Global Neuromorphic Computing Market Highlights
Global Neuromorphic Computing Market was valued at
USD 42.08 Million in 2018 and is estimated to reach a market value of USD
648.40 Million by 2025 growing at a CAGR of 49.92% during the forecast period
2019–2025.
The Global Neuromorphic
Computing Market is growing at a significant rate, and the trend is expected to
continue during the forecast period. This is due to the decline in the growth
rate of the processing power of traditional chips and the rising demand for
AI-based applications. The key players operating in the global neuromorphic
computing market are heavily investing to offer enhanced computing capabilities
and lower the power consumption with the help of neuromorphic chips.
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Regional Analysis
Globally, the Neuromorphic
Computing Market has been categorized into four different regions, namely North
America, Europe, Asia-Pacific, and the rest of the world (the Middle East and
Africa and South America).
North America accounted for
the largest market share in 2018, with a market value of USD 36.39 Million; the
market is expected to register the highest CAGR of 50.06% during the forecast
period. Europe was the second-largest market in 2018, and it is projected to
exhibit the highest CAGR of 49.92% during the forecast period.
North America accounted for
the largest share for the neuromorphic computing market due to the presence of
various companies such as IBM Corporation, Intel Corporation, Qualcomm
Incorporated, and others which are developing various systems and processors
used for neuromorphic computing. Moreover, there is an increasing demand for
AI-based applications which is fuelling the development of this technology and
driving the neuromorphic computing market in the region. The North American
region, based on country, has been segmented into the US, Canada, and Mexico.
Europe is expected to
register steady growth in the global neuromorphic computing market during the
forecast period owing to the rising adoption of AI, machine learning, and
IoT-based systems in various industries such as automotive, IT & telecom,
aerospace and defense, and others. Moreover, increasing demand for better
productivity and efficiency of the overall process is also driving the market
in the region. The region by country has been segmented into the UK, Germany,
France, Spain, Italy, and the rest of Europe.
The Asia-Pacific region
accounted for a significant share in the neuromorphic computing market due to
the increasing adoption of AI, data analytics, IoT, and other technologies and
solutions; reduce human efforts; and increase the efficiency of the process.
The increasing demand for these technologies has increased the requirement of
fast processors and networks with high computing power resulting in the growing
demand for neuromorphic computing. Based on the country, the region has been
segmented as China, Japan, India, Australia, and the rest of Asia-Pacific.
The rest of the world
accounted for the fourth position in 2018 in the global neuromorphic computing
market. The market growth in this region is expected to remain stagnant due to
the presence of emerging economies and limited infrastructure support. However,
the market is expected to experience a growing trend in the future due to the
increasing investments to boost the AL and IoT solutions. The region has been
segmented into the Middle East and Africa and South America.
Global Neuromorphic Computing Market
Segmentation
The Global Neuromorphic
Computing Market has been segmented on the basis of Offering, Application,
End-User. Based on offering, the global neuromorphic computing market has been
segmented into hardware and software. Based on application, the Global
Neuromorphic Computing Market has been segmented into image recognition, signal
recognition, data mining, object detection, and others. By the end-user, the
global neuromorphic computing market has been segmented into automotive,
consumer electronics, aerospace and defense, IT and telecommunications,
industrial and others.
Prominent Players
Some of the Prominent
Players in the Global Neuromorphic Computing Market are IBM Corporation (US),
Intel Corporation (US), Applied Brain Research (Canada), SAMSUNG (South Korea),
BrainChip Holdings Ltd (Australia), Hewlett Packard Development LP (US), HRL
Laboratories (US), Qualcomm Incorporated (US), General Vision(US),
Vicarious (US), Numenta(US).
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