Neuromorphic Computing Market 2018 Global Trends, Emerging Technologies, Competitive Landscape, Size, Industry Growth and Segments by Forecast to 2023
Global Neuromorphic Computing Market is expected to grow at 49% CAGR through the forecast period.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 softwareSoftware 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.
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The interdisciplinary nature of neuromorphic computing has created a huge scope for the development of the market. Market intensive reports related to the semiconductors and electronics industry among others recently have been made available by Market Research Future which issues reports on this industry. The market is predicted to achieve USD 225 Mn in revenues over the forecast period.
The combination of biological neural networks as analogue or digital copies on electronic circuits has enabled higher growth of the market. As neuromorphic computing is much more effective and efficient than the traditional approaches, it has garnered a growing user base. Key features such as energy efficiency, robustness, and execution speed are increasing the demand for the market significantly. Several major chip makers are already producing the neuromorphic computing chip, and the rate is expected to develop significantly. Expedited efforts through the IT industry are speeding up the process to get their AI services into the hands of users, which are powered majorly by neuromorphic computing chips. However, the market that could find its growth restrained due to lack of R&D investments and knowledge about neuromorphic computing among consumers.
The segmentation of the neuromorphic computing market is carried out on the basis of offering, application, end-user and region. On the basis of the offerings, the segment comprises of hardware and software. The wide range of applications of the neuromorphic computing market includes object detection, signal recognition, image recognition, data mining and many more. The regions included in the market are Asia Pacific, Europe, North America and rest of the world. The end-user segment of the market comprises of segments such as consumer electronics, automotive, defense, automotive, and healthcare.
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.)
BrainChip Holdings Ltd. (U.S.)
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Detailed Regional Analysis:
The region wise segmentation of the market observes that the North America region is controlling the neuromorphic computing market globally. The nations such as the U.S., and Canada have a major share in the neuromorphic computing market globally. The key market in the North American region which contributes to the global market growth is the image recognition industry. The mounting demand for automation in nations such as China, South Korea, Brazil, and India is prompting the market growth in the Asia Pacific region. The European market is also achieving momentum due to the upsurge of opportunities for neuromorphic projects.
Global Competitive Analysis:
The key trends and players have established a positive tone for development. The competitors in the market are persistently trying to establish leading market positions through new policies and strategies. The experienced management in the companies operating in the market are creating business models which can bring about a fruitful phase of development. The competitors in the market are trying to succeed commercially by ensuring demand and supply are in balance. The contenders in the market are also leveraging their competitive advantages to secure their growth in the market. The momentum of the market’s growth has altered the competitive backdrop of the market. The market development by competitors also comprises of strong risk management.
Jan 2018 Intel has recently announced a milestone in its efforts to research and develop future computing technologies in neuromorphic computing. Intel's research into neuromorphic computing comprises of a new computing paradigm that draws inspiration from the functioning of the brain. This will aid in unlocking the exponential gains in power and performance efficiency for the future of artificial intelligence. To this end, they have developed a neuromorphic research chip, code-named "Loihi," which consist of digital circuits that impersonate the brain's basic operation. The Loihi chip combines training and inference on a single chip with the objective of making machine learning extra power efficient. Neuromorphic chips could eventually be used anywhere real world data needs to be processed in developing real-time environments. In the start of this year, Intel has planned to share the Loihi test chip with the top university and research institutions while relating it to more complex data sets and problems.
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
LIST OF TABLES
Table 1 Global Neuromorphic Computing Market: By Region, 2017-2023
Table 2 North America Neuromorphic Computing Market: By Country, 2017-2023
Table 3 Europe Neuromorphic Computing Market: By Country, 2017-2023
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LIST OF FIGURES
FIGURE 1 Global Neuromorphic Computing Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis Of Global Neuromorphic Computing Market
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