Market Overview:
The global Neuromorphic Chip Market is estimated to be valued at US$26.78 million in 2022 and is expected to exhibit a CAGR of 67.3% over the forecast period of 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Neuromorphic chips are specialized electronic circuits that mimic the structure and functioning of the human brain. These chips are designed to perform complex cognitive tasks more efficiently than traditional processors, enabling advancements in fields such as machine learning, artificial intelligence, and robotics. The market for neuromorphic chips is driven by the increasing demand for faster, energy-efficient computing solutions, especially in applications requiring real-time processing and analysis of massive amounts of data.
Market Key Trends:
One key trend in the neuromorphic chip market is the growing adoption of these chips in autonomous vehicles. With the development of self-driving cars, the need for high-performance computing systems capable of processing and interpreting sensor data in real-time has become crucial. Neuromorphic chips offer significant advantages in terms of power efficiency and parallel processing capabilities, making them ideal for the demanding requirements of autonomous vehicles. These chips can enable vehicles to recognize and respond to various road conditions, identify objects and obstacles, and make split-second decisions, enhancing overall safety and performance.
Leading players in the neuromorphic chip market include IBM Research, Inc., Knowm Inc., Intel Corp., BrainChip Holdings Ltd., General Vision Inc., HRL Laboratories, LLC, Qualcomm Technologies Inc., and Hewlett Packard Labs.
Segment Analysis
The segment analysis of the neuromorphic chip market reveals that the dominant sub-segment is the data processing and analytics segment. This segment is expected to have the highest growth rate and dominate the market over the forecast period. The increasing demand for advanced data processing and analytics capabilities in various applications such as robotics, artificial intelligence, and internet of things (IoT) is driving the growth of this segment. Neuromorphic chips, with their ability to mimic the functioning of the human brain and provide highly efficient data processing and analytics, are finding extensive use in these applications.
Another factor contributing to the dominance of the data processing and analytics segment is the growing need for real-time processing of large volumes of data. With the proliferation of connected devices and the rapid growth of data generated from these devices, there is a need for faster and more efficient data processing solutions. Neuromorphic chips offer a viable solution by providing parallel processing capabilities, low power consumption, and high speed.
Key Takeaways
The global Neuromorphic Chip Market is expected to witness high growth, exhibiting a CAGR of 67.3% over the forecast period of 2023-2030. This growth can be attributed to several factors. Firstly, the increasing demand for artificial intelligence and machine learning applications in various industries, such as healthcare, automotive, and gaming, is driving the adoption of neuromorphic chips. These chips enable faster and more efficient processing of complex algorithms, leading to improved performance and accuracy in AI-based systems.
Secondly, the rising need for energy-efficient computing solutions is also fueling the growth of the neuromorphic chip market. Traditional computing architectures, such as the von Neumann architecture, are becoming increasingly inefficient due to their reliance on sequential processing. Neuromorphic chips, on the other hand, are designed to perform parallel processing, similar to the human brain. This parallel processing capability enables significant energy savings and better performance, making neuromorphic chips a preferred choice for energy-conscious industries.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the global neuromorphic chip market. The presence of key players such as IBM Research, Inc., Intel Corp., and Qualcomm Technologies Inc. in this region is driving the growth. Additionally, the region has a strong focus on research and development activities related to AI and machine learning, further contributing to the market growth.
Key players operating in the neuromorphic chip market include IBM Research, Inc., Knowm Inc., Intel Corp., BrainChip Holdings Ltd., General Vision Inc., HRL Laboratories, LLC, Qualcomm Technologies Inc., and Hewlett Packard Labs. These players are actively involved in research and development activities to enhance the capabilities of neuromorphic chips and cater to the increasing demand from various industries.
Neuromorphic Chip Market 2021-2026New Study Reports " The Global Neuromorphic Chip Market Industrial Analysis, Market Dynamics, Growth Analysis, Regional Analysis, Size, Share, and Forecast 2021- 2026" has been Added on MarketResearchFuture.Market OverviewThe study of market analysis of the global Neuromorphic Chip market focuses on the key elements and the market dynamics of a specific market within that industry.
