Neuromorphic Computing Market 2023 By Global Key Players IBM, Hewlett, Samsung, Intel, HRL, General Vision, Brain Chip

Global Neuromorphic Computing Market research report, by application (image recognition, signal recognition, data mining), offering (hardware, software), end-users (automotive, consumer electronics, automotive, defense, healthcare) – Forecast till 2023

The Global Neuromorphic Computing Market is expected to grow at 49% CAGR through the forecast period.

Market Highlights:

Neuromorphic computing implements aspects of biological neural networks as analogue or digital copies on electronic circuits. The goal of neuromorphic computing is two-fold – One is offering a tool for neuroscience to understand the dynamic processes of learning and other is development in the brain and applying brain inspiration to generic cognitive computing. Key advantages of neuromorphic computing compared to traditional approaches are energy efficiency, execution speed, robustness against local failures and the ability to learn.

Neuromorphic computing is expected to gain huge momentum in the coming years due to the gaining familiarity of neuromorphic computing technology and rising demand for artificial intelligence. Artificial intelligence is used as applications in language processing, computer vision & image processing, translation & chatterbots, and non-linear controls & robotics.
Some applications will include neuromorphic sensors in smartphones, smart cars and robots or olfactory detection. The technology could integrate brain-like capabilities in devices and machines that are currently limited in speed and power. In effect, this could be the final step towards developing cognitive computing and systems that are able to learn, remember, reason or help humans make better decisions.

Lack of R&D investments and knowledge about neuromorphic computing among consumers are the major restraints of neuromorphic computing market.

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Segmentation:

The market for neuromorphic computing market is segmented on the basis of application, offering, end-user and region. On the basis of offering, the segment is further classified into hardware and software. Neuromorphic computing has a wide range of applications such as image recognition, signal recognition, data mining, object detection and many more. By end-user, the market can be segregated into five segments: automotive, consumer electronics, automotive, defense, and healthcare. The consumer electronics is expected to hold the largest share in terms of end-use application of neuromorphic computing. The usage of neuromorphic computing in self-driven and smart vehicles is expected to bring a transition in transportation and furthermore propel the growth of automotive sector. The usage of neuromorphic chips in satellites for surveillance and aerial imagery is highly in demand in the defense sector.

Software is expected to hold the largest share of neuromorphic computing market, based on offering. Software has applications in video monitoring, machine vision, and voice identification. Increasing adoption of software in industries such as aerospace & defense, IT & telecom, and medical is driving the growth of the neuromorphic computing software market.

Key Players:

Some of the key players in the market are IBM Corp. (U.S.), Hewlett Packard Enterprise (U.S.), Samsung Group (South Korea), Intel Corp. (U.S.), HRL Laboratories, LLC (U.S.), General Vision Inc. (U.S.), Applied Brain Research Inc. (U.S.), and Brain Chip Holdings Ltd. (U.S.) among others

Regional Analysis:

The North American region account for a major share of the global market. The strong presence of the neuromorphic chip manufacturers in this region can be attributed as a major reason for this share. Furthermore, the industry is predicted to gain momentum in the Asia Pacific and South American regions, owing to the increasing demand for automation in countries such as China, India, South Korea, and Brazil. The European region is expected to present significant opportunities for industry expansion as the expenses of neuromorphic projects and R&D activities are high.

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Intended Audience:

•Government
•Semiconductor manufacturers
•Industries such as aerospace, automotive
•Research laboratories

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