Neuromorphic Computing Market Covid-19 Analysis Recent Study Segments, Future Growth, Business Prospects

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. Moreover, there is an increasing demand for AI-based applications which is fuelling the development of this technology and driving the neuromorphic computing market in the region. The North American region, based on country, has been segmented into the US, Canada, and Mexico.

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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. Based on the country, the region has been segmented as China, Japan, India, Australia, and the rest of Asia-Pacific.

The rest of the world accounted for the fourth position in 2018 in the global neuromorphic computing market. The market growth in this region is expected to remain stagnant due to the presence of emerging economies and limited infrastructure support. However, the market is expected to experience a growing trend in the future due to the increasing investments to boost the AL and IoT solutions. The region has been segmented into the Middle East and Africa and South America.

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Global Neuromorphic Computing Market Segmentation

The Global Neuromorphic Computing Market has been segmented on the basis of Offering, Application, End-User. Based on offering, the global neuromorphic computing market has been segmented into hardware and software. Based on application, the Global Neuromorphic Computing Market has been segmented into image recognition, signal recognition, data mining, object detection, and others. By the end-user, the global neuromorphic computing market has been segmented into automotive, consumer electronics, aerospace and defense, IT and telecommunications, industrial and others.

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