Global Neuromorphic Computing Market Size Forecasted to Reach USD 29.54 Billion By 2032, at 21.1% CAGR: Polaris Market Research

NEW YORK, April 13, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "Neuromorphic Computing Market Share, Size, Trends, Industry Analysis Report, By End-use (Consumer Electronics, Automotive, Healthcare, Military & Defense, Others); By Component; By Application; By Deployment; By Region; Segment Forecast, 2023 - 2032" published by Polaris Market Research in its research repository.

"According to research report, the global neuromorphic computing market size/share was valued at USD 4.34 billion in 2022 and is expected to reach USD 29.54 Billion by 2032, growing at a CAGR of 21.1% during the forecast period."

What is Neuromorphic Computing? How Big is Neuromorphic Computing Market Size & Share?

• Report Coverage & Overview

Neuromorphic computing is a technique of computer engineering in which components of a computer are shaped after structures in the human brain and nervous systems. The rapidly rising demand for the neuromorphic computing market can be attributed to the fact that they will be utilized to operate AI algorithms at the periphery rather than the cloud due to their compact size and lesser power intake.

The growing usage of neuromorphic technology in deep learning implementation, accelerators, transistors, next-gen semiconductors, and sovereign systems such as drones, robotics, artificial intelligence, and self-driving cars pushes the market growth. For instance, in August 2022, an associative research team begin NeuRRAM, a contemporary neuromorphic chip to handle several AI implementations at an escalated precision and lesser energy than alternative objectives.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Our Sample Report May Includes:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Request.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
• Includes Updated List of table & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Some of the Top Market Players Are:

• International Business Machines Corporation (IBM)
• Intel Corporation
• BrainChip
• Qualcomm Technologies
• Samsung Electronics
• General Vision
• Applied Brain Research
• Hewlett Packard Enterprise
• HRL Laboratories LLC
• Brain Corporation
• Halo Neuroscience

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Key factors driving market growth

• Growing adoption of AI and ML in defense structures to push the market

Neuromorphic technology joined with AI and ML assimilating, can be utilized in defense structures to improvise operating power and provides analytical outcomes to accelerate hostile events governing. The neuromorphic computing market size is expanding as this technology is extremely organized as far as energy is concerned. It can also enhance fortitude, portability, and carrying technologies warriors can adopt in the war zone.

In neuromorphic computing, an intricate algorithm can be outlined expertly in a robot in the context of functioning and energy absorption. Neuromorphic computing market sales are soaring as crucial firms in the market fund uninterrupted research and development procedures and initiate inventive commodities to progress in novel research technology.

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Recent trends influencing the market

Usage of approaches such as nonlinear regulation to drive the market

• Demand for AI and ML is forecasted to reinforce market growth over the forecast period. AI is utilized in approaches such as nonlinear regulation, robotics, image processing, interpretation and chatterbots, language processing, and computer vision.
• Growing acceptance in several end-use firms such as automotive and industrial automation, health maintenance, defense and aerospace, and consumer electronics for successful computing explanation, escalating sensor markets, a requirement for superior executing ICs, and increasing demand for the neuromorphic quantum computer, and neuromorphic computing chip, growing usage in machine vision, identification, and video tracking.

Segmentation assessment

• The image processing segment dominated the market share

Based on application, the image processing segment dominated the market share. Neuromorphic computing market demand is on the rise. These structures can be utilized to inspect and withdraw knowledge from images in real time and are especially handy for functions such as matter identification and facial acknowledgment.

• The consumer electronics segment accounted for the largest market share

Based on end use, the consumer electronics segment accounted for the largest market share. Neuromorphic computing market trends include growing demand for a range of electronic gadgets such as PCs, laptops, and tablets. The requirement for compact, cheap commodities from consumers compels the diminishing of integrated circuits, which is connected to the augmentation of the consumer electronics industry for neuromorphic chips worldwide.

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Neuromorphic Computing Market: Report Scope

Geographic Overview

• The increasing establishment of data centers to propel the North American market

North America held the largest neuromorphic computing market share as it is notably impacted by both US and Canada. The establishment of data centers in many cities throughout the region and the escalation in several nations utilizing AI and ML technologies will help pitch into the market's growth.

Europe is anticipated to proliferate at a considerable CAGR worldwide over the forecast period. As the demand for AI advances and consumer partiality alters towards compact product sizes, there is a growing requirement to trivialize IoT devices.

Browse the Detail Report "Neuromorphic Computing Market Share, Size, Trends, Industry Analysis Report, By End-use (Consumer Electronics, Automotive, Healthcare, Military & Defense, Others); By Component; By Application; By Deployment; By Region; Segment Forecast, 2023 - 2032" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/neuromorphic-computing-market

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Recent developments

• In November 2022, researchers from the Autonomous University of Barcelona have generated a contemporary material that can favor the synapses in the human brain. A magnetoionic substance impersonates cerebral activity by superseding ions which revises the magnetic features of the matter. The advancement renders it realizable to relatively match a variety of neuronal pursuits that were formerly out of reach of humans.

Polaris Market Research has segmented the Neuromorphic Computing market report according to application, end-use, deployment, component, and region:

By End Use Outlook

• Consumer Electronics
• Automotive
• Healthcare
• Military & Defense
• Others

By Component Outlook

• Hardware
• Software
• Services

By Application Outlook

• Signal Processing
• Image Processing
• Data Processing
• Object Detection
• Others

By Deployment Outlook

• Edge
• Cloud

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research