The neuromorphic chip market describes circuits and systems that are inspired by biological neural networks. Neuromorphic chips use advanced algorithms and hardware design to mimic neuro-inspired architectures allowing them to perform recognition tasks efficiently. These chips have the potential to revolutionize artificial intelligence by performing complex cognitive functions using very little power.
The global neuromorphic chip market is estimated to be valued at US$ 51.61 Bn in 2024 and is expected to exhibit a CAGR of 22% over the forecast period from 2024 to 2030.
Neuromorphic chips replicate biological brain functions through co-located and co-operating memory and processing circuits. They mimic the brain's architecture by incorporating a vast number of dense, low-power analog circuits representing neurons and synapses. These chips offer advantages like low power consumption, high speed, inherent parallelism and the ability to process and learn from patterns of neural signals in real-time. The growing need for facial and speech recognition, object detection, predictive analytics and image classification is driving the demand for neuromorphic computing capable of handling massive and unstructured data.
Key Takeaways
Key players operating in the neuromorphic chip market are General Electric Company, Thermo Fisher Scientific Inc., Merck KGaA, AMS Biotechnology (Europe) Limited, Miltenyi Biotec GmbH, BioLife Solutions Inc., HiMedia Laboratories Pvt. Ltd., PromoCell GmbH, Corning Incorporated, Cooper Companies, Inc., Planer PLC, Bio-Rad Laboratories India Pvt. Ltd, Abcam plc., AMSBIO, Biogenuix, and Evia Bio. The increasing application of artificial intelligence and machine learning across industries is driving the demand for neuromorphic chips capable of mimicking the human brain. Technological advancements involving spike-timing-dependent plasticity, deep neural networks, and graphical processing units are enabling neuromorphic chips to perform complex cognitive tasks more efficiently.
Market Trends
Two key trends in the Neuromorphic Chip Market Demand are - hardware-enabling trends and algorithm/application trends. Hardware trends involve developments towards Hyperdimensional Computing which employs higher dimensional vectors to represent data while crossbar arrays allow parallelism similar to biological synapses. Algorithm trends are focused on Spiking Neural Networks that emulate the brain's event-driven, asynchronous computational model for applications in pattern recognition, control, and prediction.
Market Opportunities
The burgeoning artificial intelligence industry and growing deployment of deep learning applications across industries offer significant opportunities for neuromorphic chips. Their ability to learn from vast, unstructured data and perform cognitive tasks like perception, decisions and control with less power can enable applications in self-driving cars, smart homes, smart cities as well as industrial IoT. Neuromorphic processors are also being explored for edge computing applications involving low-latency predictions. Development of ubiquitous memristor technology will further accelerate real-time neuromorphic processing capabilities.
Impact of COVID-19 on Neuromorphic Chip Market Growth
The COVID-19 pandemic had a major impact on the neuromorphic chip market growth initially. During the lockdown phases imposed by various governments around the world, production facilities and manufacturing units were shut down. This led to disruptions in the supply chain and decline in sales and revenues for many neuromorphic chip manufacturers. Research and development activities were also hampered due to restrictions on travel and movement of people. However, with growing need for AI-enabled technologies for surveillance, contact tracing and predictive analytics purposes during the pandemic, demand for neuromorphic chips picked up again post lockdowns. Many tech companies and researchers accelerated their efforts to develop artificial intelligence and machine learning solutions that could help combat the virus and support healthcare systems. This shift towards digitization and use of advanced computing boosted the neuromorphic chip market in late 2020 and 2021. Going forward, the market is expected to grow further with increasing investments in next generation AI applications for various sectors like automotive, healthcare, industrial IoT and more. Companies are focusing on developing neuromorphic chips with higher complexity and efficiency to power advanced cognitive workloads for years to come.
Regional Concentration in Neuromorphic Chip Market
In terms of value, the neuromorphic chip market is currently concentrated in North America region. The USA holds the leading share due to strong presence of tech giants and AI startups as well as heavy funding by the government towards neuro-inspired computing research. Countries like Canada and Mexico are also emerging markets. A lot of innovative startups developing brain-inspired chips are based in Silicon Valley and other tech hubs. Major tech companies have set up R&D centres focusing on neuromorphic engineering and spiking neural networks. The region captured over 35% share of the global neuromorphic chip market in 2024 in terms of revenues.
Fastest Growing Region in Neuromorphic Chip Market
Asia Pacific region is poised to be the fastest growing market for neuromorphic chips globally during the forecast period. Rapid digitization, increasing investment in AI from governments as well as private sector, and emergence of China and other Asian countries as global AI leaders are driving the growth. Countries like China, Japan, South Korea and India offer lucrative opportunities due to massive advancements seen in areas like robotics, autonomous vehicles, industrial automation, smart cities and more. Apart from growing domestic demand, the region has also emerged as a key manufacturing hub for semiconductor industry with major chipmakers setting up fabs.
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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.
