Overview
The neuromorphic computing market is anticipated to witness healthy growth from 2019 to 2025, a research report suggests. Growing at a CAGR of 49.92%, the market is projected to reach US$648.40 million by 2025. Demand for AI and machine learning is expected to support the market growth along with favorable policies across regional markets. As predicted by analysts, the lack of knowledge will negatively affect the market’s performance from 2019 to 2025. During the forecast period, the market will be supported by growing use of software in different applications and the growing application areas.
Limited RD and complexity in designing on the other hand will challenge neuromorphic engineering sector based organizations functioning in the global neuromorphic computing market. Analysts have split the market into offering, end user, and application segments based on products and services. Neuromorphic engineering based companies have been profiled. The lack of demand from certain regional markets is set to affect the global market during the forecast period 2019 to 2025. The report also provides the market’s performance forecasts till 2025. Analysts have studied the strategy of neuromorphic engineering segment based organizations to help new entrants and established businesses. The neuromorphic engineering sector itself is supported by the increasing spending power of consumers as well as the availability of many untapped opportunities. During the forecast period 2019 to 2025, the neuromorphic computing market is set to witness a health growth across offering, end user, and application segments as well as regional markets.
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Market Segmentation
The neuromorphic engineering sector has seen growth across offering, end user, and application segments owing to the increasing preference of consumers and a rise in disposable income. To study the market, analysts have further segmented offering, end user, and application into software and hardware on the basis of offering. The market is further segmented into applications sub segment which is split into object detection, data mining, signal recognition, image recognition, and others. Additionally, the neuromorphic computing market on the basis of end users is segmented into aerospace and defense, automotive, consumer electronics, industrial, IT and telecommunications, and others.
The segmental analysis presented in the report provides neuromorphic engineering field based organizations insights into key growth factors such as the increasing demand from various industry verticals as well as challenges such as the lack of investments the market will face from 2019 to 2025. High demand across industry verticals and the rapidly growing population are some of the key factors having an influence on neuromorphic engineering industry based companies, suggest analysts as per the neuromorphic computing market report. But the report also identifies concerns regarding high costs and the lack of skilled human resource as major threats companies in neuromorphic engineering will face till 2025.
Regional Overview
Neuromorphic engineering market based companies in the neuromorphic computing market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. The growing urbanization will be a key growth driver for regional markets. However, demand and supply gaps will turn out to be a threat. For the forecast period 2019 to 2025 each of these regional markets are studied in the report. Starting from North America, the regional market and neuromorphic engineering vertical based companies are spread across the United States, Canada, and Mexico. High initial investments will turn out to be a major challenge from 2019 to 2025. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by high demand across industry verticals as well as the increasing demand from various industry verticals, suggests the report. Similarly, the neuromorphic engineering sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the neuromorphic computing market covers the Middle East and Africa. Forecast based on the report’s findings are presented for the forecast period till 2025.
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Competitive Landscape
The global neuromorphic computing market research report brings a comprehensive study of offering, end user, and application market segments, regional analysis, and neuromorphic engineering vertical based company details of key players. As the forecast period 2019 to 2025 will bring new opportunities for the market owing to the changing social behaviour and technological developments, the market is set to grow at a compound annual growth rate of 49.92% and is predicted to reach a value of US$648.40 million by 2025. With SWOT analysis of neuromorphic engineering sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as the unavailability of professional services and low research and development budgets, companies in the neuromorphic engineering sector can change the way business is done.
Industry News
Intel has a number of irons in the AI pool, including Xeon CPUs, Movidius machine vision chips, MobileEye chips for autonomous driving, and the recently acquired Habana Laboratories' Deep Neural Network simulation and inference processing technologies. With so much going on, it's easy to see why Intel is following yet another strategy: neuromorphic computing. For the uninitiated, neuromorphic computing is a form of computing that mimics the spiking functions of neurons in biological nervous systems. Intel Laboratories organised a press and investor forum this week to help us all understand what the organisation is doing in this interesting space and why.
