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2025-2034 Neuromorphic Computing Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights
Neuromorphic Computing Market
What Is the Expected CAGR for the Neuromorphic Computing Market Through 2025?
In recent years, the neuromorphic computing market has experienced remarkable expansion. Its size is projected to surge from $1.44 billion in 2024 to $1.81 billion in 2025, with a compound annual growth rate (CAGR) of 25.3%. The considerable growth in the historical period is due to several factors. These include advancements in artificial intelligence (AI), the emergence of cognitive computing applications, partnerships within the neuromorphic computing industry, requirements for real-time processing, and enhanced investment and funding.
What's the Projected Size of the Global Neuromorphic Computing Market by 2029?
Anticipations are high for the neuromorphic computing market, which is forecasted to undergo sizable growth in the coming years. The market is set to surge to $4.1 billion by 2029, with a compound annual growth rate (CAGR) of 22.7%. Factors such as the rise of edge computing, use in self-driving cars, continual innovation in neuromorphic hardware, ongoing investigative initiatives and academic partnerships, and an escalating demand for brain-like computing contribute to this projected growth. Technological progress and advancement, progress in quantum computing technology, development in semiconductor technology, increasingly stiff competition from prevailing technologies, and automated machine learning stand as the major trends in this period of growth forecast.
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Top Growth Drivers in the Neuromorphic Computing Industry: What's Accelerating the Market?
The growth of the neuromorphic computing market is anticipated to surge due to the increasing demand for automated systems in various industries. These automated systems employ a plethora of technologies and control frameworks to facilitate and oversee industrial operations, eliminating the need for human intervention. Autonomous systems like robotics, drones, autonomous vehicles, and artificial intelligence can leverage neuromorphic computing technology. This technology can enhance automation and efficiency across sizeable operations, product personalization, and factory set-ups. For example, as reported by Eurostat, the statistical office of the European Union based in Luxembourg, in December 2023, approximately 28% of sizable EU enterprises utilized artificial intelligence technologies. Furthermore, 8% of EU businesses integrated artificial intelligence technologies in 2021. About 53% of EU businesses also incorporated commercially available artificial intelligence software or systems in the same year. Consequently, the escalating demand for automated systems in industries is fueling the expansion of the neuromorphic computing market.
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What Trends Will Shape the Neuromorphic Computing Market Through 2029 and Beyond?
Leading firms in the neuromorphic computing market are turning their attention towards novel technology, including neuromorphic processors, which seek to emulate human brain functions. Neuromorphic processors are constructed to imitate the architecture and operations of the human brain and nervous system. For example, in January 2022, BrainChip, a company based in Australia that specializes in artificial intelligence, introduced Akida, a neural network processor which aims to deliver low-power AI for edge devices. The Akida Neuromorphic ML Framework is a comprehensive machine learning framework that facilitates the effortless development of neuromorphic applications. The Akida Neural Processor SoC (System on Chip) is an entirely digital, event-oriented AI processor that utilizes a Spiking Neural Network (SNN) model which imitates the way neurons communicate in the human brain. SNNs convey and illustrate data using information spikes or pulses, enhancing the effectiveness of event-based processing.
What Are the Main Segments in the Neuromorphic Computing Market?
The neuromorphic computingmarket 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 Top Companies are Driving Growth 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
Which Regions Will Dominate the Neuromorphic Computing Market Through 2029?
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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