Neuromorphic Computing Market Scope and overview, Global Insights and Trends, Forecasts to 2030
Posted by Animesh Rao on July 13th, 2022
Neuromorphic Computing Market Highlights
Neuromorphic Computing Market is predicted to touch USD 8,351 Million at a whopping 21% CAGR between 2020- 2030. The market research report is the compilation of analysis and deep assessment of industry experts and associated participants across the value chain.
The 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 neuromorphic computing market are heavily investing to offer enhanced computing capabilities and lower the power consumption with the help of neuromorphic chips.
Neuromorphic Computing Market Regional Analysis
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.
Europe is expected to register steady growth in the global neuromorphic computing market during the forecast period owing to the rising adoption of AI, machine learning, and IoT-based systems in various industries such as automotive, IT & telecom, aerospace and defense, and others. Moreover, increasing demand for better productivity and efficiency of the overall process is also driving the market in the region. The region by country has been segmented into the UK, Germany, France, Spain, Italy, and the rest of Europe.
The Asia-Pacific region accounted for a significant share in the neuromorphic computing market due to the increasing adoption of AI, data analytics, IoT, and other technologies and solutions; reduce human efforts; and increase the efficiency of the process. The increasing demand for these technologies has increased the requirement of fast processors and networks with high computing power resulting in the growing demand for neuromorphic computing. Based on the country, the region has been segmented as China, Japan, India, Australia, and the rest of Asia-Pacific.
The rest of the world accounted for the fourth position in 2018 in the global neuromorphic computing market. The market growth in this region is expected to remain stagnant due to the presence of emerging economies and limited infrastructure support. However, the market is expected to experience a growing trend in the future due to the increasing investments to boost the AL and IoT solutions. The region has been segmented into the Middle East and Africa and South America.
Neuromorphic Computing Market Segmentation
Get Complete Report Details at: https://www.marketresearchfuture.com/reports/neuromorphic-computing-market-5110
Neuromorphic Computing Market Key Players
Key Points Covered in the Report:
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Like it? Share it!
About the AuthorAnimesh Rao
Joined: June 1st, 2021
Articles Posted: 154
More by this author