Global Neuromorphic Computing Market Research Report: Forecast till 2025
Neuromorphic computing is the third generation of artificial intelligence; it is an inventory algorithm designed to pretend the human brain’s interactions with the world. The technology blends concepts of computer science, VLSI, physics, mathematics, and biology. It provides many essential features over traditional approaches such as energy efficiency, fast execution and ability to grasp new techniques, healthiness against local features. The technology advancements in AI and increasing popularity
The global market of Neuromorphic Computing is evaluated to witness a substantial growth of USD 648.40 Million by 2025 growing at a CAGR of 49.92% during the forecast period. In today’s generation, the sophisticated standard of living has reduced the use of traditional chips due to emerging AI-based applications and increasing the rate of IoT devices. The current market of neuromorphic computing is at the sprout stage and is expected to obtain tremendous growth over the next few years. The prominent market players from the developed countries have identified the potential of technology and are investing heavily to offer advanced computing capabilities and lower the power consumption with the help of neuromorphic chips. The global market is been driven due to the increasing demand for emerging technologies like AI and the declining processing power of chipsets.
The global Neuromorphic Computing Market has been segmented by offering, application, end-user, and region.
Based on offerings the global market is categorized into Hardware and Software. By application type, the market is subdivided into Image recognition, signal recognition, digital marketing, object detection, and others. Based on end-user the market is further segregated into Automotive aerospace and defense, healthcare, industrial and others.
The region-specific analysis of the global neuromorphic computing market covers four major regions North America, Europe, Asia-Pacific, South America, the Middle East, and Africa.
In 2018, North America was the prominent market player of the global neuromorphic computing market of CAGR 50.06% during the assessment period. The regional market growth is driven by the contestant technology advancements and its implementation by a large community in a day to day routine. According to MRFR analysis, Europe has also anticipated the incredible market lift at the highest CAGR of 51.07% during the researched period. Asia-Pacific is also an emerging player of the market and the region is ready to witness rapid growth in recent times due to increasing urbanization and significant use of technology among the majority of people.
The Key Players of Global Neuromorphic Computing Market are IBM Corporation (US), Intel Corporation (US), HRL Laboratories (US), Qualcomm Incorporated (US), General Vision(US), Vicarious (US), Applied Brain Research (Canada), SAMSUNG (South Korea), BrainChip Holdings Ltd (Australia), Hewlett Packard Development LP (US), Numenta(US). Some startups such as Aspinity Inc (US), aiCTX AG (Switzerland), and invitation AG (Switzerland), are also offering neuromorphic hardware processors that intended to enhance AI-based and neuromorphic computing applications.
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