Neuromorphic Computing Market – Improvement in Technology is Expected to Drive the Growth of the Market
Neuromorphic computing know as neuromorphic engineering is a technology wherein very large scale integration (VLSI) systems that have electronic circuits and coded programme are used to depict neuro-biological behavior of nervous system of a human.
Rising demand for machine learning and artificial intelligence is a major factor driving growth of the global neuromorphic computing market. In addition, increasing demand for real-time analytics and advanced automated and smart process and solutions is another factor fueling growth of the global neuromorphic computing market. High research and development cost coupled with complexities in system integration are major factors hampering growth of the global market.
High cost of product development and complex integration are major factors hampering growth of the global neuromorphic computing market. In addition, lack of awareness is another factor hampering growth of the global market. Increasing research and development activities by top universities and major players is expected to create opportunities for market growth over the forecast period. For instance, Massachusetts Institute of Technology (MIT), researchers are developing new chip designs for computers that will work like humans. The global neuromorphic computing market report has been segmented on the basis of application, end-use, and region.
On the basis of application, the global market is segmented into signal processing, image processing, data processing, object detection, and others. The image processing segment accounts for highest market share in terms of revenue; whereas the signal processing segment is expected to witness significant growth over the forecast period.
On the basis of end-use, the global market is segmented into consumer electronics, automotive, healthcare, military & defense, industrial, and others. The consumer electronics segment accounts for highest revenue share and is expected to dominate the global market over the forecast period. The automotive segment is expected to witness significant growth over the next 10 years.
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Segmentation on the basis of application:
- Signal Processing
- Image Processing
- Data Processing
- Object Detection
Segmentation on the basis of end-use:
- Consumer Electronics
- Military & Defense
On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America neuromorphic computing market accounts for highest market share and is expected to dominate the global market over the forecast period. This dominance can be attributed to presence of major neuromorphic chip manufacturers and early adoption of this technology. The Asia Pacific neuromorphic computing market is projected to register highest growth over the next 10 years.
Key players in the global market are Hewlett Packard Enterprise Development LP, Samsung Electronics Co. Ltd., International Business Machines (IBM) Corporation, Intel Corporation, HRL Laboratories, Brain Corporation, General Vision Inc., BrainChip Holdings Ltd., Applied Brain Research Inc., Numenta, and other prominent players.
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