NEW YORK, Jan. 26, 2016 /PRNewswire/ -- Neuromorphic chips are the combination of transistors or memristors deployed over a silicon fabrication chip, which helps to reduce memory consumption as it executes the data sequentially which is faster and consumes less memory than parallel execution and also reduces the power consumption. Neuromorphic chips are designed in a manner in which the artificial neural network is made out of transistors and memristors, thereby replicating the human brain. The demand for neuromorphic chip arises with the growing demand for data analytics and Internet of Things.
The forecast of neuromorphic chip market is based on developments in the technology. For instance, Qualcomm Inc. (U.S.) is expected to commercialized its Snapdragon 820 that is equipped with neuromorphic capabilities that are developed by using its cognitive 'Zeroth' platform, furthermore, DARPA has invested USD 100 million in IBM Inc. (U.S.) and HRL Laboratories (U.S.) under SYNAPSE project to develop neuromorphic chips . The neuromorphic chip market is expected to grow at a CAGR of 26.31% between 2016 and 2022. The market is segmented on the basis of application segments into image recognition, speech recognition, and data mining. The image recognition segment is expected to be the largest contributor to the overall neuromorphic chip market, with a share of ~45.90% of the market in 2016. Geographically, Asia-Pacific is expected to have the largest market size, in terms of value, for the neuromorphic chip market.
North America is expected to grow at the highest CAGR of 33.85% between 2016 and 2022.
The major driver for the neuromorphic chip is the miniaturization of integrated circuits which resulted into high transistor cost. Other drivers include adoption of neuromorphic chip include the growing demand for data analytics and the growing sensor market. Growth of artificial intelligence and machine learning also contributes to the growth of neuromorphic chip market.
This report describes the value chain of the neuromorphic chip market, taking into consideration all the major stakeholders in the market and their role analysis. The report also provides a detailed study based on the Porters' Five Forces framework for the market. All the five major factors in this market have been quantified using the internal key parameters governing each of them. The report also includes the company profiles of the leading players in the neuromorphic chip industry along with their recent developments and other strategic business activities. The competitive landscape section of the report outlines the potential of the key companies in the neuromorphic chip market. Some of the key players in this market include Samsung Group (South Korea), IBM Corp. (U.S.), Intel Inc. (U.S.), Qualcomm Inc. (U.S.), Hewlett Packard Company (U.S.), and others.
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