Neural Processor Market Update Report 2024 | Industry Trends, Demand, Leading Companies and Segmentation till 2032

Neural processor market is anticipated to grow at a CAGR of 17.5% during the forecast period (2024-2031). A neural processor, also known as a neural processing unit (NPU), is a specialized circuit that implements all the control and arithmetic logic required to run machine learning algorithms, typically by working with predictive models such as artificial neural networks (ANNs) or random forests (RFs). Neural processors can be designed digitally or analogously. Analog chips are more closely related to the biological properties of brain networks than digital processors. As a result, they ought to use less energy than digital neuromorphic computers, theoretically. Furthermore, they have the potential to extend the processing duration beyond the time limit, allowing the pace to be adjusted to process data faster than in real time.

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AI applications are gaining popularity in a variety of end-use industries, including healthcare, finance, and automotive. These processors play a significant role in accelerating AI-generated activities such as image recognition, natural language processing, and deep learning, to meet the need for AI-powered solutions, which is likely to drive the neural processor market growth. For instance, August 2021, at the annual Hot Chips conference, IBM revealed details about the impending new IBM Telum Processor, which is intended to deliver deep learning inference to enterprise workloads to combat fraud in real-time. Telum is IBM's first processor to include on-chip acceleration for AI inference while a transaction is ongoing. The breakthrough of this new on-chip hardware acceleration, which has been in development for three years, is intended to assist customers in achieving business insights at scale across banking, finance, trading, insurance, and consumer engagements.

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Market Coverage
Market number available for - 2024-2031
Base year- 2024
Forecast period- 2024-2031
Segment Covered- By Source, By Product Type, By Applications
Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
, and others

Global Neural Processor Market Report Segment 

By Application

Fraud Detection
Hardware Diagnostics
Financial Forecasting
Image Optimization
Others (Disease diagnostics, Algorithm Trading)

By End-User

BFSI
Healthcare
Retail
Defense Agencies
Media
Logistics
Others

Global Neural Processor Market Report Segment by Region 

North America

United States
Canada

Europe

UK
Germany
Italy
Spain
France
Rest of Europe

Asia-Pacific

China
India
Japan
South Korea
Rest of Asia-Pacific

Rest of the World

Latin America
Middle East and Africa

The Report Covers 

Market value data analysis of 2023 and forecast to 2031.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global neural processor market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where' in the market.

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