Neuromorphic Chip Market Research Report— Forecast till 2026

Neuromorphic Chip Market Research Report: By Application (Image Recognition, Signal Recognition, Data Mining), Vertical (Aerospace & Defense, IT & Telecom, Automotive, Medical, Industrial, Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2026

ID: MRFR/SEM/9036-HCR | March 2021 | Region: Global | 100 pages

Neuromorphic Chip Market Synopsis

The neuromorphic Chip Market is estimated to reach USD 1,560.3 Millionby 2026, registering a CAGR of 11.7% during the forecast period of 2020–2026.

A neuromorphic chip is a processor chip designed like the human brain rather than the traditional, sequential von Neumann architecture. Such chips are expected to greatly accelerate artificial intelligence (AI) applications in the future. Neuromorphic computing is a method of computer engineering in which elements of a computer are modeled after systems in the human brain and nervous system. The term refers to the design of both hardware and software computing elements. Neuromorphic engineers draw from several disciplines, including computer science, biology, mathematics, electronic engineering and physics, to create artificial neural systems inspired by biological structures.It is typically focused on providing either fast computation or low power, often achieving one at the expense of the other. Neuromorphic systems on the other hand, achieve both fast computation and low power consumption.

Neuromorphic Chip Market Segmentation

The neuromorphic chip market has been segmented based onapplication, vertical, and region.

By application, the Neuromorphic Chip Market has been segmented into image recognition, signal recognition, data mining.

By vertical, the Neuromorphic Chip Market has been segmented into aerospace & defense, IT &telecom, automotive, medical, industrial, others.

By region, the Neuromorphic Chip Market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.

Neuromorphic Chip Market Regional Analysis

The neuromorphic chip market is estimated to grow at a significant rate during the forecast period from 2020 to 2026. The geographic analysis of Neuromorphic Chip Market has been conducted for North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Spain, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, and the rest of Asia-Pacific), and the rest of the world (the Middle East and Africa and South America). Among these regions, North America has dominated the global market in 2019 and is expected to maintain its dominance throughout the forecast period. On the other hand, the Asia-Pacific region is expected to witness the fastest growth of Neuromorphic Chip Market during the forecast period. Adoption of neuromorphic computing for security purposesis expected to fuel the Neuromorphic Chip Market growth in this region.

Neuromorphic Chip Market Key Players

MRFR recognizes the key players in the neuromorphic Chip Market. These include Hewlett Packard Enterprise, Samsung Electronics Limited, Intel Corp., HRL Laboratories, LLC, General Vision Inc., Applied Brain Research, Inc., Brainchip Holdings Ltd., aiCTX AG, Qualcomm, IBM, Nepes Corp., Innatera, MemComputing, INSTAR Robotics, Ceryx Medical, and Koniku. These players focus on innovation and thus, invest in research and development to present a cost-effective product portfolio. There have been recent mergers and acquisitions among the key players, a strategy the business entities leverage to strengthen their reach to the customers.

Industry News

  • In February 2021, Brain Chip Inc. and NaNose Medical successfully detect COVID-19 in exhaled breath using Brain Chip’s Akida AI chip ideal in their hand-held diagnostic testing device. NaNose Medical collected samples from 130 patients and sent nanomaterial sensor data to Brain Chip’s Research Institute in Perth, Western Australia, which configured and trained its Akidaneuromorphic processor to interpret the data using AI/ML. The system detected the instances of COVID-19 between a disease group and a healthy control group and Akida learned to recognize patterns of VOC biomarkers associated with an infection within seconds with a high level of accuracy in a minimal time frame.

  • In October 2020, Intel inks agreement with Sandia National Laboratories to explore neuromorphic computing, as a part of the US Department of Energy’s Advanced Scientific Computing Research program. andia will kick off its work using the 50-million-neuron Loihi-based system recently delivered to its facility in Albuquerque, New Mexico. As the collaboration progresses, Intel says the labs will receive systems built on the company’s next-generation neuromorphic architecture.

  • In September 2020, Brain Chip Holdings Ltd has collaborated with VORAGO Technologies through their Akida Early Access Program Agreement. The collaboration is intended to support a Phase I NASA program for a neuromorphic processor that meets spaceflight requirements. The Brain Chip Early Access Program is available to a select group of customers that require early access to the Akida device, evaluation boards and dedicated support. The EAP agreement includes payments that are intended to offset the Company’s expenses to support partner needs.

  • In July 2020, the National University of Singapore has developed an electronic skin system that could give robots and prosthetic devices a sense of touch. Dubbed Asynchronous Coded Electronic Skin (Aces), the “e-skin” system comprises an artificial nervous system that analyses data transmitted from a network of independent sensors using the Intel Loihi neuromorphic chip.

  • In May 2020, The United States Air Force Research Lab (AFRL) in Rome, N.Y. is working to develop neuromorphic computing for possible fielding on a drone in the next five years. AFRL is looking to use artificial intelligence (AI) and machine learning (ML) to boost processing power and give military operators analytical results, not raw data, in order to speed wartime decision making.

Intended Audience

  • Investors and Consultants

  • Government Organizations

  • Research/Consultancy Firms

  • Manufacturers

  • Industries

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Frequently Asked Questions (FAQ) :

The neuromorphic chip market value can touch USD 1560.3 million by 2026.

The neuromorphic chip market is expected to display 11.7% CAGR from 2020 to 2026.

North America can lead in the neuromorphic chip market.

IBM, Koniku, Intel Corp., Nepes Corp., Ceryx Medical, Qualcomm, Samsung Electronics Limited, Applied Brain Research, Inc., Brainchip Holdings Ltd., General Vision Inc., aiCTX AG, Innatera, HRL Laboratories, LLC, Hewlett Packard Enterprise, MemComputing, and INSTAR Robotics are key players of the global neuromorphic chip market.