Neuromorphic Computing Market By Share, Growth & Size Report 2028F

Summary

Report Description

Forecast Period	2024-2028
Market Size (2022)	USD 4.3 Billion
Largest Market	North America
CAGR (2023-2028)	21.98%
Fastest Growing Segment	Healthcare

Global Neuromorphic Computing market is foreseen to expand at an instant stride throughout the forecast period. Rise in demand for artificial intelligence and machine learning will develop the effectiveness and performance of the instruments as the combination of these two is expected to revolutionize the business field by providing necessitating discernment to make smart conclusions. These devices are in elevated demand as they have several advantages over customary devices such as image recognition, fraud detection, speech recognition, among others. Artificial intelligence technology discovers application in various multifarious industries incorporating defense, medical, telecom, utility, entertainment, telecom, food & beverages, among others.

Neural computing is the advancement of computers based on systems found in the human brain and nervous system. Harnessing the vast potential and power of the human brain, neuroimaging computing can function as effectively as the human brain without major gaps in software deployment. One technological advance that has ignited technical importance in neural computing is the development of artificial neural network(ANN) models.

The automobile firms have been unfavorably impacted by the pandemic. The undertaking of neural computing gadgets opens with the establishment of a synthetic neural network, counting on lots of tens of tens of millions of neurons. These neurons are like neurons inside the human brain. Neural computers are amazing ordinary for their fast reaction machine because their processing may be very fast. Compared to conventional computers, neural computers are designed to artwork like the human mind and so their fast reaction gadget is a massive lead for industry. Neuromorphic generation can be applied in defense systems in combination with artificial intelligence and device studying to increase computing strength and deliver analytical outcomes to speed up selection-making in wartime. Further, neuromorphic generation is notably greater power green and might boom the mobility, staying energy, and portability of generation that infantrymen can set up inside the area. For example, Intel deliberated to apply neuromorphic technology to drone cameras with the resource of installing a Loihi chip that might obtain organic signs from the camera and process them like biological thoughts, extensively speeding up the drone's perception.

The image processing segment of the market is anticipated to dominate in 2023, with a revenue share of more than 50%. This can be recognized to the rising adoption of computer vision in a variety of industries, including automotive, healthcare, and media and entertainment. For example, medical imaging is one of the most crucial applications of image processing. Advancements in image sensors and other processing technologies are expected to drive revenue growth in the image processing segment during the forecast period. The signal-processing application segment depicted for high percentage of the overall market share in 2022 and is expected to increase remarkably over the forecast period. The rising demand for managing audio & acoustics signals is significantly contributing to the growth of the signal-processing segment. With the rapidly increasing implementation of Artificial Intelligence and Machine Learning in the IT enterprise, the data processing segment is projected to extend during the forecast period. Automated machine learning is one of the most distinguished AI trends among businesses.

Instead of standard bit-precise calculations, neuromorphic hardware consequences in probabilistic models that are simple, powerful, reliable, and data-efficient in terms of computation since the brain is highly stochastic in nature. Neuromorphic hardware is certainly better suitable for cognitive applications than preciseness computing.

Rising Acceptance of Artificial Intelligence (AI) and Automation Systems

The brain is essentially the supervisor of neuromorphic computing. It utilizes artificial neurons and links to process information, which allows it to be more energy-efficient and scalable than traditional computing.

AI and automation systems are progressively being improved in a form of industries, including healthcare, manufacturing, and transportation. These systems involve powerful computing systems that can process large amounts of data in real-time. Neuromorphic computing is well-suited for these applications, as it can provide the power and efficiency that these systems need. The technology is widely accepted in various industries mainly in FMCG, retail, and manufacturing. The rising acceptance of artificial intelligence and automation systems is projected to drive the Neuromorphic computing market. The increasing acceptance of AI and automation system in various industries such as industrial, medical, IT & telecommunication, aerospace, military & defense, automotive, consumer electronics, and other sectors, will boost the demand for the neuromorphic computing market during the forecast period, 2024 – 2028. Neuromorphic computing provides benefits such as fast parallel processing with minimum power requirement. It also removes the need for back-and-forth data movement between components in the von Neumann architecture, which is expected to drive its adoption for image and signal processing applications. Besides, it’s expected adoption in consumer electronics, automotive, healthcare, and military & defense sectors will also be highly responsible for driving the market growth. The growing demand for artificial intelligence and systems gaining knowledge of technologies has improved the use of software programs in neuromorphic computing. Artificial intelligence and automation technologies will improve the worldwide economic system and increase international prosperity at a time when ageing and declining fertility are serving as increase efforts. AI and Automation technologies are elevated to lift the global economy and strengthen global prosperity, at a time when aging and deteriorating birth rates are acting as an effort on growth. Contemporary progress in neuromorphic research is accredited in part to the extensive and increasing use of AI, machine learning, neural networks, and deep neural network architectures in consumer and enterprise technology. Neuromorphic technology is commonly benefited in deep accelerators, next-generation semiconductors, transistors, and autonomous systems, such as robotics, drones, self-driving cars, and artificial intelligence. There are diverse technology that are taken into consideration for the implementation of neuromorphic chips for brain-primarily based robotics and sensible robotic systems and the attractiveness of neuromorphic computing for safety determinations together with studies development, will offer market members several prospects over the forecast period.

