FPGAs have programmable logic blocks and interconnects that can be configured to implement any digital circuit. The two major FPGA manufacturers are Xilinx and Altera, who together make up 89% of the market. FPGAs have advantages over other technologies like microprocessors in being reprogrammable, having massively parallel processing, and shorter design times. They also have advantages over ASICs by being reprogrammable and having lower costs with no minimum orders. Common FPGA architectures include lookup table-based, multiplexer-based, and sea-of-gates designs. Key components of FPGAs include configurable logic blocks, interconnects, and input/output blocks.