Brain-like Computing Chip Market Size, Status and Forecast 2022

The global Brain-like Computing Chip market size is projected to reach US$ 1436 million by 2028, from US$ 13 million in 2021, at a CAGR of 94.7% during 2022-2028.
Key drivers of the brain-like computing chip market include the rising need for data mining applications. The increasing use in the healthcare industry will fuel the growth of the brain-like computing chip market. The huge scope in the automotive industry will drive the growth of the market during the forecast period.

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Brain-like Computing Chip Market Trends
Importance of Data-mining

Data mining has gained significant traction in the last few years. Brain-like chips work in combination with voice and gesture commands to provide AI-like capability to smart vehicles. Neuromorphic chips copy the human brain structure as each neuron transmits the message to other neurons and the entire system learns by reinforcing connections. It is adept at tracking patterns in large volumes of noisy data which helps in speeding up the overall learning process. This will bolster the growth of the brain-like computing chip market during the forecast period. Mining understands the correct form of data and collects it from various sources for proper analysis. It resolves data issues like corruption, duplication, and stolen data. It makes informed decisions and helps detect several cases of fraud.

Healthcare industry

Embedded threads or neural link chips can be connected with human brains to provide enhanced eye tracking, speech, sight, and movement. It metaphorically bridges the gap between the brain and the prosthetic limb. The threads and the technology allow for better interaction and communication between the brain and the machine which bypasses any organic limitations. Such limitless possibilities will push the growth prospects of the brain-like computing chip market during the forecast period. The threads are collected in a variety of locations, and depths. Scientists are already using organic nanocarriers to provide chemotherapy treatment for brain tumors and immediate diagnosis of harmful diseases. This can also be used in the application of autonomous robotic surgeries.

Automotive industry

All premium car manufacturers are investing in neuromorphic chips for generating advanced levels of vehicle autonomy. It is perfectly suited for self-driving vehicles and classification tasks. The introduction of ADAS systems includes image recognition and generating huge volumes of data. This will drive the demand for the brain-like computing chip market. It enables cruise control, intelligent speed recognition, and an assist system in passenger vehicles. It instantly recognizes the traffic information on roads, crosswalks, school zones, road bumps, etc.

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