BANGALORE, India, June 26, 2024 /PRNewswire/ -- Neuromorphic Chip
market is Segmented by Type (Image Recognition, Signal
Recognition, Data Mining), by Application (Consumer Electronics,
Wearable Medical Devices, Industrial Internet of Things, Others):
Global Opportunity Analysis and Industry Forecast, 2024-2030.
The global Neuromorphic Chip market was valued at USD 16 million in 2023 and is anticipated to
reach USD 1228.4 million by 2030,
witnessing a CAGR of 87.8% during the forecast period
2024-2030.
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Major Factors Driving the Growth of Neuromorphic Chip
market:
The market for neuromorphic chips is expanding due to a number
of important considerations. First and foremost, a primary driver
is the growing need for machine learning (ML) and artificial
intelligence (AI) applications, as neuromorphic circuits provide
effective and potent processing capabilities that resemble the
neural networks found in the human brain. Second, the demand for
these chips is driven by the growing requirement for
energy-efficient computer systems across a range of industries,
including consumer electronics, healthcare, and automotive.
Furthermore, the market is expanding more quickly due to
technological breakthroughs and higher investments in neuromorphic
research and development. Finally, the growing popularity of
neuromorphic chips—which offer real-time processing and lower
latency—in edge computing, robotics, and Internet of Things devices
drives this trend.
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TRENDS INFLUENCING THE GROWTH OF THE NEUROMORPHIC CHIP
MARKET
The Signal Recognition Neuromorphic Chip plays a key role in the
Industrial Internet of Things (IIoT) by improving edge
decision-making and real-time data processing. These chips imitate
the neural networks seen in the human brain, making it possible to
efficiently identify patterns and anomalies in massive streams of
industrial data. In predictive maintenance, quality control, and
operational efficiency, prompt and precise signal processing can
avert equipment breakdowns and enhance production procedures. The
market for neuromorphic chips is expanding significantly due to the
growing demand for sophisticated chips that can handle intricate
signal identification tasks, as industries use IIoT more and more
to increase productivity and streamline operations.
The market for neuromorphic devices is expanding due to image
recognition, which takes advantage of these chips' high processing
efficiency and low power consumption. Rapid and accurate image
processing is made possible by neuromorphic processors, which mimic
the neural networks of the brain. This is crucial for applications
like improved robotics, driverless cars, and surveillance systems.
These chips greatly improve the performance of image recognition
systems by handling intricate tasks including object detection,
facial recognition, and scene analysis in real-time. The market is
growing as a result of the increasing use of neuromorphic
processors for image recognition applications due to the growing
demand for sophisticated visual processing across a range of
industries.
The need for cutting-edge diagnostic and therapeutic
technologies in the healthcare and biomedical industries is
propelling the market expansion for neuromorphic chips. Medical
devices with neuromorphic processors can monitor and analyze
complicated biological information in real time, including brain
activity in brain-computer interfaces and neuroprosthetics. Their
capacity to swiftly and precisely handle vast volumes of data makes
them perfect for enhancing the accuracy and efficacy of medical
diagnosis and therapies. The market for neuromorphic chips is
expanding as a result of the healthcare sector's continued embrace
of personalized medicine and digital transformation.
Another important element propelling the demand for neuromorphic
chips is edge computing. Low-latency processing solutions are
needed because IoT devices are producing more data at the edge of
networks. Because neuromorphic devices have minimal power
consumption and can handle data in real time, they are ideal for
edge computing. They lessen the requirement for continuous data
transport to central servers by enabling intelligent data analysis
and decision-making at the edge. This capacity is pushing the
adoption of neuromorphic devices in edge computing scenarios, as it
is necessary for applications like industrial automation, smart
cities, and remote monitoring.
The market for neuromorphic chips is mostly being driven by the
development of autonomous systems, like drones and self-driving
cars. For these systems to understand sensor data, make judgments,
and traverse their surroundings on their own, they need highly
developed computing powers. Neuromorphic processors provide the
required computational power and efficiency because of their
capacity to process information similarly to the human brain. They
make it possible for complicated data inputs to be learned from and
decisions to be made in real time, which is crucial for the safe
and efficient functioning of autonomous systems. Thus, there is an
increasing need for neuromorphic chips due to the growing
investment in and acceptance of autonomous technology.
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NEUROMORPHIC CHIP MARKET SHARE ANALYSIS
With 18.57%, 17.43%, and 17.14% of revenue in 2019,
respectively, Intel Corporation, IBM Corporation, and Eta Compute
are the top three manufacturers in the sector.
Due to large R&D expenditures, sophisticated technology
infrastructure, and the presence of important industry players,
North America leads the world in
the neuromorphic chip market. Because of its thriving semiconductor
industry and significant emphasis on AI and machine learning
advancements, the United States is
leading the way. The region's widespread use of cutting-edge
technologies in industries including consumer electronics,
healthcare, and the automotive sector further supports market
expansion. The need for neuromorphic devices in North America is further supported by
government programs and funding for cybersecurity and defense
applications.
Key Players:
- IBM Corporation
- Intel Corporation
- Eta Compute
- Nepes
- GrAI Matter Labs
- GyrFalcon
- aiCTX
- BrainChip Holdings
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