Neural processor market is anticipated to grow at a CAGR of 17.5% during the forecast period (2024-2031). A neural processor, also known as a neural processing unit (NPU), is a specialized circuit that implements all the control and arithmetic logic required to run machine learning algorithms, typically by working with predictive models such as artificial neural networks (ANNs) or random forests (RFs). Neural processors can be designed digitally or analogously. Analog chips are more closely related to the biological properties of brain networks than digital processors. As a result, they ought to use less energy than digital neuromorphic computers, theoretically. Furthermore, they have the potential to extend the processing duration beyond the time limit, allowing the pace to be adjusted to process data faster than in real time.
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AI applications are gaining popularity in a variety of end-use industries, including healthcare, finance, and automotive. These processors play a significant role in accelerating AI-generated activities such as image recognition, natural language processing, and deep learning, to meet the need for AI-powered solutions, which is likely to drive the neural processor market growth. For instance, August 2021, at the annual Hot Chips conference, IBM revealed details about the impending new IBM Telum Processor, which is intended to deliver deep learning inference to enterprise workloads to combat fraud in real-time. Telum is IBM’s first processor to include on-chip acceleration for AI inference while a transaction is ongoing. The breakthrough of this new on-chip hardware acceleration, which has been in development for three years, is intended to assist customers in achieving business insights at scale across banking, finance, trading, insurance, and consumer engagements.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Neural Processor Market Report Segment
By Application
- Fraud Detection
- Hardware Diagnostics
- Financial Forecasting
- Image Optimization
- Others (Disease diagnostics, Algorithm Trading)
By End-User
- BFSI
- Healthcare
- Retail
- Defense Agencies
- Media
- Logistics
- Others
Global Neural Processor Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East and Africa
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global neural processor market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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