Neuromorphic Computing Market Size & Share, by Offering (Hardware, Processor, Memory, Software); Deployment (Edge Computing, Cloud Computing); Application (Signal Processing, Image Processing, Data Processing, Object Detection); End-user (Aerospace, Consumer Electronics, Automotive, IT & Telecom, Military & Defense, Industrial, Medical) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 5017
  • Published Date: Jun 14, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Neuromorphic Computing Market size is anticipated to cross USD 2626.4 Billion by the end of 2035, growing at a CAGR of 92% during the forecast period i.e., 2023-2035. In the year 2022, the industry size of neuromorphic computing was surpassed USD 1.04 Billion. Increasing demand for the automation of functions in various sectors using artificial intelligence and machine learning tools to improve the quality and efficiency of end products is estimated to boost market expansion. The growing need for integrated circuits with high performance is estimated to propel the market expansion. In 2021, globally more than 350 integrated circuit units are shipped with a growth rate of 20% from the year 2020.

The rising application of neuromorphic technology in the healthcare sector to develop medical devices, and medical imaging analytics to get a clear view of the diagnosed diseases is driving the market size. The rising automation of automobiles across the world to enhance profits and growing investment from automobile owners to achieve level 5 automation of vehicles is fueling the size of the neuromorphic computing market. It was observed that by the end of 2025, level 2 cars are expected to occupy 60% of car sales around the world. Also, the demand for cognitive technology in media, entertainment, food and beverages industry, and consumer devices is promoting market value.


Neuromorphic Computing Market
Get more information on this report: Request Free Sample PDF

Neuromorphic Computing Sector: Growth Drivers and Challenges

Growth Drivers

  • Rising Application of Artificial Intelligence and Machine Learning – The growing demand for artificial intelligence and machine learning in robotics, language processing, image processing, interpretation, and nonlinear regulation is dominating the market value. Furthermore, there has been the utilization of neuromorphic technology in the acceleration, transmission, and implementation of next-generation semiconductors and sovereign systems. The performance of an AI neuromorphic chip is 1000 times faster compared to central and graphic processing units.
  • Increasing Use of Cognitive and Brain Robotics – The implementation of neuromorphic engineering technology in electronic devices supports cognitive decisions such as the detection of fraud, credit scoring, speech recognition, image classification, and language translation. Artificial intelligence and machine learning technologies also help in building robotic systems with high performance, less energy consumption, efficiency, and advanced features such as self-driving automobiles. Worldwide, over 32% use Siri, 30% use Alexa and over 24% use google assistant as of 2022 reports.
  • Growing Applications in Drones, Medical Devices, and Chatterbots – The adoption of neuromorphic chips in drone cameras with a chip that intakes the signals from the camera and processes the data similar to the human brain enhances the sensing of the drones much faster. This technology is hugely implemented in the military and defense sector to provide processing power and hasten the decision-making time during the war by assisting the soldiers with analytical results.

Challenges

  • Less Research and Development Activities and Decreased Deployment Opportunities – Neuromorphic development needs extensive hardware and software manufacturing research and development to reach a market value. The presence of many restrictions for these developments due to limited funds, lack of skilled personnel, and availability of advanced hardware and software technologies are hampering the market growth. The dearth of algorithm void in the new advancements and the slow rise in the neuromorphic computing sector is hindering the market share.
  • Increase in the Complexity of Algorithms and Backend Operations
  • Lack of Knowledge of Neuromorphic Technology

Neuromorphic Computing Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~92%

Base Year Market Size (2022)

~ USD 1.04 Billion

Forecast Year Market Size (2035)

~ USD 2626.4 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
Get more information on this report: Request Free Sample PDF

Neuromorphic Computing Segmentation

  • Offering (Hardware, Processor, Memory, Software)

The hardware segment is anticipated to register significant growth in the coming years. The increasing use of hardware for neuromorphic computing such as microcontroller units (MCUs), and field programmable gate arrays (FPGAs) is expected to fuel the market segment gain. The neuromorphic chips are configured as biological brains, processing data, images, and sound to respond to the changes without a special program that is anticipated to hike the progression of the market segment. The rising adoption of neuromorphic hardware in the hardware platforms to speed up computing and increasing deployment, and incorporation of machine learning algorithms is likely to boost the market extension.

