The global neuromorphic computing market is anticipated to grow at a CAGR of around 19.5% during the forecast period (2024-2031). The shift from conventional computing architectures to data-driven, cognitive computing is the key reason that has augmented the growth of the neuromorphic computing market. Furthermore, the explosive growth of data and information has motivated technological developments in computing systems that utilize them for efficiently discovering patterns and gaining relevant insights. Neuromorphic computing can process information faster than any other processor and that makes them highly adaptable in verticals such as military & defense and aerospace, automotive, IT & telecom, industrial, and others. Neuromorphic computing uses neuromorphic chips that can greatly reduce transportation times expended by a conventional CPU by processing and storing data in the same chip. Thus, a need for better-performing ICs for efficient computing is helping the market to expand.
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Furthermore, the market is also driven by the presence of major market players and their contribution towards market growth. The market players such as Intel Corp. (US), IBM Corporation (US), BrainChip Holdings Ltd. (US), Qualcomm (US), and HP Enterprise (US) are adopting numerous strategies which include partnership collaborations, new product launches and developments, and business expansion, to sustain in the competition. For instance, in January 2021, GrAI Matter Labs introduced GrAI VIP, Vision Inference Processor, a full-stack AI system-on-chip platform that will drive a significant step in fast responsiveness for visual inference capabilities in robotics, industrial automation, AR/VR, and surveillance products and markets. Besides, in March 2020, Intel Corp announced the completion of Pohoiki Springs, its latest and most powerful neuromorphic research system, with a computational capacity of 100 million neurons. Similarly, in October 2020, Intel Federal LLC announced a three-year agreement with Sandia National Laboratories (Sandia) and to explore the value of neuromorphic computing for scaled-up computational problems.
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Market Coverage
- Segment Covered-
o By Offering
o By Deployment
o By Application
o By Verticals
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Intel Corp, IBM Corp, BrainChip Holdings Ltd., Qualcomm Technologies, Inc., HP Enterprise, Brain Corp, General Vision, Inc., HRL Laboratories LLC, Numenta, Inc., Vicarious FPC, Inc., Samsung Electronics Co. Ltd., Applied Brain Research, Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Neuromorphic Computing Market Report Segment
By Offering
- Hardware
- Software
By Deployment
- Edge Computing
- Cloud Computing
By Application
- Data Mining
- Object Detection
- Image & Signal Processing
- Others
By Vertical
- Aerospace and Military & Defense
- Automotive
- Consumer Electronics
- Healthcare
- IT & Telecom
- Industrials
- Others
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