Massive Growth for the FPGA Market
According to a new report published by Global Market Insights, the global Field Programmable Gate Array (FGPA) market is forecast to experience rapid growth, reaching $13 Billion by 2026. Technological advancements and innovations in the FPGA field are likely to be key contributors to growth during the forecast period. In addition, the rise in the number of strategic collaborations and partnerships, combined with the development of new products are expected to accelerate growth in coming years. The rising number of applications and product enhancements are also likely to drive future the market. Key players operating in the FPGA market are Altera Corporation, Microsemi Corporation, Xilinx Inc., and Lattice Semiconductor Corporation.
In 2013, the global FPGA market was valued at US$5,487.2 million, and is predicted to reach US$9,734.4 million by the end of 2020, registering a strong growth rate. Previously, Asia Pacific led the global FPGA market and is estimated to remain dominant in the coming years. An increasing contribution from South Korea, India, and China, and the rapid development of the electronic industry are estimated to support the development of the Asia Pacific market in the near future.
Increasing Use of IoT to Drive Global FPGA Market in Near Future
The rise in the demand for advanced driver assistance system is an important factor that is predicted to encourage the development of the global market over the forecast period. A substantial rise in the adoption of the Internet of Things is another factor that is likely to support the growth of the overall market in the coming few years. In addition to this, the increasing need for wireless communication is expected to offer immense growth opportunities for the market players across the globe.
Furthermore, the key players in the market are making investment for research and development activities, which is predicted to support the market growth and attract a large number of consumers in the coming few years. Moreover, the reduction in the time-to-market is likely to accelerate the growth throughout the forecast in the near future. These factors are likely to help the key players in expanding their product horizon, thus accelerating the market growth in the near future.
Lack of Standardised Verification Methods to Curb Market Growth
On the other hand, it is thought that the global FPGA market will face several challenges, which are projected to restrict the growth of the market in the near future. The absence of standardized verification techniques and the incapability of FPGA to substitute the basic devices are likely to restrict the overall growth throughout the forecast period. Nonetheless, the increasing use of FPGA in data centers is anticipated to propel the global FPGA market in the next few years.