Neuromorphic Computing Market Forecasts to 2028 – Global Analysis By Offering (Hardware and Software), Deployment (Cloud Computing and Edge Computing), Application, End User and By Geography
According to Stratistics MRC, the Global Neuromorphic Computing Market is accounted for $3.10 billion in 2020 and is expected to reach $11.83 billion by 2028 growing at a CAGR of 18.2% during the forecast period. Increase in demand for artificial intelligence and machine learning, cross-industry partnerships and collaborations and need for better-performing integrated circuits (ICs) are driving the market growth. However, lack of research & development and investments are hampering the growth of the market.
Neuromorphic computing allows users to make use of numerous advantages such as low power consumption, high speed, optimum usage of memory and cognitive computing. Furthermore, these chips find high application in satellite imagery, aerial surveillance, and audio and signal processing.
Based on the offering, the software segment is going to have lucrative growth during the forecast period. The neuromorphic computing software has applications such as real-time data streaming, prediction, continuous online learning and data modelling. Growing adoption of software in industries such as information technology (IT) & telecom, aerospace & defense, and medical is also driving the growth of the market for neuromorphic computing software.
By geography, North America is going to have high growth during the forecast period. Widespread awareness about the benefits of neuromorphic computing in industries such as military & defense, aerospace and medical is a major driver for the dominance of this region.
Some of the key players profiled in the Neuromorphic Computing Market include aiCTX AG, Applied Brain Research, Inc., Aspinity Inc, Brainchip Holdings Ltd, General Vision Inc., Hewlett Packard Enterprise, HRL Laboratories, LLC, IBM Corporation, Intel Corp., Invitation AG, Numenta, Qualcomm Inc., Samsung Electronics Limited, Sony and Vicarious.
Estimated Market Size in 2020:
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
Tables, Graphs& Figures
Diagnostic Test, Diagnostic Technologies Type, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Cloud Computing
• Edge Computing
• Data Mining
• Data Processing
• Image Recognition
• Object Detection
• Price Prediction
• Signal Recognition
• Trading Pattern Detection
• Vision Guided Robotics
End Users Covered:
• Aerospace, Military & Defense
• Consumer Electronics
• Information Technology (IT) & Telecommunication
• Smart Infrastructure
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Neuromorphic Computing Market is majorly driven by Increase in demand for artificial intelligence and machine learning, cross-industry partnerships and collaborations and need for better-performing integrated circuits (ICs).
The software segment is growing at a highest CAGR owing to applications such as real-time data streaming, prediction, continuous online learning and data modelling.
North America dominated with a significant market share due to the factors such as Extensive awareness about the benefits of neuromorphic computing in industries such as aerospace, military & defense and medicalacross the region.
Asia Pacific market is growing at a highest CAGR owing to countries such as China, Japan, and South Korea which are expected to be the major contributors to market in this region.
Key players in Neuromorphic Computing Market include aiCTX AG, Applied Brain Research, Inc., Aspinity Inc, Brainchip Holdings Ltd, General Vision Inc., Hewlett Packard Enterprise, HRL Laboratories, LLC, IBM Corporation, Intel Corp., Invitation AG, Numenta, Qualcomm Inc., Samsung Electronics Limited, Sony and Vicarious.
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