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Neuromorphic Computing Market Analysis – Growth Trends, Future Prospects & Contributions to Total Market


neuromorphic computing market


According to the MarketsandMarkets forecast, the Neuromorphic Computing Market is expected to grow from USD 6.6 Million in 2016 to USD 272.9 Million by 2022, at a CAGR of 86.0% between 2016 and 2022. The major factors driving the growth of the market include growth in the sensors market; rising demand for artificial intelligence and machine learning; increasing adoption of software in applications such as continuous online learning, real-time data streaming, predictive analysis, and data modelling; need for better performing ICs; growing demand for neuromorphic computing in applications such as video monitoring, machine vision, and voice identification; and the end of Moore’s law leading to new ways of computing.
Objective of the Study:
  • To define, describe, and forecast the neuromorphic computing market (limited to only those systems in which neuromorphic chips are being used, along with the software that complements the neuromorphic chips) on the basis of offering, application, industry, and geography
  •  To forecast the size of the various market segments with respect to four main regions—North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze micro-markets with respect to individual growth trends, future prospects, and contributions to the total market

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This report segments the neuromorphic computing market based on offerings, applications, industries, and geography. On the basis of offering, the market has been segmented into hardware and software. Software holds the largest share of the market due to its rapid adoption in industries such as aerospace & defense, IT & telecom, and medical.
The signal recognition technology is being used in a variety of applications, owing to the continuing advancements in computing power and the widespread adoption of mobile and cloud-based computer technology, which makes it the fastest growing application for neuromorphic computing.
Lack of R&D and investments slowing down the development of real-world applications, complex algorithms increase the complexity of designing hardware of neuromorphic chips, and lack of knowledge about neuromorphic computing are some of the major factors restraining the growth of the neuromorphic computing market.
The major players operating in the neuromorphic computing market include IBM Corp. (U.S.), HP Corp. (U.S.), Samsung Electronics Ltd. (South Korea), Intel Corp. (U.S.), HRL Laboratories, LLC (U.S.), General Vision Inc. (U.S.), Applied Brain Research, Inc. (U.S.), and BrainChip Holdings Ltd. (U.S.). General Vision Inc. is ranked first in the market. The company is developing a leading edge of pattern recognition and image recognition—technologies driven by the use and benefits of neuromorphic semiconductor components. The company aims to deliver solutions for real-life problems which are practical in terms of speed, power consumption, size, and cost.
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