Due to the increasing familiarity with neuromorphic computing technology and the expanding need for artificial intelligence, neuromorphic computing is likely to acquire significant traction in the future.
Neuromorphic computing systems are designed to be brain-inspired devices capable of low-energy and high-speed simulations of synaptic plasticity using spiking neural networks. BrainScaleS and SpiNNaker are the two neuromorphic computer platforms. In contrast, the SpiNNaker system is built on a numerical model that operates in real-time on bespoke digital multi-core processors. This system's simulations and models are supplied via Python scripts that make use of the PyNN API.
Because of the increasing familiarity with neuromorphic computing technology and the expanding need for artificial intelligence, neuromorphic computing is likely to acquire significant traction in the future years. The global neuromorphic computing market is estimated to gain a significant hike of about 7.89 billion USD with an expected CAGR of 21% throughout the estimated timeline.
AI integrated functionalities are rising exponentially and are widely prevalent in several end-use applications such as image processing, robotics, chatbots, language translation and processing which in turn are fueling reliance on neuromorphic computing.
Furthermore, the increasing use and utilization of software in neuromorphic computing are projected to drive market growth. Machine vision, predictive analysis, video monitoring, data modeling, and online learning are just a few of the applications that use neuromorphic computing software. Combining embodied models with neuroscience computing for the use of neuromorphic chips in cognitive and brain-based robotics is a new field of study.
The market analysis conducted by Adroit Industry Report contains market trends from 2018 to 2028, as well as vital information on development drivers, limitations, opportunities, and barriers. The market has been identified as having potential for growth in the historical years 2018 to 2020, with 2020 acting as a base year, as well as the forecast years 2021 to 2028, which contain market assessments and future prospects.
Various companies are focusing on organic growth techniques such as new product releases, product approvals, and other items such as patents and events. Inorganic growth techniques identified in the sector included acquisitions, partnerships, and collaborations. These initiatives have paved the way for market participants to grow their company and consumer base. With the increasing need for association management software in the global industry, major players in the Association management software market are likely to profit from lucrative growth opportunities in the future.
In terms of offerings, the software segment is anticipated to grow rapidly in the next years. Neuromorphic computing software is used for continuous online learning, prediction, real-time data streaming, and data modeling.
In terms of vertical, the aerospace, military, and defense sector will have the largest portion of the neuromorphic computing industry during the prediction period. In the future, aerospace, military, and defense are expected to account for 32% of the market. Neuromorphic computing is faster than any other processor at processing information. It allows the military and defense segment to study sensitive data such as battle data, as well as resource and weapon management.
In terms of geographical regions, the global neuromorphic computing market in North American is estimated to grow the fastest in the future years. This is because contemporary features, intricate hardscaping, smart irrigation, and lush gardens are all popular in the region and are expected to have an influence on the landscape service sector.
The major players of the global neuromorphic computing market are Brain Corporation, CEA Leti, General Vision, Hewlett Packard, HRL Laboratories LLC, IBM Corporation, Intel Corporation, Known, Numenta, Qualcomm, and Vicarious FPC. This market research study extensively analyses main competitors via strategic analysis, pricing analysis, micro and macro market trend and scenario analysis, and a complete evaluation of market conditions for the projected time period.
According to the findings of the market share research, the industry is very fragmented, with firms competing for market share while maintaining large and increasing product ranges. Landscape services are being heavily invested in by industry participants in order to broaden their research divisions and increase the market.
Key Segments of the Global Neuromorphic Computing Market
Offering Overview, 2018-2028 (USD Billion)
Deployment Overview, 2018-2028 (USD Billion)
- Edge Computing
- Cloud Computing
Application Overview, 2018-2028 (USD Billion)
- Image recognition
- Data Mining
- Signal Recognition
Vertical Overview, 2018-2028 (USD Billion)
- Aerospace, Military, & Defense
- Consumer Electronics
- IT & Telecommunication
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and Africa