Post Covid-19 Update: Neuromorphic Computing Market To Reach USD 370 Million By 2027 | CAGR 53.6% — Forencis Research
Global Neuromorphic Computing Market: Key Highlights
- According to the new market research report “Neuromorphic Computing Market by Component (Hardware, Software), by Application (Object Classification, Trading Pattern Detection, Price Prediction, Surveillance, Vision Guided Robotics, Others), by End-User (Aerospace, Automotive, Healthcare, Others), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America,) — Global Forecast (2019 to 2027)”, the global neuromorphic computing market is estimated to reach USD 370 Billion by 2027 at a CAGR of around 53.6% during the review period.
- Increasing demand for Artificial Intelligence (AI), maturing computing industry driving the demand for neuromorphic computing market.
- However, complexity of the technology remains a significant challenging factor for the growth of the neuromorphic computing market.
Global Neuromorphic Computing Market: Key Market Dynamics
- Growing demand for AI is expected to drive the market of neuromorphic computing, as the AI has various applications and is being adopted rapidly, neuromorphic computing may enhance the operational efficiency of AI based systems.
- Incorporating neuromorphic technology in the self-driven vehicles is expected to rise the market in near future as the self-driven vehicles can make unstructured decisions using neuromorphic chips.
- Complexity of the neuromorphic technology is expected to challenge the growth of the market as the technology have very complex structure similar to human brain and to imitate the algorithm on a chip is very tricky.
Global Neuromorphic Computing Market: Regional Overview
Neuromorphic computing market in the Asia-pacific region is expected to show fastest growth in near future. The organizations engaged in the technological domain are working in the field of AI robustly. According to World Intellectual Property Organization (WIPO), companies based out of Japan and China dominates in the AI-related patent filing. Moreover, improving living standard of the individuals in this region may expand the demand for AI-related devices.
Owing to increasing investment in the research and development for AI related technologies, the neuromorphic computing is expected to grow. According to European Union, from 2016–2019, the funding for AI related research has reached USD 1.67 billion, also it states that Europe is leading in the neuromorphic solutions. Thus, such growing funding from the governing authorities in the field of AI and leading in the field of neuromorphic technology can increase the demand of neuromorphic computing in the region.
Global Neuromorphic Computing Market: Key Players Overview
- Intel Corporation:
Intel Corporation is a US-based technology company engaged in the development and production of products and solutions based on recent technologies. The product portfolio of the company is categorized as systems and devices, business, gaming, personal use, education, and data centers. The Intel Labs is constantly researching in the field of Neuromorphic, they have a research chip named Loihi which has 130,000 neuron type neural network. In February 2020, the company acquired Habana Labs to strengthen in the field of neuromorphic technology.
- BrainChip Holdings Ltd:
BrainChip Holdings Ltd is an Australia-based organization engaged in the neuromorphic computing solutions. The product portfolio of the frim covers Akida Development Environment, Akida Neuromorphic System-On-Chip, BrainChip Studio, BrainChip Accelerator, Akida Neuromorphic IP. In February 2020, the company announced that designers can access the Akida Development Environment platform without pre-approval to create edge and enterprise products related to neuromorphic processing technology.
About Forencis Research
Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of market research reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets.
Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. We strive to help our clients to foray into uncharted space to attain increased revenue growth for the present as well as the future.
Phone: +1 (720) 306 9020