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Growing Adoption of Autonomous Vehicles

Neuromorphic computing can support autonomous vehicles better detect and avoid obstacles, as well as recognize objects and respond to changing conditions. Neuromorphic computing helps autonomous vehicles in processing visual information more proficiently. Conventional computing architectures demand a lot of time and power to process visual data, but neuromorphic computing takes minimal power consumption in processing visual data in real-time. Neuromorphic computing is more proficient in recognizing objects on the roads and recognizing them from their environment. This occurs because of neuromorphic computing fully functioning as the human brain, which has expertise at recognizing objects and patterns.

In autonomous vehicles, Neuromorphic helps in detecting and avoiding obstacles by processing data from multiple sensors simultaneously. For example, neuromorphic computing can combine data from cameras, lidar, radar, and other sensors to produce a more precise and thorough picture of the vehicle's surroundings.

At last, the growing acceptance of autonomous vehicles is expected to drive the global neuromorphic computing market. Neuromorphic technology is basically used in autonomous systems, such as drones and AI. The increasing adoption of automation systems and AI in various industries such as automotive will increase the demand for the neuromorphic computing market. The acceptance of neuromorphic computing for security purposes and research development will provide numerous opportunities for the global neuromorphic computing market and is predicted to rise substantially in the coming years.

Recent Developments

In March 2023, Brain Chip Holdings Ltd, which is a commercial provider of event based neuromorphic AI IP, Ultra Low Power has entered in a partnership with CVEDIA, a leading provider of AI-based video analytics solutions to spread the state-of-the-art in Edge AI and neuromorphic computing.

Market Segmentation

On the basis of Offering, the market is segmented into Hardware, Software. On the basis of Deployment, the market is segmented into Edge Computing and Deploy Computing. On the basis of Technology, the market is segmented into MMES and Non-MEMS. On the basis of End-User, the market is segmented into Automotive, Healthcare, Consumer Electronics, Military & Defense, and Industrial. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

Company Profiles

IBM Corporation, Intel Corporation, Samsung Electronics Co. Ltd, Brain Corporation, General Vision Inc, HRL Laboratories LLC, Vicarious (Alphabet Inc.), CEA-Leti, Knowm Inc, BrainChip Holdings Ltd, are among the major players that are driving the growth of the global Neuromorphic computing market.

Attribute	Details
Base Year	2022
Historical Years	2018 – 2021
Estimated Year	2023
Forecast Period	2024 – 2028
Quantitative Units	Revenue in USD Billion and CAGR for 2018-2022 and 2023E-2028F
Report Coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends
Segments Covered	By Offering By Deployment By Technology By End-User By Region
Regional Scope	Asia-Pacific, North America, Europe, Middle East & Africa, and South America
Country Scope	China, Japan, India, Australia, South Korea, United States, Canada, Mexico, United Kingdom, Germany, France, Spain, Italy, Israel, Turkey, Saudi Arabia, UAE, Brazil, Argentina, Colombia
Key Companies Profiled	IBM Corporation, Intel Corporation, Samsung Electronics Co. Ltd, Brain Corporation, General Vision Inc, HRL Laboratories LLC, Vicarious (Alphabet Inc.), CEA-Leti, Knowm Inc, BrainChip Holdings Ltd
Customization Scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and Purchase Options	Avail of customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

Report Scope:

In this report, the global Neuromorphic computing market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Neuromorphic computing Market, By Offering:

Hardware
Software

Neuromorphic computing Market, By Deployment:

Edge Computing
Deploy Computing

Neuromorphic computing Market, By Technology:

MMES
Non-MEMS

Neuromorphic computing Market, By End-User:

Automotive
Healthcare
Consumer Electronics
Military & Defense
Industrial

Neuromorphic computing Market, By Region:

