The global demand for Neuromorphic Chip Market is presumed to reach the market size of nearly USD 1106.91 MN by 2030 from USD 36.43 MN in 2022 with a CAGR of 46.13% under the study period 2023 - 2030.
Neuromorphic chip is small enough in size to be comfortably placed inside electronic devices and the human body. It opens up new possibilities for smart sensors and cognitive storage by recognizing patterns extracted from text, measurement, images, and signals while using orders of magnitude less energy and complexity than modern microprocessors. Neuromorphic chip is widely used in luxury automobiles in the automotive industry. These chips can be designed digitally, analogue, and in a mixed way.
Market Dynamics
The neuromorphic chip market is anticipated to grow substantially in the years to come. The rising need for the Internet of Things (IoT) and data analytics surge the need for neuromorphic chips. Moreover, the rise in the adoption of neuromorphic chips from the industrial sector and for big data analysis in pharmaceuticals are expected to boost the global market during the forecast period. Furthermore, the significant factors driving the growth of the neuromorphic chip market are an increase in software addiction in industries such as IT & telecom, aerospace & defence, and the modernization of industries. However, the slow rate of development and high complexity of designing hardware may hinder the market's growth.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of neuromorphic chip. The growth and trends of neuromorphic chip industry provide a holistic approach to this study.
Market Segmentation
This section of the neuromorphic chip market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Component
By Function
- Signal Processing
- Data Processing
- Image Recognition
- Process Optimization
By End-Use Industry
- Aerospace & Defense
- Automotive
- Healthcare
- Industrial
- Consumer Electronics
- Others (Financial Institutes, IT & Telecom, Etc.)
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Neuromorphic Chip market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Neuromorphic Chip Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the neuromorphic chip market include Intel Corporation, International Business Machine Corporation, Qualcomm Technologies Inc., General Vision Inc., BrainChip Holdings Ltd., HRL Laboratories LLC, Hewlett Packard Corp., Samsung Electronics Co. Ltd., Applied Brain Research Inc., nepes corp, Gyrfalcon Technology Inc. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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