Global Neuromorphic Computing Market, By Offering (Hardware, Software), Deployment (Edge Computing, Cloud Computing), Applications (Image Recognition, Data Processing, Signal Recognition, Object Detection, Data Mining), End User (Aerospace and Defense, IT and Telecom, Medical, Automotive, Industrial, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights : Global Neuromorphic Computing Market
The neuromorphic computing market is expected to witness market growth at a rate of 52.50% in the forecast period of 2022 to 2029, and is estimated to reach the value of USD 34.61 billion by 2029. Data Bridge Market Research report on neuromorphic computing market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in demand for the technology globally is escalating the growth of neuromorphic computing market.
Neuromorphic computing, also called neuromorphic engineering, refers to the use of large integration systems consisting of various analog circuits. These systems allow the replication of neuro-biological behaviors existing in a human’s nervous system. The neuromorphic computing platform contains two vital systems based on the custom hardware architecture. Such systems are designed to program neural microcircuits by applying brain-like thought process in cognitive computing.
The rise in the number of applications in the area of automation across the globe acts as one of the major factors driving the growth of neuromorphic computing market. The increase in demand for artificial intelligence for translation and chatterbots, computer vision and image processing, language processing, and nonlinear controls and robotics accelerate the market growth. The advancement of disruptive technologies, such as artificial intelligence (AI) and machine learning (ML), and rise in demand for the technology owning to the low power consumption, higher speed, and optimum memory usage further influence the market. Additionally, urbanization and digitization, rise in biotechnology sector, expansion of end use industries and cross-industry partnerships and collaborations positively affect the neuromorphic computing market. Furthermore, adoption of neuromorphic computing for security purposes and design and development of neuromorphic chips for brain-based robots and cognitive robots extend profitable opportunities to the market players in the forecast period of 2022 to 2029.
On the other hand, complex algorithms increasing complexity of designing hardware of neuromorphic chips and lack of knowledge about neuromorphic computing are expected to obstruct the market growth. Applications dependent on software compatibility of neural hardware are projected to challenge the neuromorphic computing market in the forecast period of 2022-2029.
This neuromorphic computing market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info neuromorphic computing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Neuromorphic Computing Market Scope and Market Size
The neuromorphic computing market is segmented on the basis of offering, deployment, applications and end user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of offering, the neuromorphic computing market is segmented into hardware and software. Hardware is further segmented into processor and memory.
- On the basis of deployment, the neuromorphic computing market is segmented into edge computing and cloud computing.
- On the basis of application, the neuromorphic computing market is segmented into image recognition, data processing, signal recognition, object detection and data mining.
- On the basis of end user, the neuromorphic computing market is segmented into aerospace and defense, it and telecom, medical, automotive, industrial and others.
Neuromorphic Computing Market Country Level Analysis
The neuromorphic computing market is analyzed and market size, volume information is provided by country, offering, deployment, applications and end user as referenced above.
The countries covered in the global neuromorphic computing market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the neuromorphic computing market due to the presence of key neuromorphic chip manufacturers within the region. Europe is expected to witness significant growth during the forecast period of 2022 to 2029 because of the expansion as significant investments are being made in neuromorphic projects in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data..
Competitive Landscape and Neuromorphic Computing Market Share Analysis
The neuromorphic computing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to neuromorphic computing market.
Some of the major players operating in the neuromorphic computing market report are Intel Corporation, IBM, BrainChip., Qualcomm Technologies, Inc., Hewlett Packard Enterprise Development LP, SAMSUNG, HRL Laboratories, LLC, General Vision Inc., Applied Brain Research, Vicarious, Numenta, Aspinity analogML, BrainCo, Inc., Bitbrain Technologies, Halo Neuroscience, Linux Kernel Organization, Inc., Nextmind SRL, Cognixion, Inc., NeuroPace, Inc., MindMaze and Innatera Nanosystems BV, among others.
SKU-