With the help of the report analysis, every new or established manufacturer can gain knowledge about the business strategies and planning by the significant key marketers who are having a strong base.
The documentation is prepared by investigating the company’s activities related to their planning, decision making, purchase, capital investment, innovation, workforce, business expansion strategy, facility expansion, promotional activities, and many other aspects of a company.Market Dynamics of The Global Neuromorphic Chip MarketThe rising awareness among the global population for the product benefit tends to increase the production of a product of the global Neuromorphic Chip market in a positive way.
This report also analyzes the impact of Coronavirus COVID-19 on the Neuromorphic Chip industry.Neuromorphic computing models the way the brain works through spiking neural networks.
Neuromorphic computing is expected to completely transform the technology industry from programming languages to hardware.Conventional computing is based on transistors that are either on or off, one or zero.
Neuromorphic systems can be either digital or analogue, with the part of synapses played by either software or memristors.Key PlayersThe report has profiled some of the Important players prevalent in the global like – Hewlett Packard Enterprise, Samsung Electronics Limited, Intel Corp., HRL Laboratories, LLC, General Vision Inc., Applied Brain Research, Inc., Brainchip Holdings Ltd., aiCTX AG, Qualcomm, IBM, Nepes Corp., Innatera, MemComputing, INSTAR Robotics, Ceryx Medical, and Koniku and more.This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Neuromorphic Chip.Complete Report Details@ https://www.marketresearchfuture.com/reports/neuromorphic-chip-market-10516According to Market Research Future, the global neuromorphic Chip Market has been segmented based on application, vertical, and region.By application, the market has been segmented into image recognition, signal recognition, data mining.By vertical, the market has been segmented into aerospace & defense, IT & telecom, automotive, medical, industrial, others.
Neuromorphic Computing Market HighlightsGlobal Neuromorphic Computing Market was valued at USD 42.08 Million in 2018 and is estimated to reach a market value of USD 648.40 Million by 2025 growing at a CAGR of 49.92% during the forecast period 2019–2025.The Global Neuromorphic Computing Market is growing at a significant rate, and the trend is expected to continue during the forecast period.
The key players operating in the global neuromorphic computing market are heavily investing to offer enhanced computing capabilities and lower the power consumption with the help of neuromorphic chips.Neuromorphic Computing Market Prominent PlayersSome of the Prominent Players in the Global Neuromorphic Computing Market are IBM Corporation (US), Intel Corporation (US), Applied Brain Research (Canada), SAMSUNG (South Korea), BrainChip Holdings Ltd (Australia), Hewlett Packard Development LP (US), HRL Laboratories (US), Qualcomm Incorporated (US), General Vision(US), Vicarious (US), Numenta(US).Get Free Sample copy at: https://www.marketresearchfuture.com/sample_request/5110Neuromorphic Computing Market Regional AnalysisGlobally, the Neuromorphic Computing Market has been categorized into four different regions, namely North America, Europe, Asia-Pacific, and the rest of the world (the Middle East and Africa and South America).North America accounted for the largest market share in 2018, with a market value of USD 36.39 Million; the market is expected to register the highest CAGR of 50.06% during the forecast period.
Europe was the second-largest market in 2018, and it is projected to exhibit the highest CAGR of 49.92% during the forecast period.North America accounted for the largest share for the neuromorphic computing market due to the presence of various companies such as IBM Corporation, Intel Corporation, Qualcomm Incorporated, and others which are developing various systems and processors used for neuromorphic computing.
The North American region, based on country, has been segmented into the US, Canada, and Mexico.Europe is expected to register steady growth in the global neuromorphic computing market during the forecast period owing to the rising adoption of AI, machine learning, and IoT-based systems in various industries such as automotive, IT & telecom, aerospace and defense, and others.
The region by country has been segmented into the UK, Germany, France, Spain, Italy, and the rest of Europe.The Asia-Pacific region accounted for a significant share in the neuromorphic computing market due to the increasing adoption of AI, data analytics, IoT, and other technologies and solutions; reduce human efforts; and increase the efficiency of the process.
The increasing demand for these technologies has increased the requirement of fast processors and networks with high computing power resulting in the growing demand for neuromorphic computing.
