11:01 AM The changing dynamics in Field Programmable Gate Array Market with covid-19 impact assessment |
| The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including Field Programmable Gate Array Market.
It was estimated prior to this unanticipated outbreak Field Programmable Gate Array Market will reach CAGR of 8.9% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Field Programmable Gate Array Market Insights
Field programmable gate array market is likely to witness an impressive CAGR of 8.9% during the forecast period. Increasing demand for advanced driver-assistance systems (ADAS), along with the growth of IoT, and faster time-to-market of FPGA than ASIC is the prime factor contributing to the demand for field programmable gate arrays. Growing demand for extensive computation including the increasing application of FPGAs for cloud computing and data processing in data centers are also one of the key growth factors. Rise in the demand for optimization in Big Data analytics is also one of the key drivers for the market, leading search engines, such as Google, and firms, such as Amazon and Walmart, which stem consumer insights based on Big Data analytics, are increasing their dependence on FPGAs. Additionally, increase in demand for smartphones and implementation of FPGA in mainstream embedded computing to build complex mission-critical systems are also creating heavy opportunities in the market.
Market Share Analysis
Field Programmable Gate Array Market Share: By Technology Type
Based on the technology type, the market is segmented as SRAM, EEPROM, antifuse, flash, and others. The SRAM (Static Random-Access Memory) segment held the largest share of the market in 2019. The dominance of the segment is mainly because it offers better flexibility, re-programmability, high integration, and high performance for various applications. SRAM-based field programmable gate arrays are widely adopted for aerospace & defense, telecom and wireless communication systems, and consumer goods applications which is contributing a healthy growth in the market.
Field Programmable Gate Array Market Share: By Application Type
Based on the application type, the field programmable gate array market is segmented as consumer electronics, automotive, industrial, data processing, aerospace & defense, telecom, and others. The telecom segment held the largest share of the market in 2019. The dominance of the segment is mainly due to vast usage of field programmable gate arrays in wireless communication and telecommunication applications for applications such as data packet switching, packet processing, and optical transport network. Advent of 5G network is likely to drive the growth of the segment as it offers configurability, flexible hardware accelerators, high-speed switching, and low latency operation at low costs.
Field Programmable Gate Array Market Share: By Region
In terms of regions, Asia-Pacific is estimated to be the largest market during the forecast period, with China, India, and Japan being the countries with lucrative growth opportunities. The growth of the region’s market is mainly driven by the presence of major semiconductor foundries such as Taiwan Semiconductor Manufacturing Company, Limited (TSMC), United Microelectronics Corporation (UMC), and Samsung Foundries in the region. The dependency of various industries on data centers and cloud-based computing technology is also contributing to the growth of the region’s market. The initiatives undertaken by countries to deploy 5G networking services in the region is a key growth factor for the market.
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