The
global Neuromorphic
Computing Market size is expected to reach USD 20,272.1 million by
2030, according to a new report by Grand View Research, Inc. The market is
anticipated to expand at a CAGR of 21.2% from 2022 to 2030. The rise in demand
for artificial intelligence and machine learning technology increased
software utilization in neuromorphic computing, and the growing demand to
produce better-integrated circuits (ICs) is attributed to the growth of the
Neuromorphic computing market.
AI-powered
neuromorphic chips are in high demand in the automotive industry because of
their constant requirement for developing AI algorithms for high throughput with
low power demands. Moreover, Neuromorphic chips are ideal for classification
methods and could be used in various autonomous driving scenarios. For
instance, in December 2020, Mercedes-Benz AG collaborated with the Intel
Neuromorphic Research Community to investigate how neuromorphic chips could
improve energy efficiency, speed, and accuracy for vehicle-related AI
applications.
The
increasing use of neuromorphic technology in healthcare applications is
attributed to market growth. Moreover, Neuromorphic devices combined with
artificial intelligence help detect health issues in individuals. For instance,
in August 2022, Researchers from the University of Chicago’s Pritzker School of
Molecular Engineering in the U.S. developed a wearable neuromorphic computing
chip. This chip is developed by fusing wearable technology with artificial
intelligence and machine learning to analyze health data.
Neuromorphic
computing, which uses observations from neuroscience to create chips that
function like the biological brain, aims to improve energy efficiency,
computation speed, and learning efficiency in various applications such as
voice, vision, gesture recognition, robotics, and search retrieval. For
instance, in October 2021, Intel Corporation released Loihi 2, its 2nd generation
neuromorphic research chip, and Lava, an open-source software platform for
creating neuro-inspired applications and computing.
Neuromorphic
computing provides benefits such as fast parallel processing with minimum power
requirement. It also eliminates the need for back-and-forth data movement
between components in the von Neumann architecture; this is expected to drive
its adoption for image and signal processing applications. Moreover, its
expected adoption in consumer electronics, automotive, healthcare, and military
& defense sectors will also be largely responsible for driving the market
growth.
Related Press
Release@ Neuromorphic
Computing Market Report
Neuromorphic Computing Market Report Highlights
- The consumer
electronics segment holds the maximum revenue share of 57.93% in 2022.
This can be attributed to the dynamic growth in the electronics industry
coupled with the integration of IoT and AI-based technologies in the
consumer electronic equipment.
- The Edge
segment dominates the market with a revenue share of more than 74% due to
the rising use of edge computing in applications such as responsive voice
control for automobiles, full-body gesture detection for touchless
interfaces, and onboard intelligence for assistive robotics.
- The software
segment is projected to grow with the highest CAGR of 26.9% during the
forecasted period due to the increasing software needs across multiple
industries such as aerospace & defense, IT, and telecom.
- Asia Pacific
is projected to grow with the highest CAGR of 22.7% from 2023 to 2030. The
growth is attributable to the rapidly swift technological advancements,
increasing consumption of smart electronic equipment, and the increasing
prominence of social networking in developing economies, such as India and
China.
List of Key Players in the Neuromorphic Computing Market
- Brain Corporation
- CEA-Leti
- General Vision, inc
- Hewlett Packard Company
- HRL Laboratories, LLC
- International Business Machines
Corporation
- Intel Corporation
- Knowm Inc
- Qualcomm Technologies, Inc
- Samsung Electronics Co., Ltd
- Vicarious FPC, Inc
Neuromorphic Computing Market Segmentation
Grand
View Research has segmented the global neuromorphic computing market based on
application, end-use, deployment, component, and region:
Neuromorphic Computing Application Outlook (Revenue, USD
Billion; 2018 - 2030)
- Signal
Processing
- Image
Processing
- Data
Processing
- Object
Detection
- Others
Neuromorphic Computing End-Use Outlook (Revenue, USD
Billion; 2018 - 2030)
- Consumer
Electronics
- Automotive
- Healthcare
- Military
& Defense
- Others
Neuromorphic Computing Deployment Outlook (Revenue, USD
Billion; 2018 - 2030)
- Edge
- Cloud
Neuromorphic Computing Component Outlook (Revenue, USD
Billion; 2018 - 2030)
- Hardware
- Software
- Services
Neuromorphic Computing Regional Outlook (Revenue,
USD Billion; 2018 - 2030)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- Japan
- India
- South America
- Brazil
- Middle East
and Africa
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals, materials,
healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-95196
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
