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Neuromorphic Chips Market Size, Share, Growth, Latest Trends, Industry Analysis By 2033
Neuromorphic Chips Market
As per the report, the neuromorphic chips market size has grown rapidly in recent years. It will grow from $0.59 billion in 2023 to $0.68 billion in 2024 at a compound annual growth rate (CAGR) of 14.9%. The neuromorphic chips market size is expected to see rapid growth in the next few years. It will grow to $11.1 billion in 2028 at a compound annual growth rate (CAGR) of 13.1%.
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Neuromorphic Chips Market Surge Fueled By Rising Demand In Robotics And Automation
The growing demand for robotics and automation is expected to propel the growth of the neuromorphic chips market going forward. Robotics and automation refer to the use of computers, control systems, and information technology to handle industrial processes and machinery. Robotics and automation use neuromorphic chips to utilize brain-inspired computing concepts to increase the capabilities of automated systems and robots. For instance, in December 2022, according to the European Commission, a Belgium-based government body, the number of new industrial robots installed in companies globally reached an all-time high of 517,385, up 31% from 2020. Therefore, the growing demand for robotics and automation is driving the growth of the neuromorphic chips market.
Innovative Developments In The Neuromorphic Chip Market By Leading Companies
Major companies operating in the neuromorphic chips market are developing innovative products by using the latest AI neuromorphic chip technologies to better serve customers with advanced features. AI neuromorphic chip refers to a type of computer hardware that integrates artificial intelligence (AI) and neuromorphic computing principles. For instance, in September 2021, Intel Corporation, a US-based technology company, introduced Loihi 2, its second-generation neuromorphic research chip, and Lava, an open-source software framework for developing neuro-inspired applications. This can process data 1,000 times faster and consume significantly less power than conventional processors like CPUs and GPUs. The technology's energy efficiency makes it suitable for a wide range of applications, such as cybersecurity, smart homes, and industrial equipment.
The neuromorphic chips market covered in this report is segmented -
1) By Components: Software, Hardware
2) By Function: Signal Processing, Data Processing, Image Recognition, Process optimization
3) By End Use Industry: Aerospace And Defense, Automotive, Healthcare, Industrial, Consumer Electronics, Other End User Industries
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Major companies operating in the neuromorphic chips market report are Samsung Electronics Limited, Lockheed Martin Corporation, Intel Corp., International Business Machine Corporation, IBM Corporation, SK Hynix Inc., Qualcomm, Hewlett Packard Enterprise, Cadence Design Systems Inc., Nepes Corp. , Nepes Corporation, CEA Leti, HRL Laboratories LLC, Altium LLC, SynSense AG, Innatera, Brain Corporation, Vicarious FPC Inc. , GrAI Matter Labs, Gyrfalcon Technology Inc, Ceryx Medical, Brain chip Holdings Ltd., Numenta, Inc. , Koniku, Applied Brain Research, Inc., General Vision Inc., Knowm Inc.
Contents of the report:
1. Executive Summary
2. Neuromorphic Chips Market Report Structure
3. Neuromorphic Chips Market Trends And Strategies
4. Neuromorphic Chips Market - Macro Economic Scenario
5. Neuromorphic Chips Market Size And Growth
…..
27. Neuromorphic Chips Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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