Neuromorphic Computing Global Market 2019 Size, Share, Segments, Trends, Industry Forecast by Installation, Application, Industry Verticals 2023

Neuromorphic Computing Global Market 2019 Size, Share, Segments, Trends, Industry Forecast by Installation, Application, Industry Verticals 2023

“\” Neuromorphic Computing Global Market \””
The Neuromorphic Computing Global Market is expected to grow at 49% CAGR through the forecast period.

Neuromorphic Computing Market – Overview

Adoption of speech recognition in industries such as medical and automotive & transportation is another major factor driving the market growth. The main factors, which has driven research and development of neuromorphic chips, are tremendous demand for data and data analytics, miniaturization of sensors, ingress of Artificial Intelligence into software of almost all intelligent machines and high cost of further miniaturization of integrated circuits.

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Neuromorphic computing implements aspects of biological neural networks as analogue or digital copies on electronic circuits. The goal of neuromorphic computing is two-fold – One is offering a tool for neuroscience to understand the dynamic processes of learning and other is development in the brain and applying brain inspiration to generic cognitive computing. Key advantages of neuromorphic computing compared to traditional approaches are energy efficiency, execution speed, robustness against local failures and the ability to learn.

Neuromorphic computing is expected to gain huge momentum in the coming years due to the gaining familiarity of neuromorphic computing technology and rising demand for artificial intelligence. Artificial intelligence is used as applications in language processing, computer vision & image processing, translation & chatterbots, and non-linear controls & robotics.

Some applications will include neuromorphic sensors in smartphones, smart cars and robots or olfactory detection. The technology could integrate brain-like capabilities in devices and machines that are currently limited in speed and power. In effect, this could be the final step towards developing cognitive computing and systems that are able to learn, remember, reason or help humans make better decisions.

Lack of R&D investments and knowledge about neuromorphic computing among consumers are the major restraints of neuromorphic computing market.

Neuromorphic Computing Market Key Players:

IBM Corp. (U.S.), Hewlett Packard Enterprise (U.S.), Samsung Group (South Korea), Intel Corp. (U.S.), HRL Laboratories, LLC (U.S.), General Vision Inc. (U.S.), Applied Brain Research Inc. (U.S.), and BrainChip Holdings Ltd. (U.S.)  among others

Neuromorphic Computing Industry Segments

The segmentation of the neuromorphic computing market is carried out on the basis of offering, application, end-user and region. On the basis of the offerings, the segment comprises of hardware and software. The wide range of applications of the neuromorphic computing market includes object detection, signal recognition, image recognition, data mining and many more. The regions included in the market are Asia Pacific, Europe, North America and rest of the world. The end-user segment of the market comprises of segments such as consumer electronics, automotive, defense, automotive, and healthcare. 

Neuromorphic Computing Market Global Competitive Analysis:

The key trends and players have established a positive tone for development. The competitors in the market are persistently trying to establish leading market positions through new policies and strategies. The experienced management in the companies operating in the market are creating business models which can bring about a fruitful phase of development. The competitors in the market are trying to succeed commercially by ensuring demand and supply are in balance. The contenders in the market are also leveraging their competitive advantages to secure their growth in the market. The momentum of the market’s growth has altered the competitive backdrop of the market. The market development by competitors also comprises of strong risk management.

Neuromorphic Computing Market: Industry Updates:

Jan 2018 Intel has recently announced a milestone in its efforts to research and develop future computing technologies in neuromorphic computing. Intel’s research into neuromorphic computing comprises of a new computing paradigm that draws inspiration from the functioning of the brain. This will aid in unlocking the exponential gains in power and performance efficiency for the future of artificial intelligence. To this end, they have developed a neuromorphic research chip, code-named “Loihi,” which consist of digital circuits that impersonate the brain’s basic operation. The Loihi chip combines training and inference on a single chip with the objective of making machine learning extra power efficient. Neuromorphic chips could eventually be used anywhere real world data needs to be processed in developing real-time environments. In the start of this year, Intel has planned to share the Loihi test chip with the top university and research institutions while relating it to more complex data sets and problems.

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Neuromorphic Computing Market Detailed Regional Analysis:

The region wise segmentation of the market observes that the North America region is controlling the neuromorphic computing market globally. The nations such as the U.S., and Canada have a major share in the neuromorphic computing market globally. The key market in the North American region which contributes to the global market growth is the image recognition industry. The mounting demand for automation in nations such as China, South Korea, Brazil, and India is prompting the market growth in the Asia Pacific region. The European market is also achieving momentum due to the upsurge of opportunities for neuromorphic projects.

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