LONDON--(BUSINESS WIRE)--The field-programmable gate array (FPGA) market is expected to grow by USD 1.97 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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Globally, the demand for smartphones has increased significantly over the years. This can be attributed to the increasing availability of low-cost smartphones in emerging markets such as China and India and the rising penetration of the internet. In 2019, nearly 1.37 billion smartphones were shipped across the globe. FPGAs are widely used in several applications in smartphones, such as performance optimization. They also play a crucial role in fulfilling the essential function of smartphones, including cellular transmission of content such as voice and text. Therefore, the increasing adoption of smartphones will fuel the growth of the global field-programmable gate array market during the forecast period.
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As per Technavio, the development of efficient FPGAs will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Field-Programmable Gate Array Market: Development of Efficient FPGAs
The development of advanced designing tools such as C-code has enabled FPGA manufacturers to increase the functionality of devices. Besides, the use of OpenCL, a parallel programming industry standard software, has allowed C-code to accelerate the performance in FPGAs. Also, advances in fundamental design architecture and software designs have increased the use of FPGAs in microprocessors. Moreover, the use of FPGAs as microprocessors in applications such as data centers is providing significant growth opportunities for market vendors. Many such developments are positively influencing the growth of the global field-programmable gate array market.
“Increased proliferation of IoT and the rising demand for optimization in big data analytics will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Field-Programmable Gate Array Market: Segmentation Analysis
This market research report segments the field-programmable gate array market by type (high-end FPGA, mid-end FPGA, and low-end FPGA), application (telecommunication, industrial, automotive, consumer electronics, and others), and geography (APAC, North America, Europe, South America, and MEA).
The APAC region led the field-programmable gate array market in 2019, followed by North America, Europe, South America, and MEA respectively. During the forecast period, APAC is expected to register the highest incremental growth due to the increasing demand for consumer electronics in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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