Press release
Neuromorphic Computing Market Projected to Reach USD 37.18 Billion by 2034, Growing at a CAGR of 19.9%
Neuromorphic Computing Market
Market Introduction
Neuromorphic computing is an advanced field of computing that uses artificial neural networks and specialized hardware to mimic the structure and function of the human brain.
Unlike traditional computing, which relies on a linear processing architecture, neuromorphic systems are designed to operate more like biological neural networks.
This enables them to process information in parallel and adapt to changing inputs. Neuromorphic computing aims to achieve more efficient, energy-saving computations for tasks that involve perception, learning, and decision-making.
Neuromorphic computing systems are typically powered by specialized hardware, such as neuromorphic chips, which are designed to emulate the behavior of neurons and synapses more effectively than traditional digital processors.
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Market Drivers
Expanding Use of IoT and Edge Computing: Edge computing and the Internet of Things (IoT) devices often need to process data locally without cloud computing. Neuromorphic systems, which can carry out complex tasks efficiently while consuming minimal power, are ideal for these applications. The rising use of edge computing and IoT is propelling the neuromorphic computing market forward.
Rising Demand for AI in Business Operations: The rising adoption of AI and deep learning in applications such as natural language processing, computer vision, and data refining is propelling the need for neuromorphic computing.
Market Key Players
The market has the presence of both established players and new entrants.
A few of the major market participants include:
• Applied Brain Research
• BrainChip
• General Vision
• Hewlett Packard Enterprise
• HRL Laboratories, LLC
• Intel Corporation
• International Business Machines Corporation (IBM)
• Qualcomm Technologies
• Samsung Electronics
• SynSense
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Neuromorphic Computing Market Report Highlights
• By end use, in 2024, the consumer electronics segment dominated the neuromorphic computing market revenue share due to rising demand for smarter, faster, and more energy-efficient devices such as smartphones, wearable tech, and smart home systems.
• The software segment, based on component, is expected to witness significant growth during the forecast period due to rising need for advanced algorithms that unlock the full potential of neuromorphic hardware.
• In 2024, North America dominated the market due to its strong research infrastructure and early adoption of advanced technologies.
• The Asia Pacific is expected to record the highest CAGR during the forecast period due to increasing investments in AI and semiconductor development.
Segmental Analysis
• The market segmentation is primarily based on component, deployment, application, end use, and region.
• By component, the software segment is projected to witness significant growth during the projection period due to the growing need for advanced algorithms that allow users to harness the full potential of neuromorphic hardware.
• Based on end use, the consumer electronics segment led the market in 2024, fueled by the rising need for faster, smarter, and more energy-efficient devices.
By Component Outlook (Revenue, USD Billion; 2020-2034)
• Hardware
• Software
• Services
By Deployment Outlook (Revenue, USD Billion; 2020-2034)
• Edge
• Cloud
By Application Outlook (Revenue, USD Billion; 2020-2034)
• Signal Processing
• Image Processing
• Data Processing
• Object Detection
• Others
By End Use Outlook (Revenue, USD Billion; 2020-2034)
• Consumer Electronics
• Automotive
• Healthcare
• Military & Defense
• Others
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By Regional Outlook (Revenue USD Billion, 2020-2034)
• North America
o US
o Canada
• Europe
o Germany
o France
o UK
o Italy
o Spain
o Netherlands
o Russia
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Malaysia
o South Korea
o Indonesia
o Australia
o Vietnam
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Israel
o South Africa
o Rest of Middle East & Africa
• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America
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