Neuromorphic chips mimic the biological neural networks of the human brain with co-located processing and memory. They offer major advantages over traditional chips by performing tasks in a low-power and massively parallel manner similar to the brain. Neuromorphic chips are being used for applications like machine vision, voice recognition, and advanced robotics. The increasing adoption of AI technologies across industries is driving the demand for specialized neuromorphic hardware that can handle complex computational tasks more efficiently.
The global Neuromorphic Chip Market is estimated to be valued at US$ 44.8 Bn in 2023 and is expected to exhibit a CAGR of 67. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The arrival of deep learning and artificial intelligence is accelerating the adoption of neuromorphic computing technology. Traditional hardware is unable to process large amounts of unstructured data required for advanced AI applications efficiently. Neuromorphic chips mimic the biological brain's architecture to perform parallel computing inspired by neural networks. This allows them to analyze complex datasets and recognize patterns in a low-power manner. As AI transforms different industries, neuromorphic computing is emerging as a promising technology to power applications in sectors like transportation, healthcare, manufacturing etc. The growth of AI will continue to drive investments in neuromorphic hardware research and development during the forecast period.
Segment Analysis
Neuromorphic chips aim to mimic neural networks of the human brain for increased processing power and efficiency. One major segment dominating the neuromorphic chip market is image recognition. This segment holds a large share due to wide application of image recognition in areas like surveillance, autonomous robots, drone technology. Neural networks used in neuromorphic chips can process images and extract meaningful data from them.
Key Takeaways
The Global Neuromorphic Chip Market Size is expected to witness high growth. The Asia Pacific region is expected to be the fastest growing region due to rising adoption of AI technologies in countries like China and India. Key players are actively focusing on the region by establishing R&D centers and collaboration with regional research institutes to tap into growth opportunities.
Regional analysis: The Asia Pacific region is poised to grow at the fastest rate due to rising investments by governments and private players in development of neuromorphic technologies. Countries like China and India offer a large customer base and are increasingly adopting AI and machine learning technologies. Additionally, presence of leading chip manufacturing companies in the region is also boosting regional market growth.
Key players: Key players operating in the neuromorphic chip market are IBM Research, Inc., Knowm Inc., Intel Corp., BrainChip Holdings Ltd., and General Vision Inc. IBM is a pioneer in neuromorphic chip research and development with its TrueNorth chip. Intel is investing heavily to develop Loihi, a neuromorphic research chip targeted at cognitive computing applications.
Get more insights on this topic:
https://www.dailyprbulletin.com/neuromorphic-chip-market-share-analysis/
Neuromorphic Chip Market 2021-2026New Study Reports " The Global Neuromorphic Chip Market Industrial Analysis, Market Dynamics, Growth Analysis, Regional Analysis, Size, Share, and Forecast 2021- 2026" has been Added on MarketResearchFuture.Market OverviewThe study of market analysis of the global Neuromorphic Chip market focuses on the key elements and the market dynamics of a specific market within that industry.
With the help of the report analysis, every new or established manufacturer can gain knowledge about the business strategies and planning by the significant key marketers who are having a strong base.
The documentation is prepared by investigating the company’s activities related to their planning, decision making, purchase, capital investment, innovation, workforce, business expansion strategy, facility expansion, promotional activities, and many other aspects of a company.Market Dynamics of The Global Neuromorphic Chip MarketThe rising awareness among the global population for the product benefit tends to increase the production of a product of the global Neuromorphic Chip market in a positive way.
This report also analyzes the impact of Coronavirus COVID-19 on the Neuromorphic Chip industry.Neuromorphic computing models the way the brain works through spiking neural networks.
Neuromorphic computing is expected to completely transform the technology industry from programming languages to hardware.Conventional computing is based on transistors that are either on or off, one or zero.
Neuromorphic systems can be either digital or analogue, with the part of synapses played by either software or memristors.Key PlayersThe report has profiled some of the Important players prevalent in the global like – Hewlett Packard Enterprise, Samsung Electronics Limited, Intel Corp., HRL Laboratories, LLC, General Vision Inc., Applied Brain Research, Inc., Brainchip Holdings Ltd., aiCTX AG, Qualcomm, IBM, Nepes Corp., Innatera, MemComputing, INSTAR Robotics, Ceryx Medical, and Koniku and more.This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Neuromorphic Chip.Complete Report Details@ https://www.marketresearchfuture.com/reports/neuromorphic-chip-market-10516According to Market Research Future, the global neuromorphic Chip Market has been segmented based on application, vertical, and region.By application, the market has been segmented into image recognition, signal recognition, data mining.By vertical, the market has been segmented into aerospace & defense, IT & telecom, automotive, medical, industrial, others.
