Pune, India, Nov 2022, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Neuromorphic Computing Market.
By 2030, the market for neuromorphic computing is expected to reach USD 8,351 million, growing at a staggering 21% CAGR. The market's rapid expansion can be attributed to the rising demand for applications using neuromorphic AI-based computers. Over the projected period, demand for artificial intelligence and machine learning is anticipated to support market expansion. Robotics, non-linear controls, chatbots, translation, image processing, computer vision, and language processing are all fields in which artificial intelligence is used. By 2025, traditional computing technologies will have reached the digital wall, necessitating a change to the newest paradigms, such as neuromorphic computing systems. Throughout the projection period, this is projected to have a favorable effect on market growth. Growing adoption in various end-use industries such as automotive and industrial automation, healthcare, aerospace and defense, consumer electronics for efficient computing solutions, growing sensors market, need for better performing ICs, growing demand for neuromorphic quantum computer & neuromorphic computing chip, increasing applications in voice identification and machine vision are additional factors contributing to the neuromorphic computing market size.
The regional opportunities and current trends for Europe, North America, Asia-Pacific (APAC), and the Rest of the World are included in the worldwide neuromorphic computing market research. Over the forecast, North America will dominate the market for these. By 2025, it is anticipated to develop at a CAGR of 50.06%. During the forecast period, Europe is expected to maintain the second-largest global neuromorphic computing market share. The region's global neuromorphic computing market is expanding as more industries, including aerospace and military, IT, telecom, automotive, and others, are adopting IoT-based systems, machine learning, and AI and as demand for improved process productivity and efficiency rises. The APAC region is anticipated to experience the highest growth in the worldwide neuromorphic computing market during the forecast period. The region's growing demand for fast networks, powerful processors, and other solutions and technologies that reduce human effort is fueling the expansion of the global market for neuromorphic computing.
Access full report @ https://www.marketresearchfuture.com/reports/neuromorphic-computing-market-5110
Based on Offering, End User, and Application, the neuromorphic computing market has been segmented. The neuromorphic computing market is divided into software and hardware based on offerings. While the neuromorphic computing hardware segment is anticipated to develop at the most significant CAGR by 2025, the software segment is expected to dominate the market over the projected period.
Neuromorphic computing applications worldwide include image recognition, object identification, data mining, signal recognition, etc. Over the forecast, the image recognition segment will dominate the market. The industrial, IT and telecommunications, aerospace and defense, consumer electronics, automotive, and other end-user segments comprise the worldwide neuromorphic computing market. Consumer electronics will lead the market among them during the prediction period.
In the coming years, market participants may benefit greatly from increased software adoption in applications like data modeling, predictive analysis, real-time data streaming, and ongoing online learning. The companies that are keeping up with the trend to dominate Neuromorphic Computing Market are: