Unlocking Opportunities in the Neuromorphic Computing Market: 2025-2034 Forecast Report

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What Will the Neuromorphic Computing Industry Market Size Be by 2025?
In the past few years, the size of the neuromorphic computing market has experienced a significant surge. Expectations suggest that the market will expand from $1.44 billion in 2024 to $1.81 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 25.7%. Factors such as artificial intelligence (AI) advancements, the growing prevalence of cognitive computing applications, strategic partnerships within the neuromorphic computing sector, the necessity for real-time processing, and a rise in investment and funding sources, have all contributed to the historical growth.

What's the Long-Term Growth Forecast for the Neuromorphic Computing Market Size Through 2029?
The market size for neuromorphic computing is predicted to experience a significant surge in growth over the next couple of years. The figure is anticipated to reach $4.12 billion by 2029, with a compound annual growth rate (CAGR) of 22.8%. The expansion forecasted for this period can be connected to the rising interest in edge computing, the implementation in autonomous driving vehicles, consistent innovation in neuromorphic hardware, persistent research efforts and academic partnerships, and an increasing demand for brain-inspired computing. Looking ahead, market trends will likely encompass technological development and progression, advancements in the field of quantum computing technology and semiconductor technology, competition emerging from existing technologies, and the automation of machine learning.

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What Are the Key Growth Drivers Fueling the Neuromorphic Computing Market Expansion?
The growth of the neuromorphic computing market is likely to be fueled by the increasing need for automated systems in various industrial sectors. Automated systems, which involve the utilization of diverse technologies and control mechanisms to operate and monitor industrial processes without the need for human intervention, can benefit significantly from neuromorphic computing technology. This technology can be employed in autonomous systems such as robotics, drones, autonomous vehicles, and artificial intelligence. Neuromorphic computing can enhance automation and efficiency in large-scale operations, product customization, and factories. For example, as per the data from Eurostat, a statistical agency based in Luxembourg for the European Union, around 28% of large EU companies utilized artificial intelligence technologies in December 2023, and 8% of EU businesses implemented artificial intelligence technologies in 2021. Moreover, approximately 53% of EU businesses adopted ready-to-use commercial artificial intelligence software or systems in 2021. Hence, the escalating demand for automated systems in the industrial sector is spearheading the growth of the neuromorphic computing market.

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What Are the Key Trends Driving Neuromorphic Computing Market Growth?
Top-tier entities within the neuromorphic computing industry are honing in on groundbreaking technologies, such as neuromorphic processors, to emulate human brain functionality. These types of processors are engineered to replicate the brain and nervous system's structure and operations. For illustration, BrainChip, an artificial intelligence firm based in Australia, unveiled Akida, a neural networking processor, in January 2022. It's designed to supply low-power artificial intelligence to edge devices. The Akida Neuromorphic ML Framework is a comprehensive machine learning environment that makes creating neuromorphic applications effortless. The Akida Neural Processor SoC (System on Chip) is a completely digitized, event-driven AI processor leveraging the Spiking Neural Network (SNN) model. This model, a variant of artificial neural networks, emulates neuron communication in the human brain. To transmit and symbolize data, SNNs utilize information spikes or pulses, enhancing the effectiveness of event-oriented processing.

How Is the Neuromorphic Computing Market Segmented?
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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Which Companies Are Leading the Charge in Neuromorphic Computing Market Innovation?
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

Which Regions Are Leading the Global Neuromorphic Computing Market in Revenue?
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.

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