Neuromorphic Chip Market Share, Opportunities, Industry 2030

Neuromorphic Chip Market Share, Opportunities, Industry 2030

Segments - Neuromorphic Chip Market by Offering (Hardware and Software), Applications, (Image Recognition, Signal Recognition, Data Mining, and Object Detection), Vertical (Aerospace, Military & Defence, Automotive, Consumer Electronics, Industrial, Medical, IT & Telecommunication, and Others (Smart Infrastructure & Education)), and Regions (North America, Europe, Asia Pacific, South America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021-2028

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Author : Raksha Sharma
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Editor : Shruti Bhat

Upcoming | Report ID :ICT-SE-3061 | 4.1 Rating | 77 Reviews | 174 Pages | Format : PDF Excel PPT

Report Description


The neuromorphic chip market is anticipated to expand at substantial CAGR during the forecast period, between 2021 and 2028. Neuromorphic engineering, also known as neuromorphic computing, describes the use of very-large-scale integration (VLSI) systems using electrical analogue circuits to replicate neuro-biological architectures seen in the nervous system.

Chips created with these technologies are intelligent and can simulate the human brain. The use of these chips not only makes the instrument more trustworthy, but it also improves its performance. These chips are responsible for the effectiveness of voice- and gesture-controlled gadgets.

Neuromorphic Chip Market key takeaways

This technology is expected to be used in high-tech robotics, future automobile designs, and other applications. Artificial intelligence (AI) is being used in a variety of industries, including medicine, media, entertainment, telecommunications, utilities, aircraft, military, consumer electronics, food and beverage, and plumbing.

  • Work from home (WFH) is becoming new trend which is increasing supply and demand for IT peripherals, which is estimated to drive the neuromorphic computing market.
  • Lack of R&D and investment, lack of understanding of neuromorphic computing and sophisticated algorithms act as hindrance to the market growth.
  • Factors such as complexity of adopting neuromorphic computing system, security, and privacy issues are projected to hamper the market.
  • Increasing number of machine-to-machine connections, as well as increasing penetration of artificial intelligence and machine learning, are driving the market.
  • Rising demand for high-performance integrated circuits act as a major driver of the neuromorphic computing market.
  • Increasing demand for artificial intelligence and cognitive and brain robots is a major growth driver for the industry.
  • Emerging automation applications, adoption of neuromorphic computing for security purposes, and growing potential of AI and neuromorphic computing in medical science, and medical imaging are expected to offer significant opportunities for the market players.

Scope of Neuromorphic Chip Market Report

The report on neuromorphic chip market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Neuromorphic Chip Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Offering (Hardware and Software), Applications, (Image Recognition, Signal Recognition, Data Mining, and Object Detection), Vertical (Aerospace, Military & Defence, Automotive, Consumer Electronics, Industrial, Medical, IT & Telecommunication, and Others (Smart Infrastructure & Education))

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Applied Brain Research, Inc.; BrainChip Holdings Ltd.; General Vision.; HRL Laboratories, LLC.; Hewlett Packard Enterprise Development LP; IBM Corporation. ; Intel Corporation. ; Qualcomm Technologies, Inc.; MemComputing, Inc.; Natural Intelligence.

Neuromorphic Chip Market Segment Insights

The software segment is expected to grow at the rapid pace

Based on offerings, the neuromorphic chip market is bifurcated into hardware and software. The hardware segment is sub-divided into processor and memory. Applications of neuromorphic computing software include continuous online learning, real-time data streaming, prediction, and data modeling. The increasing adoption of software in areas like as aerospace & military, information technology & telecommunications, and medicine is driving the market.

Neuromorphic Chip Market Offering

The image recognition segment is expected to expand at a rapid pace

In terms of applications, the market is segregated into image recognition, signal recognition, data mining, and object detection. The image recognition segment is expected to grow at a rapid pace. There are numerous advantages that image recognition can provide society ranging from reducing unnecessary human interaction and labor to preventing crimes and increasing safety and security. Advancements in automobile technology are made possible by computer vision technology, which employs AI image recognition.

Neuromorphic Chip Market Applications

The aerospace, military, & defense industries are estimated to hold the major share of the market

On the basis of verticals, the neuromorphic chip market is fragmented into aerospace, military, & defence, automotive, consumer electronics, industrial, medical, IT, telecommunication, and others. The others segment is further segregated into smart infrastructure and education. The aerospace, military, & defence segment is projected to hold major market share.

Neuromorphic computing can process information quicker than any other processor, which aids the military and defense industries in processing sensitive data such as combat data, including weapon and resource management. Another reason driving the market is the increased necessity for testing and transferring signals to securely code and transmit data from one end to another to lessen the threat of security issues.

North America is expected to dominate the market

Based on regions, neuromorphic chip market is split into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is estimated to account for 40% of the worldwide neuromorphic computing market share in 2021. The widespread recognition of the benefits of neuromorphic computing in industries such as aerospace, military & defense and medical is a primary driver the segment.

The United States is the major adopter of artificial intelligence for machine learning, natural language processing (NLP), image processing, and speech recognition across industries such as medical and automotive.

Segments

Offering

  • Hardware
    • o Processor
    • o Memory
  • Software

Application

  • Image Recognition
  • Signal Recognition
  • Data Mining
  • Object Detection

Vertical

  • Aerospace, Military, & Defence
  • Automotive
  • Consumer Electronics
  • Industrial
  • Medical
  • IT & Telecommunication
  • Others (Smart Infrastructure & Education)

Regions

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

By Key Players

Competitive Landscape

Key players in the neuromorphic chip market include Applied Brain Research, Inc.; BrainChip Holdings Ltd.; General Vision.; HRL Laboratories, LLC.; Hewlett Packard Enterprise Development LP; IBM Corporation. ; Intel Corporation. ; Qualcomm Technologies, Inc.; MemComputing, Inc.; Natural Intelligence. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.

Neuromorphic Chip Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Neuromorphic Chip Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Neuromorphic Chip Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Neuromorphic Chip Market - Supply Chain
  4.5. Global Neuromorphic Chip Market Forecast
     4.5.1. Neuromorphic Chip Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Neuromorphic Chip Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Neuromorphic Chip Market Absolute $ Opportunity
5. Global Neuromorphic Chip Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Neuromorphic Chip Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Neuromorphic Chip Demand Share Forecast, 2019-2026
6. North America Neuromorphic Chip Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Neuromorphic Chip Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Neuromorphic Chip Demand Share Forecast, 2019-2026
7. Latin America Neuromorphic Chip Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Neuromorphic Chip Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Neuromorphic Chip Demand Share Forecast, 2019-2026
8. Europe Neuromorphic Chip Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Neuromorphic Chip Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Neuromorphic Chip Demand Share Forecast, 2019-2026
9. Asia Pacific Neuromorphic Chip Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Neuromorphic Chip Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Neuromorphic Chip Demand Share Forecast, 2019-2026
10. Middle East & Africa Neuromorphic Chip Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Neuromorphic Chip Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Neuromorphic Chip Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Neuromorphic Chip Market: Market Share Analysis
  11.2. Neuromorphic Chip Distributors and Customers
  11.3. Neuromorphic Chip Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Applied Brain Research, Inc.
     11.4.2. BrainChip Holdings Ltd.
     11.4.3. General Vision.
     11.4.4. HRL Laboratories, LLC.
     11.4.5. Hewlett Packard Enterprise Development LP
     11.4.6. IBM Corporation
     11.4.7. Intel Corporation

Methodology

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