Programmable Silicon Is Estimated To Witness High Growth Owing To Increasing Demand for Flexible Chips
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| Programmable silicon market |
The Programmable silicon market is estimated to be valued at US$ 91.13 Bn in 2023 and is expected to exhibit a CAGR of 12.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The programmable silicon market finds wide applications in consumer
electronics, industrial, automotive, medical, aerospace & defense and
telecommunications. Programmable silicon chips provide flexibility and enable
quicker response to evolving market conditions and technology changes compared to
traditional hardwired chips. This has increased their demand across different
industries.
Market Overview:
Programmable silicon chips offer flexibility to modify or reconfigure chip
functionality after manufacturing, which makes them suitable for applications
that require rapid prototyping or adapting to changing standards. Products like
field programmable gate arrays (FPGAs) are extensively used to develop complex
digital circuits in industries like telecommunications and data centers that
require frequent hardware updates.
Market Dynamics:
The key drivers fueling growth of programmable silicon market are increasing
demand for flexible chips and growing adoption of FPGAs. Programmable silicon
chips provide flexibility to change or update chip functionality according to
changing needs without the need for a new design or manufacturing process. This
has increased their adoption across different industries where applications
require frequent updates. Additionally, growing demand for high performance
computing from data centers is also driving usage of efficient programmable
chips like FPGAs. However, high costs associated with programmable silicon
devices and availability of cheaper ASIC alternatives are some of the factors
that may restrain market growth.
SWOT Analysis
Strength: The programmable silicon market has grown rapidly over the past few
years due to increasing demand for field-programmable gate array (FPGA) and
complex programmable logic devices (CPLD). Major players in this market offer a
wide range of configurable logic blocks and embedded processors in their
offerings. Programmable silicon devices provide high flexibility and
reprogrammability which helps end-users customize products as per their
requirements.
Weakness: Design complexity is one of the major challenges for programmable
silicon. Developing complex SoC designs require high programming skills which
increases costs. Moreover, power consumption is relatively higher in
programmable silicon compared to application-specific integrated circuits
(ASICs).
Opportunity: Rising adoption of AI, machine learning, and edge computing across
industries is presenting significant growth opportunities for programmable
silicon vendors. Also, growing demand for autonomous vehicles and IoT
applications will drive the need for efficient and customizable semiconductor
solutions.
Threats: Availability of cheaper alternatives like ASICs and increased
commodity pressures can reduce profit margins for programmable silicon vendors.
Additionally, tightening regulations around data privacy and security pose
compliance challenges.
Key Takeaways
The Global
Programmable Silicon Market is expected to witness high growth,
exhibiting CAGR of 12.% over the forecast period, due to increasing adoption of
AI and IoT technologies across industry verticals. The growing need for
specialized and flexible computing solutions at the network edge is a major
driver boosting market revenues.
Regional analysis
North America dominated the global market in 2023, accounting for around 35%
share. Rapid establishment of 5G infrastructure and strong presence of leading
semiconductor players in the US and Canada support the regional market growth.
Asia Pacific exhibits highest growth and is projected to surpass North America
by 2030 backed by rising electronic imports in China and semiconductor
manufacturing hub status of several APAC countries.
Key players
Key players operating in the Programmable Silicon market are Xilinx (part of
Advanced Micro Devices Inc), Intel Corporation (formerly Altera), Lattice
Semiconductor Corporation, Microchip Technology Inc., Achronix Semiconductor
Corporation, QuickLogic Corporation, Efinix Inc, Microsemi Corporation (a
subsidiary of Microchip Technology Inc.), S2C Inc., Flex Logix Technologies
Inc, Gowin Semiconductor Corp., Synopsys Inc, Tabula (now part of Mellanox
Technologies), Enpirion (a division of Altera, now Intel), Analog Devices Inc.
These companies are focusing on new product launches and strategic partnerships
to gain more market share.
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