Neuromorphic Computing Market 2020: Size, Share, Trends, Forecast to 2025
Posted by Eshu Gupta on December 22nd, 2020
Neuromorphic computing is an emerging interdisciplinary field that involves designing sophisticated devices based on complex neural circuits of the brain. The technology implements aspects of biological neural networks as analog or digital copies of electronic circuits. Energy efficiency, execution speed, robustness against local failures, and the ability to learn are the key advantages of neuromorphic computing over traditional approaches.
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The Global Neuromorphic Computing Market is growing at a significant rate, and the trend is expected to continue during the forecast period. This is due to the decline in the growth rate of the processing power of traditional chips and the rising demand for AI-based applications. The key players operating in the global neuromorphic computing market are heavily investing to offer enhanced computing capabilities and lower the power consumption with the help of neuromorphic chips.
The Global Neuromorphic Computing Market has been segmented on the basis of Offering, Application, End-User. Based on offering, the global neuromorphic computing market has been segmented into hardware and software. Based on application, the Global Neuromorphic Computing Market has been segmented into image recognition, signal recognition, data mining, object detection, and others. By the end-user, the global neuromorphic computing market has been segmented into automotive, consumer electronics, aerospace and defense, IT and telecommunications, industrial and others.
Globally, the Neuromorphic Computing Market has been categorized into four different regions, namely North America, Europe, Asia-Pacific, and the rest of the world (the Middle East and Africa and South America).
North America accounted for the largest market share in 2018, with a market value of USD 36.39 Million; the market is expected to register the highest CAGR of 50.06% during the forecast period. Europe was the second-largest market in 2018, and it is projected to exhibit the highest CAGR of 49.92% during the forecast period.
North America accounted for the largest share for the neuromorphic computing market due to the presence of various companies such as IBM Corporation, Intel Corporation, Qualcomm Incorporated, and others which are developing various systems and processors used for neuromorphic computing. Moreover, there is an increasing demand for AI-based applications which is fuelling the development of this technology and driving the neuromorphic computing market in the region. The North American region, based on country, has been segmented into the US, Canada, and Mexico.
Some of the Prominent Players in the Global Neuromorphic Computing Market are IBM Corporation (US), Intel Corporation (US), Applied Brain Research (Canada), SAMSUNG (South Korea), BrainChip Holdings Ltd (Australia), Hewlett Packard Development LP (US), HRL Laboratories (US), Qualcomm Incorporated (US), General Vision (US), Vicarious (US), Numenta (US).
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About the AuthorEshu Gupta
Joined: July 8th, 2020
Articles Posted: 58
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