Neuromorphic Computing Market size is Expected to Reach $8.58 Billion by 2030 | Registering a CAGR of 79.0%
WILMINGTON, DELAWARE , UNITED STATES, October 4, 2023 /EINPresswire.com/ — Allied Market Research published a report on the Neuromorphic Computing Market by Offering, Deployment, Application, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2030.
The global neuromorphic computing market size is expected to reach $8.58 billion by 2030 from $26.32 million in 2020, growing at a CAGR of 79.0% from 2021 to 2030.
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Neuromorphic computing aims at processing information in a way similar to the human brain. Instead of a conventional von Neumann computer, a neuromorphic system generally relies on a neural network, where memory and processing elements are intimately co-located within the same hardware.
Neuromorphic computing takes advantage of computational memories, which can both store and process data via physical laws within the device and the circuit. This summarizes the history and main concepts of neuromorphic computing, including both deep neural networks (DNNs) which are adopted for extensive artificial intelligence tasks, such as driverless cars, and spiking neural networks (SNNs), which aim at a more realistic brain-inspired computation.
Neuromorphic computing gets its inspiration from human brain’s architecture and dynamics to create energy-efficient hardware for information processing, making it capable of highly sophisticated tasks. Neuromorphic computing includes the production and use of neural networks. It takes its inspiration from the human brain with the goal of designing computer chips that are able to merge memory and processing.
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Competitive Analysis:
The competitive environment of the neuromorphic computing industry is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, neuromorphic computing market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Some of the major key players of the neuromorphic computing industry include:
⦁ Samsung Electronics Ltd.
⦁ Qualcomm Incorporated
⦁ Samsung Electronics Ltd.
⦁ General Vision Inc.
⦁ IBM Corporation
⦁ Vicarious
⦁ BrainChip Holdings Ltd.
⦁ Numenta
⦁ Intel Corporation
⦁ Applied Brain Research Inc.
Prominent factors that impact the neuromorphic computing market growth include rise in demand for artificial intelligence and machine learning technology, high usage of software in neuromorphic computing, and rise in demand for better performing integrated circuits (ICs). However, rise in complexity of algorithms and backend operations restricts the market growth.
On the contrary, increase in adoption of neuromorphic chips in the automotive industry is expected to create lucrative opportunities for the market. Therefore, these factors are expected to definitely affect the global neuromorphic computing industry during the forecast period.
Region-wise, the neuromorphic computing market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Taiwan, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
North America is dominating the market, due to rising awareness about the benefits of neuromorphic computing in industries such as aerospace, military & defense, and healthcare. The overall neuromorphic computing market analysis is determined to understand the profitable trends to gain a stronger foothold.
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Key Benefits for Stakeholders:
⦁ This study comprises analytical depiction of the global neuromorphic computing market outlook along with the current trends and future estimations to depict the imminent investment pockets.
⦁ The overall neuromorphic computing market analysis is determined to understand the profitable trends to gain a stronger foothold.
⦁ The report presents information related to key drivers, restraints, and neuromorphic computing market opportunities with a detailed impact analysis.
⦁ The current neuromorphic computing market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
⦁ Porter’s five forces analysis illustrates the potency of the buyers and the neuromorphic computing market share of key vendors.
⦁ The report includes the market trends and the revenue share of key vendors.
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Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
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