The
neuromorphic computing market size is expected to reach USD 6,480.1 million by
2024 according to a new study by Grand View Research, Inc.
The
global neuromorphic computing market is expected to gain traction, owing to the
rising demand for artificial intelligence. The prominent industry vendors are
focusing on the development of neural processing units that can be incorporated
into the processor chip for the reverse-engineering of the human brain.
 |
| North America Neuromorphic Computing Market revenue by end-use, 2016 - 2024 (USD Million) |
The
rising demand for cognitive and brain robots is projected to impel growth in
the industry. Neuromorphic chips facilitate users with several benefits such as
high-performance speed, cognitive computing, optimum usage of memory, and low
power consumption. The escalated demand in diverse industrial verticals,
including consumer electronics, automotive, and robotics is instrumental in
keeping the industry prospects upbeat.
The
rise in the demand for aerial surveillance and satellite imagery is impelling
growth in the industry. The growth in the audio and signal processing
application segments is further presumed to positively impact the industry.
The
growing demand in end-use segments, such as the automotive and military &
defense sectors, is creating new avenues for industry expansion. However, the
vendors need to make substantial investments in the research and development
activities of neuroscience and computing before foraying into the industry. Replicating
the neural patterns on chips requires the use of complex algorithms, which
makes the design process more intricate.
In depth research report on Neuromorphic Computing
Market
Further key findings from the study suggest:
·
The consumer electronics
end-use segment dominated the global neuromorphic computing industry,
accounting for over 62% of the market share in 2016. The emerging trend of
using brain computers and smart consumer wearable devices is favorably
impacting the industry growth.
·
The North American regional
market accounted for 34% of the global revenue share in 2016. The strong
presence of neuromorphic chip vendors in this region is expected to contribute
to the industry growth in the region.
·
The signal processing
application segment accounted for 30% of the global revenue share in 2016. The
increasing demand for processing acoustic and audio signals is strengthening
the demand for this segment.
·
The key industry participants
include Brain Corporation (U.S.), CEA Leti (France), General Vision, Inc.
(U.S.), Hewlett Packard (U.S.), HRL Laboratories LLC (U.S.), IBM Corporation
(U.S.), Intel Corporation (U.S.), Knowm Inc. (U.S.), Numenta, Inc. (U.S.),
Qualcomm Inc. (U.S.), and Vicarious FPC, Inc. (U.S.). Industry vendors are emphasizing
on product development for new applications and forming technology alliances to
gain a competitive edge in the industry.
Grand
View Research has segmented the global neuromorphic computing market on the
basis of application, end-use, and region:
Neuromorphic Computing Application Outlook (Revenue,
USD Million, 2016 - 2024)
·
Signal Processing
·
Data Processing
·
Image Processing
·
Object Detection
·
Others
Neuromorphic Computing End-use Outlook (Revenue, USD
Million, 2016 - 2024)
·
Consumer Electronics
·
Automotive
·
Healthcare
·
Military & Defense
·
Others
Neuromorphic Computing Regional Outlook (Revenue,
USD Million, 2016 - 2024)
·
North America
·
Europe
·
Asia Pacific
·
South America
·
Middle East & Africa
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About Grand View Research
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.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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