Global Field Programmable Gate Array Market Report, published by Variant Market Research, forecast that the global market is expected to reach $12.1 billion by 2024 from $6.9 billion in 2016, growing at a CAGR of 7.3% from 2016 to 2024. Major factors driving the global field programmable gate array market are efficiency of FPGAs over ASICs and growth in importunity across various industries. However, designing complexities may hinder the market growth in coming year. Technological advancement would unfold attractive business opportunities for the market in the near future.
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The global field programmable gate array market is bifurcated on the basis of product type and application. By product type, the market is further categorized into Flash based, SRAM, and antifuse. By application, the market is further segmented into, automotive, industrial, military & aerospace, consumer electronics, data processing, telecom, and others. By product type, SRAM segment accounted for more than two third of the global market share in the year of 2016. The telecom segment generated the highest revenue in the total application segment in 2016, owing to rising adoption of 3G and 4G LTE services across the globe.
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Geographically the market is bifurcated into North America, Europe, Asia-Pacific, and Rest of the World (RoW). Asia-Pacific accounted for the largest market share of 39.7% in the year of 2016, and is anticipated to continue its dominance during the upcoming year. The growth is majorly seen due to the increasing adoption of FPGA solutions across several sectors such as telecommunication, medical, consumer electronics, and automotive. North America accounted for the second largest market share of 27.8%, owing to rising in number of online network users and mobile network operators.
Key market players include Altera Corporation, Lattice Semiconductor Corporation, Cypress Semiconductor Corporation, Xilinx Inc., Microsemi Corporation, Atmel Corporation, Texas Instruments, Intel Corporation, Achronix Semiconductor Corp, and Cobham Plc, among others.
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