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In-Depth Analysis of the Neuromorphic Computing Market: Growth Opportunities, Key Trends, and Forecast 2025-2034
Neuromorphic Computing Market Size
The growth of the neuromorphic computing market is anticipated to be fueled by an increasing need for automated systems across various industries. Automated systems are those that utilize different technologies and control systems to run and monitor industrial operations without human interference. Neuromorphic computing tech can be applied in autonomous mechanisms including robotics, drones, self-driving vehicles, and artificial intelligence. This technology can enhance automation and efficiency in extensive operations, product personalization, and production facilities. For example, Eurostat, the European Union's statistical office based in Luxembourg, reported in December 2023 that around 28% of large EU firms utilized artificial intelligence technologies and artificial intelligence tech was deployed by 8% of EU firms in 2021. Furthermore, about 53% of EU companies adopted readily available commercial artificial intelligence applications or systems in 2021. Consequently, the growing requirement for industrial automated systems is steering the expansion of the neuromorphic computing market.
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What growth opportunities are expected to drive the neuromorphic computing market's CAGR through 2034?
In the recent past, there has been a significant expansion in the market size of neuromorphic computing. This market is projected to increase from a whopping $1.44 billion in 2024 to an estimated $1.81 billion in 2025 recording a compound annual growth rate (CAGR) of 25.7%. The substantial growth during this historic era can be credited to the breakthroughs in the field of artificial intelligence (AI), the emergence of cognitive computing applications, partnerships within the realm of neuromorphic computing, requirements for real-time processing, and also the heightened amounts of investment and funding.
Anticipated to witness substantial expansion in the forthcoming years, the neuromorphic computing market is projected to surge to $4.12 billion by 2029, escalating at a compound annual growth rate (CAGR) of 22.8%. The predicted growth can be ascribed to the proliferation of edge computing, applications in autonomous vehicles, continuous innovation in neuromorphic hardware, ongoing research ventures and academic partnerships, as well as increased requirement for computing inspired by the human brain. Major trends encompassing this outlook period include technological ingenuity and progression, developments in the realm of quantum computing technology, innovations in semiconductor technology, contest from already set technologies, and automation in machine learning.
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What are the emerging trends shaping the future of the neuromorphic computing market?
Leading businesses in the neuromorphic computing sector are adopting and focusing on innovation like neuromorphic processors, a technology designed to replicate the human brain's structure and functionalities. For example, in January 2022, BrainChip, an AI firm based in Australia, introduced Akida, a neural network processor that aims to deliver low-power artificial intelligence for edge devices. Akida Neuromorphic ML Framework, a comprehensive machine learning system, allows for the smooth development of neuromorphic applications. The Akida Neural Processor SoC is a fully-digital and event-driven AI processor that uses a Spiking Neural Network (SNN) model, imitating the way neurons converse in the human brain. SNNs transmit data through spikes or information pulses, enhancing event-based processing efficacy.
Which growth-oriented segments of the neuromorphic computing market are leading the industry's development?
The neuromorphic computing market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Deployment: Edge Computing, Cloud Computing
3) By Application: Signal Processing, Image Processing, Data Processing, Object Detection, Other Applications
4) By End Use: Consumer Electronics, Automotive, Healthcare, Military And Defense, Other End Uses
Subsegments:
1) By Hardware: Neuromorphic Chips, Processors, Memory Units, Sensors, Interconnects
2) By Software: Neuromorphic Algorithms, Development Tools, Simulation Software, Frameworks For Machine Learning
3) By Services: Consulting Services, Integration Services, Maintenance And Support Services, Training And Development Services
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What regions are leading the charge in the neuromorphic computing market?
North America was the largest region in the neuromorphic computing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neuromorphic computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the neuromorphic computing market?
Major companies operating in the neuromorphic computing market report are Intel Corporation, The International Business Machines Corporation (IBM), Samsung Electronics, Qualcomm Technologies Inc., GrAI Matter Labs S.A., SK Hynix Inc., Hewlett Packard Enterprise Ltd., NVIDIA Corporation, Halo Neuroscience Inc., HRL Laboratories LLC, Defense Advanced Research Projects Agency, Perplexity Lab. Inc., Brain Corporation, Cerebras Systems Inc., General Vision Inc., Innatera Nanosystems B.V., Vicarious FPC Inc., Cortical.io, BrainChip Holdings Ltd., aiCTX AG, Knowm Inc., Prophesee S.A., Numenta Inc., Applied Brain Research Co. Ltd., Flow Neuroscience AB
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What Is Covered In The Neuromorphic Computing Global Market Report?
•Market Size Forecast: Examine the neuromorphic computing market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the neuromorphic computing market for a structured understanding.
•Key Players Overview: Analyze major players in the neuromorphic computing market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the neuromorphic computing market.
•Segment Contributions: Evaluate how different segments drive overall growth in the neuromorphic computing market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the neuromorphic computing market.
•Industry Challenges: Identify potential risks and obstacles affecting the neuromorphic computing market.
•Competitive Landscape: Review strategic developments in the neuromorphic computing market, including expansions, agreements, and new product launches.
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