Market Synopsis
Neuromorphic computing
implements aspects of biological neural networks as analogue or digital copies
on electronic circuits. The goal of neuromorphic computing is two-fold –
One is offering a tool for neuroscience to understand the dynamic processes of
learning and other is development in the brain and applying brain inspiration
to generic cognitive computing. Key advantages of neuromorphic computing
compared to traditional approaches are energy efficiency, execution speed,
robustness against local failures and the ability to learn.
Neuromorphic computing
is expected to gain huge momentum in the coming years due to the gaining
familiarity of neuromorphic computing technology and rising demand for
artificial intelligence. Artificial intelligence is used as applications in
language processing, computer vision & image processing, translation &
chatterbots, and non-linear controls & robotics.
Some applications will
include neuromorphic sensors in smartphones, smart cars and robots or olfactory
detection. The technology could integrate brain-like capabilities in devices
and machines that are currently limited in speed and power. In effect, this
could be the final step towards developing cognitive computing and systems that
are able to learn, remember, reason or help humans make better decisions.
Lack of R&D
investments and knowledge about neuromorphic computing among consumers are the
major restraints of neuromorphic computing market.
Segmentation
The market for
neuromorphic computing market is segmented on the basis of application,
offering, end-user and region. On the basis of offering, the segment is further
classified into hardware and software. Neuromorphic computing has a wide range
of applications such as image recognition, signal recognition, data mining,
object detection and many more. By end-user, the market can be segregated into
five segments: automotive, consumer electronics, automotive, defense, and
healthcare. The consumer electronics is expected to hold the largest share in
terms of end-use application of neuromorphic computing. The usage of
neuromorphic computing in self-driven and smart vehicles is expected to bring a
transition in transportation and furthermore propel the growth of automotive
sector. The usage of neuromorphic chips in satellites for surveillance and
aerial imagery is highly in demand in the defense sector.
Software is expected to
hold the largest share of neuromorphic computing market, based on offering.
Software has applications in video monitoring, machine vision, and voice
identification. Increasing adoption of software in industries such as aerospace
& defense, IT & telecom, and medical is driving the growth of the
neuromorphic computing software market.
Adoption of speech
recognition in industries such as medical and automotive & transportation
is another major factor driving the market growth. For instance, speech
recognition is used in the field of healthcare for radiologist scanning of
hundreds of X-rays, ultra-sonograms, CT scans, and simultaneously dictating conclusions
to a speech recognition system connected to the word processors.
Other industries are
also increasingly representing growth opportunities for neuromorphic chips and
are expected to help the market expand at a promising pace over the report’s
forecast period. The vendor landscape has started becoming crowded and
companies, with the aim of strengthening their hold on the market and making
the most out of available opportunities, have started focusing on strategic
collaborations.
The Global Neuromorphic Computing Market is
expected to grow at 49% CAGR through the forecast period.
Regional Analysis
The region dominating
the global neuromorphic computing market is North America. The countries such
as the U.S., and Canada are holding a major share in the global neuromorphic
computing market. The major market in the North American region contributing to
the global market growth is the image recognition industry. The growing demand
for automation in countries such as South Korea, China, Brazil, and India is
triggering the global market growth in the Asia-Pacific region. The European
market is also gaining momentum owing to the rise of opportunities for the
neuromorphic projects.
Some of the key players
in the market are IBM Corp. (U.S.), Hewlett Packard Enterprise (U.S.), Samsung
Group (South Korea), Intel Corp. (U.S.), HRL Laboratories, LLC (U.S.), General
Vision Inc. (U.S.), Applied Brain Research Inc. (U.S.), and BrainChip Holdings
Ltd. (U.S.) among others
Brows Full Report Details @ https://www.marketresearchfuture.com/reports/neuromorphic-computing-market-5110
Intended Audience
- Government
- Semiconductor
manufacturers
- Industries such as
aerospace, automotive
- Research
laboratories
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