  • End Users (Aerospace, Consumer Electronics, Automotive, IT & Telecom, Military & Defense, Industrial, Medical)

The consumer electronic segment is projected to reach a substantial growth rate between 2023 and 2035. The increasing demand for electronic devices and other electronics including smartphones, laptops, computers, and tablets, will be forecast to augment the market segment expansion. The increasing adoption of wearable devices with advancements in technology contributes to the well-being of the economy and neuromorphic engineering that hikes the neural networks in hardware and is estimated to hike the market segment expansion.

Our in-depth analysis of the global market includes the following segments:

 

         Offering

 

  • Hardware
  • Processor
  • Memory
  • Software

 

          Deployment

 

  • Edge Computing 
  • Cloud Computing

 

          Application

 

  • Signal Processing
  • Image Processing
  • Data Processing
  • Object Detection

         End Users

  • Aerospace
  • Consumer Electronics
  • Automotive
  • IT & Telecom
  • Military & Defense
  • Industrial
  • Medical

Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.

Customize this Report

Neuromorphic Computing Industry- Regional Synopsis

North American Market Forecast

The North American neuromorphic computing market is estimated to garner significant revenue by the end of 2035. The growing demand for artificial-based voice speech recognition technology, along with rising government investments and efforts to enhance the use of neuromorphic technology is fueling market gain. The increasing demand for the integration of neuromorphic computing in the region in various end-user sectors such as physical science, nanotechnology, electrical engineering, computer engineering, and neuroscience is propelling the market size expansion in the countries such as the United States. The increasing need for energy-efficient, portable technology with endurance and mobility enhancement for soldiers in the military is anticipated to drive the market share.

APAC Market Analysis

The Asia Pacific neuromorphic computing market is anticipated to achieve notable progress during the coming years. The growing use of artificial intelligence, data analytics, the Internet of Things (IoT), and other technologies is driving the market share. The increasing efforts by people to apply neuromorphic technology in electronic devices, and the use of neuromorphic chips in the computing architecture to resemble the structure of neural networks are set to influence the neuromorphic computing market in the Asia Pacific region. is hiking the market size.

Research Nester
Neuromorphic Computing Market Size
Get more information on this report: Request Free Sample PDF

Companies Dominating the Neuromorphic Computing Landscape

top-features-companies
    • IBM Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Intel Corporation
    • Brainchip Holdings Limited
    • Qualcomm Technologies
    • HP Enterprise
    • HRL Laboratories LLC
    • Flow Neuroscience AB
    • Innatera Nanosystems B.V.
    • Aspinity, Inc.
    • Samsung Electronics Limited 

In-the-news

In The News

  • Brainchip Holdings ¿associated neuromorphic AI IP associated with CVEDIA, an AI-based video analytics solution provider to improve the state-of-the-art in neuromorphic computing and Edge AI. The partnership provided the ability to develop and create video analytics for security, surveillance, ITS, transportation, and retail services without depending on cloud connectivity or extreme energy consumption.
  • Intel Corporation collaborated with the Italian Institute of Technology and Technical University of Munich to develop a new approach with research on neural network-based object learning. The research helped to enhance the interactive, and continual learning capabilities of robotic assistants and manufacturing robots using neuromorphic computing. The new advancement helped the robots to learn and update about a new object and to recognize and feedback about the known object.

Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 5017
  • Published Date: Jun 14, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising application of AI and ML, and the increasing use of cognitive and brain robotics are the major factors driving the market growth.

The market size of neuromorphic computing is anticipated to attain a CAGR of ~92% over the forecast period, i.e., 2023 – 2035.

The major players in the market are IBM Corporation, Intel Corporation, Brainchip Holdings Limited, Qualcomm Technologies, HP Enterprise, HRL Laboratories LLC, Flow Neuroscience AB, Innatera Nanosystems B.V., Aspinity, Inc., Samsung Electronics Limited, and others.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by offering, deployment, application, end users, and by region.

The hardware segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

An increase in the complexity of algorithms and backend operations, and a lack of knowledge of neuromorphic technology are estimated to be the growth-hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Neuromorphic Computing Market Report Scope
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying