ID: MRFR/SEM/9036-HCR | March 2021 | Region: Global | 100 pages
The global 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.
The global neuromorphic chip market has been segmented based onapplication, vertical, and region.
By application, the market has been segmented into image recognition, signal recognition, data mining.
By vertical, the market has been segmented into aerospace & defense, IT &telecom, automotive, medical, industrial, others.
By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Global Neuromorphic Chip Market, 2018–2026 (USD Million)
Source: MRFR Analysis
The global 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 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 during the forecast period. Adoption of neuromorphic computing for security purposesis expected to fuel the market growth in this region.
MRFR recognizes the key players in the global 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.