The global demand for Neuromorphic Computing Market is presumed to reach the valuation of nearly USD 31.56 MN by 2032 from USD 5.19 BN in 2023 with a CAGR of 22.2% during the period of 2024-2032.
The neuromorphic computing system is inspired by the functioning of the human nervous system. The system consists of the production and use of a large integrating system that includes several analogue circuits. These analogue circuits imitate neurobiological behaviour system or neural network present in the human nervous system. The neuromorphic computing system is developed by programming brain like thought process and neural microcircuits and applying it in the machine learning process and cognitive computing. The system understands the brain functioning and performs like a human brain. The neuromorphic computing device is capable of high-speed simulations. There are several advantages of the neuromorphic computing system such as low power consumption, high speed, optimum use of memory, and cognitive computing. The device can process the information securely at a high speed. The neuromorphic computing devices are beneficial in military and defence sector where secured transmission of data is the utmost priority. Along with military and defence, these systems are applicable in industry sectors such as military and defence, consumer electronics, automotive & robotics.
Market Dynamics
The major factors that are boosting the neuromorphic computing market include growing demand for artificial intelligence & machine learning, and increasing demand for automation, non-linear controls, robotics, image processing and language processing using artificial intelligence. Furthermore growing adoption for mobile and cloud-based computer technology is propelling the neuromorphic computing market.
The 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 inclusive assessment of each application/product segment in the global market of neuromorphic computing.
Market Segmentation
The entire neuromorphic computing market has been sub-categorized into application and end-use. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Application
- Signal Processing
- Image Processing
- Data Processing
- Object Detection
- Others
By End-Use
- Consumer Electronics
- Automotive
- Healthcare
- Military & Defense
- Others
By Deployment
By Component
- Hardware
- Software
- Services
Regional Analysis
This section covers regional segmentation which accentuates on current and future demand for neuromorphic computing market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Neuromorphic Computing 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 computing market include Brain Corporation, CEA-Leti, General Vision Inc., Hewlett Packard Company, HRL Laboratories LLC., International Business Machines Corporation, Intel Corporation, Knowm Inc., Qualcomm Technologies Inc., Samsung Electronics Co. Ltd., Vicarious FPC Inc. This section includes 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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