2.1. This new suite is constructed on a fully open-source implementation for full code transparency, longevity, scalability, and flexibility. Such initiatives are anticipated to augment the market growth over the forecast period.