Field Programmable Gate Array Market Size & Share Analysis - Growth Trends & Forecasts (2024–2029)

 The Field Programmable Gate Array (FPGA) Market reached a valuation of USD 6.9 billion last year and is projected to experience a CAGR of 10.32%, reaching USD 12.44 billion within the next five years. This growth is primarily driven by the extensive deployment of data centers and high-performance computing systems, significantly increasing the demand for FPGAs. An example is NTT's plan to introduce six data centers in India within the next three months, with an additional three in progress, demonstrating the industry's rapid expansion.

FPGAs are characterized by their programmable hardware fabric, offering a reconfigurable circuitry distinct from hard-etched ASICs or GPUs. They serve as a flexible alternative to ASICs, eliminating lengthy development periods and significant investment requirements for designing and fabricating custom circuits.

The technology industry extensively utilizes FPGAs for machine learning and deep learning applications. Microsoft Research pioneered the integration of AI on FPGAs a decade ago to accelerate web searches. Bing, Microsoft's search engine, also employs FPGAs in its production, achieving a 50% increase in search ranking throughput. However, despite their versatility, FPGAs are known for relatively higher power consumption compared to ASICs, posing a constraint on market growth.

The market growth is further driven by technological advancements for 5G networking infrastructure, witnessed through Ericsson's substantial investment in an energy-efficient 5G smart factory in Texas. Notably, industry players continue to invest in technological innovations, exemplified by Rapid Silicon securing USD 15 million to launch its inaugural low-end FPGA product and expand its presence in open-source software for commercial applications.

The COVID-19 pandemic significantly elevated the demand for data centers, AI, and machine learning, positively impacting FPGA requirements. This trend is expected to persist, fostering the importance of FPGAs across various industries.

Market Trends:

Increasing Demand for IoT to Propel Market Growth

FPGAs offer advantages for IoT due to their ability for parallel execution, particularly beneficial for continuously operating sensors like humidity and temperature detectors. The State of the IoT 2022 report indicates a rapid increase in connected IoT devices, projected to exceed 30 billion by 2025, significantly driving the demand for semiconductors and related components.

As the IoT device count surges, the need for smaller, energy-efficient chips intensifies. The semiconductor and sensor market for IoT devices is expected to reach USD 114.2 billion by 2025, emphasizing the focus on reduced energy consumption and chip miniaturization.

Ericsson's data underscores the substantial growth of short-range and wide-area IoT-connected devices, highlighting the substantial growth potential for IoT-related chip demand in the coming years.

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