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

By offering

• Software 
• Hardware

By Application

• Object detection
• Data mining 
• Signal recognition
• Image recognition 
• Others

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By End-User

• Industrial
• IT and Telecommunication
• Aerospace and Defense 
• Consumer Electronics 
• Automotive 
• Others

By Region

• North America 
• Asia Pacific (APAC)
• Europe
• Rest of the World (RoW)

Neuromorphic Computing Market Key Players

• 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)

Key Points Covered in the Report:

• The Neuromorphic Computing research assesses the industry’s share in terms of demand and supply, as well as volume.
• The study mentions the market share acquired by each product category in terms of consumption value and volume.
• The report meticulously discusses financial records of cumulative sales and overall income gathered by each product category.
• The study includes information on the major organizations’ sales, product pricing methods, revenue shares, and gross margins.
• The operational base of the listed enterprises throughout many locations, as well as their distribution methods, is considered.
• There is also information on the market concentration ratio, partnerships, alliances, acquisitions, new rivals, and other significant changes. 

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