Market Highlights:
Neuromorphic computing implements aspects of biological neural networks as analogue or digital copies on electronic circuits. The goal of neuromorphic computing is two-fold – One is offering a tool for neuroscience to understand the dynamic processes of learning and other is development in the brain and applying brain inspiration to generic cognitive computing. Key advantages of neuromorphic computing compared to traditional approaches are energy efficiency, execution speed, robustness against local failures and the ability to learn.
Neuromorphic computing is expected to gain huge momentum in the coming years due to the gaining familiarity of neuromorphic computing technology and rising demand for artificial intelligence. Artificial intelligence is used as applications in language processing, computer vision & image processing, translation & chatterbots, and non-linear controls & robotics.
One of the key areas where such systems would need break-through research would be in design of algorithms since biological systems autonomously process information through deep learning whereas any human designed chip or system would be limited by human designed algorithms. The applications areas currently comprise sensors in military as well as medical fields.
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Key Players
IBM Corp. (U.S.),
Hewlett Packard Enterprise (U.S.),
Samsung Group (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.) among others.
According to MRFR, The Global Neuromorphic Computing Market is expected to reach USD 225 Million by 2023
Segmentation
The market for neuromorphic computing market is segmented on the basis of application, offering, end-user and region. On the basis of offering, the segment is further classified into hardware and software. Neuromorphic computing has a wide range of applications such as image recognition, signal recognition, data mining, object detection and many more. By end-user, the market can be segregated into five segments: automotive, consumer electronics, automotive, defense, and healthcare. The consumer electronics is expected to hold the largest share in terms of end-use application of neuromorphic computing. The usage of neuromorphic computing in self-driven and smart vehicles is expected to bring a transition in transportation and furthermore propel the growth of automotive sector. The usage of neuromorphic chips in satellites for surveillance and aerial imagery is highly in demand in the defense sector.
Software is expected to hold the largest share of neuromorphic computing market, based on offering. Software has applications in video monitoring, machine vision, and voice identification. Increasing adoption of software in industries such as aerospace & defense, IT & telecom, and medical is driving the growth of the neuromorphic computing software market.
Regional Analysis
The region dominating the global neuromorphic computing market is North America. The countries such as the U.S., and Canada are holding a major share in the global neuromorphic computing market. The major market in the North American region contributing to the global market growth is the image recognition industry. The growing demand for automation in countries such as South Korea, China, Brazil, and India is triggering the global market growth in the Asia-Pacific region. The European market is also gaining momentum owing to the rise of opportunities for the neuromorphic projects.
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Intended Audience
- Government
- Semiconductor manufacturers
- Industries such as aerospace, automotive
- Research laboratories
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