Global Neuromorphic Computing Market: Envisions Steady Growth with 81.1% CAGR Projection by 2030.
Global Neuromorphic Computing Market: In-Depth Analysis and Forecasts for 2024-2030
MarkNtel Advisors, a leading market research firm, has showed its latest study titled “Neuromorphic Computing Market“, offering a detailed industry overview and market perspective. This comprehensive research provides insights into the current state of the market, highlighting recent advancements and emerging trends.
The report combines in-depth quantitative analysis with qualitative analysis; it ranges from macro-overviews of the overall market size, industry chain, and market dynamics to micro details of segment markets. This, as a result, provides a thorough overview of the industry under study as well as a profound understanding of all of its important features.
Analysis and Insights into the Neuromorphic Computing Market: 2024-2030
The Global Neuromorphic Computing Market is estimated to grow at a CAGR of around 81.1% during the forecast period, i.e., 2024-30. The major factor that has been driving the growth of the market is the rising demand for AI & ML technologies across various end-user industries. In line with the automation of industrial and manufacturing units across countries like India, the UAE, China, etc., companies have been largely inclining toward the integration of AI and ML software across their industrial units. To regulate & monitor large volumes of data across these industries, the demand for energy-efficient and effective integrated chips has enhanced, fueling the demand for neuromorphic computing software during the historical years.
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What are the primary factors driving the growth of the Neuromorphic Computing Market?
Rising Demand for High-performance Integrated Circuits (ICs) – The limitations of reducing the size & number of transistors on integrated circuits (ICs) have been creating the demand for new-generation and highly effective neuromorphic chips across the globe. End-user industries like consumer electronics, automotive, etc., have been observed to prefer neuromorphic chips as they offer a substantial boost in processing power, enabling more complex computations & data handling in comparison to traditional chips.
Further, the IT industry, in recent years, has started looking for computing technologies that enable self-learning capacity & require minimum manual input. This has further led market players to introduce computing chips to better processing features to the IT industry. For instance:
- In 2023, BrainChip Holdings Ltd teamed up with VVDN Technologies, a prominent electronics engineering and manufacturing firm, to introduce the industry’s inaugural Edge box based on neuromorphic technology. This Edge box harnesses BrainChip’s Akida™ processors, which mimic the human brain’s structure & functionality.
Therefore, with the increasing requirement for high-performance ICs, especially across the IT & Telecom sectors, neuromorphic chips are projected to witness improved demand in coming years as well.
Neuromorphic Computing Market Segmentation:
The Neuromorphic Computing market is categorized in to different segments. Analyzing growth across these segments enables a comprehensive understanding of key growth areas within the industry. This segmentation provides valuable market insights, empowering stakeholders to make strategic decisions and identify primary market applications effectively.
By Component
- Hardware- Market Size & Forecast 2019-2030, USD Million
- Processor- Market Size & Forecast 2019-2030, USD Million
- Memory Modules- Market Size & Forecast 2019-2030, USD Million
- Software- Market Size & Forecast 2019-2030, USD Million
- Services- Market Size & Forecast 2019-2030, USD Million
By Deployment
- Cloud Computing- Market Size & Forecast 2019-2030, USD Million
- Edge Computing- Market Size & Forecast 2019-2030, USD Million
By Application
- Image Recognition- Market Size & Forecast 2019-2030, USD Million
- Signal Recognition- Market Size & Forecast 2019-2030, USD Million
- Data Mining- Market Size & Forecast 2019-2030, USD Million
- Others (Cognitive Computing, Neuroscience Research, etc.) – Market Size & Forecast 2019-2030, USD Million
By End User
- Consumer Electronics- Market Size & Forecast 2019-2030, USD Million
- IT & Telecommunication- Market Size & Forecast 2019-2030, USD Million
- Aerospace & Defense- Market Size & Forecast 2019-2030, USD Million
- Healthcare- Market Size & Forecast 2019-2030, USD Million
- Industrial Manufacturing- Market Size & Forecast 2019-2030, USD Million
- Automotive- Market Size & Forecast 2019-2030, USD Million
- Others (BFSI, Education, etc.) – Market Size & Forecast 2019-2030, USD Million
Geographical Analysis into the Neuromorphic Computing Market:
The Neuromorphic Computing market is categorized based regional:
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
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Competitive Landscape and Neuromorphic Computing Market Share Analysis:
The competitive landscape of the Neuromorphic Computing Market includes comprehensive details about competitors. These details encompass company overviews, financial performance, revenue generation, market potential, investments in research and development, new market strategies, production facilities, strengths and weaknesses, product launches, ongoing trials, approvals, patents, product range, dominant applications, and technology life cycle.
- International Business Machines Corporation
- Brain Corporation
- Prophesee S.A.
- General Vision, inc
- Hewlett Packard Company
- Intel Corporation
- Knowm Inc
- Qualcomm Technologies, Inc
- Samsung Electronics Co., Ltd
- Silicon Storage Technology Inc.
- TECHiFAB GmbH
- Applied Materials, Inc.
- Micron Technology
- SK Hynix Inc.
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Questions Addressed in this Study
- What factors are driving the Neuromorphic Computing Market growth?
- How is the Neuromorphic Computing Market expected to grow over the next five years?
- What are the key insights into the current trends in the Neuromorphic Computing Market?
- What is the current size of the Neuromorphic Computing Market, and how is it projected to change in the future?
- What is the future outlook for the Neuromorphic Computing Market in terms of technological advancements and market expansion?
Why choose MarkNtel?
MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 14.8 diverse industrial verticals.
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