July 16, 2024
Ict

Programmable Silicon Market to Grow Substantially With Rise in Number of IoT and Connected Devices

Programmable Silicon Market

Overview:

Programmable silicon refers to versatile semiconductor components that can be customized and reconfigured after manufacturing. This adaptability enables the creation of specialized hardware solutions for various applications, such as IoT devices, telecommunications, and consumer electronics. It offers the advantage of quicker development cycles and flexibility in meeting evolving industry demands while allowing for post-production adjustments to optimize performance and functionality.

Market Dynamics:

The rise in IoT and connected devices is anticipated to fuel the growth of the global programmable silicon market over the forecast period. The growing adoption of Internet of Things (IoT) devices and connected technologies across various industries is driving the demand for programmable silicon. These devices require flexible and adaptable hardware that can be customized to specific applications, making programmable silicon an essential component. For instance, in June 2023, Qualcomm introduced novel satellite IoT solutions aimed at ensuring continuous remote monitoring and tracking of assets.

Among various other factors, higher costs are likely to impede the growth of the global programmable silicon market during the forecast period. Programmable silicon can be more expensive than traditional application-specific integrated circuits (ASICs) due to the added complexity and flexibility.

Impact of COVID-19:

The COVID-19 pandemic initially disrupted the programmable silicon market, causing supply chain disruptions and delaying product launches. However, as remote work and digital transformation accelerated, demand for programmable solutions surged. Industries such as healthcare, e-commerce, and telecommunications relied on programmable silicon for flexible and adaptable hardware solutions. The pandemic underscored the importance of agile technologies, driving the market’s recovery and growth as companies sought versatile solutions to address evolving needs.

Key Takeaways:

  • The global Programmable Silicon Market is anticipated to grow with a CAGR of 12.5 % during the forecast period, due to increasing product launches by market players to gain a competitive edge in the market. For instance, in February 2023, Intel unveiled the Agilex FPGA family, representing a significant advancement. Engineered to offer enhanced scalability and efficiency compared to its predecessors, the Agilex family caters to a diverse array of applications such as networking, data centers, and artificial intelligence.
  • North America region is anticipated to show major growth in the global programmable silicon market over the forecast period, owing to the region’s concentration of technology hubs and innovation centers. The presence of numerous tech giants, startups, and research institutions fosters a highly competitive environment that drives the development and adoption of programmable silicon solutions. Additionally, the region’s diverse industries, including aerospace, automotive, and telecommunications, leverage programmable silicon to stay at the forefront of technological advancements, contributing to the sustained growth of the market in North America.
  • Major players operating in the global programmable silicon market are Analog Devices Inc., Xilinx (part of Advanced Micro Devices Inc.), Enpirion (a division of Altera, ┬ánow Intel), Intel Corporation (formerly Altera), Tabula (now part of Mellanox Technologies), Lattice Semiconductor Corporation, Synopsys Inc., Microchip Technology Inc., Gowin Semiconductor Corp., Achronix Semiconductor Corporation, Flex Logix Technologies Inc., QuickLogic Corporation, S2C Inc., Efinix Inc., and Microsemi Corporation (a subsidiary of Microchip Technology Inc.)