Asia-Pacific

China
Japan
India
Australia
South Korea

North America

United States
Canada
Mexico

Europe

United Kingdom
Germany
France
Spain
Italy

Middle East & Africa

Israel
Turkey
Saudi Arabia
UAE

South America

Brazil
Argentina
Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global Neuromorphic computing market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Neuromorphic Computing Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Service Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

4. Voice of Customer

5. Global Neuromorphic computing Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Offering (Hardware, Software)

5.2.2. By Deployment (Edge Computing, Deploy Computing)

5.2.3. By Technology (MMES, Non-MEMS)

5.2.4. By End-User (Automotive, Healthcare, Consumer Electronics, and Industrial)

5.2.5. By Region

5.3. By Company (2022)

5.4. Market Map

6. North America Neuromorphic Computing Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Offering

6.2.2. By Deployment

6.2.3. By Technology

6.2.4. By End-User

6.2.5. By Country

6.3. North America: Country Analysis

6.3.1. United States Neuromorphic Computing Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Offering

6.3.1.2.2. By Deployment

6.3.1.2.3. By Technology

6.3.1.2.4. By End-User

6.3.2. Canada Neuromorphic computing Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Offering

6.3.2.2.2. By Deployment

6.3.2.2.3. By Technology

6.3.2.2.4. By End-User

6.3.3. Mexico Neuromorphic computing Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Offering

6.3.3.2.2. By Deployment

6.3.3.2.3. By Technology

6.3.3.2.4. By End-User

7. Asia-Pacific Neuromorphic computing Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Offering

7.2.2. By Deployment

7.2.3. By Technology

7.2.4. By End-User

7.2.5. By Country

7.3. Asia-Pacific: Country Analysis

7.3.1. China Neuromorphic computing Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Offering

7.3.1.2.2. By Deployment

7.3.1.2.3. By Technology

7.3.1.2.4. By End-User

7.3.2. Japan Neuromorphic computing Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Offering

7.3.2.2.2. By Deployment

7.3.2.2.3. By Technology

7.3.2.2.4. By End-User

7.3.3. South Korea Neuromorphic Computing Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Offering

7.3.3.2.2. By Deployment

7.3.3.2.3. By Technology

7.3.3.2.4. By End-User

7.3.4. India Neuromorphic computing Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Offering

7.3.4.2.2. By Deployment

7.3.4.2.3. By Technology

7.3.4.2.4. By End-User

7.3.5. Australia Neuromorphic computing Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Offering

7.3.5.2.2. By Deployment

7.3.5.2.3. By Technology

7.3.5.2.4. By End-User

8. Europe Neuromorphic computing Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Offering

8.2.2. By Deployment

8.2.3. By Technology

8.2.4. By End-User

8.2.5. By Country

8.3. Europe: Country Analysis

8.3.1. Germany Neuromorphic computing Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Offering

8.3.1.2.2. By Deployment

8.3.1.2.3. By Technology

8.3.1.2.4. By End-User

8.3.2. United Kingdom Neuromorphic Computing Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Offering

8.3.2.2.2. By Deployment

8.3.2.2.3. By Technology

8.3.2.2.4. By End-User

8.3.3. France Neuromorphic computing Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Offering

8.3.3.2.2. By Deployment

8.3.3.2.3. By Technology

8.3.3.2.4. By End-User

8.3.4. Italy Neuromorphic computing Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Offering

8.3.4.2.2. By Deployment

8.3.4.2.3. By Technology

8.3.4.2.4. By End-User

8.3.5. Spain Neuromorphic computing Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Offering

8.3.5.2.2. By Deployment

8.3.5.2.3. By Technology

8.3.5.2.4. By End-User

9. South America Neuromorphic Computing Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Offering

9.2.2. By Deployment

9.2.3. By Technology

9.2.4. By End-User

9.2.5. By Country

9.3. South America: Country Analysis

9.3.1. Brazil Neuromorphic computing Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Offering

9.3.1.2.2. By Deployment

9.3.1.2.3. By Technology

9.3.1.2.4. By End-User

9.3.2. Argentina Neuromorphic computing Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Offering

9.3.2.2.2. By Deployment

9.3.2.2.3. By Technology

9.3.2.2.4. By End-User

9.3.3. Colombia Neuromorphic computing Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Offering

9.3.3.2.2. By Deployment

9.3.3.2.3. By Technology

9.3.3.2.4. By End-User

