A recent report published by Infinium Global Research on the neuromorphic computing market provides an in-depth analysis of segments and sub-segments in the global as well as regional neuromorphic computing market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional neuromorphic computing market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global neuromorphic computing market. According to the report, the global neuromorphic computing market is projected to grow at a CAGR of 10.9% over the forecast period of 2021-2027.
The neuromorphic computing market was valued at around 4.2 billion in 2021 and is expected to reach over 8.7 billion in 2027, growing with a CAGR of around 10.9% during the forecast period. Neuromorphic computing implements features of biological neural networks as analog or digital duplicates on electronic circuits. The main objective of this approach is to offer a tool for neuroscience to understand the dynamic procedures of learning and development in the brain and applying brain inspiration to generic cognitive computing. Furthermore, the neuromorphic computing platform comprises two vital systems based on the custom hardware architecture. Such systems are intended to program neural microcircuits by applying brain-like thought processes in cognitive computing and machine learning procedure. This process allows a machine to learn, adapt and function as a human brain does rather than functioning similarly to a normal computer. Moreover, to perform such a multifaceted task, the computing platform needs state-of-the-art circuit technologies and electronic components, which permit the platform to receive new data or knowledge, gained from numerous other sources of neuroscience research, for instance, theoretical neuroscience, brain modeling, and experimental neuroscience.
An increase in demand for artificial intelligence and machine learning is expected to boost market growth. The increasing need for better performing ICs, rising demand for machine learning tools and solutions, high demand for cognitive and brain robots, increasing demand for real-time analytics coupled with high adoption of advanced automated technology from numerous sectors such as telecommunication, manufacturing, retail, and logistics are also anticipated to act as major growth drivers for the neuromorphic computing market during the forecast period. Moreover, the emerging applications pertaining to automation and increasing adoption of neuromorphic computing for security purposes will further boost the growth of the market in the near future. However, the lack of R&D and investments slowing down the development of real-world applications together with the shortage of knowledge regarding neuromorphic computing are acting as market limitations for neuromorphic computing during the forecast period.
Among the geographies, the North American region is expected to hold the largest share in the global neuromorphic computing market. The dominance of this region can be accredited to the presence of a large number of technologically advanced industries such as aerospace, military & defense, and medical in the region. However, Asia Pacific is projected to be the fastest-growing market in the global neuromorphic computing market over the projection period. Countries such as China, India, Japan, and South Korea are expected to be the major contributors to the market in the Asia Pacific region. The increasing demand for automated services and processes from various sectors in countries in this region is expected to drive the regional market.
The report on the global neuromorphic computing market covers segments such as component, deployment, application, and end-user. On the basis of component, the sub-markets include hardware, and software. On the basis of deployment, the sub-markets include edge computing, and cloud computing. On the basis of application, the sub-markets include signal processing, data processing, image processing, object detection, and others. On the basis of end-user, the sub-markets include consumer electronics, automotive, healthcare, military & defense, and others.
The report provides profiles of the companies in the market such as Intel Corp., IBM Corporation, BrainChip Holdings Ltd., Qualcomm, HP Enterprise, Samsung Electronics Ltd., HRL Laboratories, LLC, Bit Brain Technologies, Nextmind SRL, and Ceryx Medical.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of neuromorphic computing market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.