Neuromorphic Computing Market Size

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.

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 â€“ 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 Size