10. Middle East & Africa Neuromorphic computing Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Offering

10.2.2. By Deployment

10.2.3. By Technology

10.2.4. By End-User

10.2.5. By Country

10.3. Middle East & Africa: Country Analysis

10.3.1. Israel Neuromorphic computing Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Offering

10.3.1.2.2. By Deployment

10.3.1.2.3. By Technology

10.3.1.2.4. By End-User

10.3.2. Turkey Neuromorphic computing Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Offering

10.3.2.2.2. By Deployment

10.3.2.2.3. By Technology

10.3.2.2.4. By End-User

10.3.3. UAE Neuromorphic computing Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Offering

10.3.3.2.2. By Deployment

10.3.3.2.3. By Technology

10.3.3.2.4. By End-User

10.3.4. Saudi Arabia Neuromorphic Computing Market Outlook

10.3.4.1. Market Size & Forecast

10.3.4.1.1. By Value

10.3.4.2. Market Share & Forecast

10.3.4.2.1. By Offering

10.3.4.2.2. By Deployment

10.3.4.2.3. By Technology

10.3.4.2.4. By End-User

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

13. Company Profiles

13.1. IBM Corporation

13.1.1. Business Overview

13.1.2. Key Revenue (If Available)

13.1.3. Recent Developments

13.1.4. Key Personnel

13.1.5. Key Product/Service Offered

13.2. Intel Corporation

13.2.1. Business Overview

13.2.2. Key Revenue (If Available)

13.2.3. Recent Developments

13.2.4. Key Personnel

13.2.5. Key Product/Service Offered

13.3. Samsung Electronics Co. Ltd

13.3.1. Business Overview

13.3.2. Key Revenue (If Available)

13.3.3. Recent Developments

13.3.4. Key Personnel

13.3.5. Key Product/Service Offered

13.4. Brain Corporation

13.4.1. Business Overview

13.4.2. Key Revenue (If Available)

13.4.3. Recent Developments

13.4.4. Key Personnel

13.4.5. Key Product/Service Offered

13.5. General Vision Inc

13.5.1. Business Overview

13.5.2. Key Revenue (If Available)

13.5.3. Recent Developments

13.5.4. Key Personnel

13.5.5. Key Product/Service Offered

13.6. HRL Laboratories LLC

13.6.1. Business Overview

13.6.2. Key Revenue (If Available)

13.6.3. Recent Developments

13.6.4. Key Personnel

13.6.5. Key Product/Service Offered

13.7. Vicarious (Alphabet Inc.)

13.7.1. Business Overview

13.7.2. Key Revenue (If Available)

13.7.3. Recent Developments

13.7.4. Key Personnel

13.7.5. Key Product/Service Offered

13.8. CEA-Leti

13.8.1. Business Overview

13.8.2. Key Revenue (If Available)

13.8.3. Recent Developments

13.8.4. Key Personnel

13.8.5. Key Product/Service Offered

13.9. Knowm Inc

13.9.1. Business Overview

13.9.2. Key Revenue (If Available)

13.9.3. Recent Developments

13.9.4. Key Personnel

13.9.5. Key Product/Service Offered

13.10. BrainChip Holdings Ltd

13.10.1. Business Overview

13.10.2. Key Revenue (If Available)

13.10.3. Recent Developments

13.10.4. Key Personnel

13.10.5. Key Product/Service Offered

14. Strategic Recommendations

15. About Us & Disclaimer

(Note: The companies list can be customized based on the client requirements.)

Figures and Tables

Frequently asked questions

Who are the key players in the Global Neuromorphic computing Market?

Key players in the market are IBM Corporation, Intel Corporation, Samsung Electronics Co. Ltd, Brain Corporation, General Vision Inc, HRL Laboratories LLC, Vicarious (Alphabet Inc.), CEA-Leti, Knowm Inc, and BrainChip Holdings Ltd, among others.

What do you mean by Neuromorphic computing?

Neuromorphic computing is the ability to combine inputs from multiple radar, lidar, and camera devices to create a single model or image of the vehicle's surroundings. The resulting model is more accurate because it balances the strengths of the various sensors.

What are the main benefits of Global Neuromorphic Computing Market?

The Neuromorphic computing advantages include improved accuracy and reliability, enhanced safety, increased efficiency and improved user experience, and stability.

What are the factors driving the Global Neuromorphic computing Market?

Growing demand for electronic consumer goods, increasing use of image sensors in smart devices, growing popularity of high-end and luxury cars, and increasing government initiatives are expected to be the main drivers for the growth of the Global Neuromorphic Computing market during the forecast period.

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Press Release

Neuromorphic Computing Market to be Dominated by the Automotive Industry Through 2028

Aug, 2023

Neuromorphic Computing market is expected to grow rapidly due to the increasing use of autonomous vehicles and the growing demand for automation systems and AI.

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