PUBLISHER: Allied Market Research | PRODUCT CODE: 1397029
PUBLISHER: Allied Market Research | PRODUCT CODE: 1397029
The neuromorphic chip market was valued at $87.89 million in 2022 and is estimated to reach $7,112.0 million by 2032, exhibiting a CAGR of 55.8% from 2023 to 2032.
A neuromorphic chip is a microprocessor designed to imitate the architecture and operation of the human brain. Neuromorphic chips are digital and analog integrated circuits that implement neural networking technology. These chips are designed to process and store data together on each individual neuron instead of having separate areas for each, which allows them to avoid the von Neumann bottleneck and experience both high performance and low energy consumption at the same time. The increasing use of biometrics and in-speech recognition drives the demand for neuromorphic chips in many electronics gadgets. These chips are used to process audio data in the cloud and then return it to the phone. In addition, artificial intelligence (AI) requires more data processing power, but low-energy neuromorphic chips have the potential to shift current cloud-based applications towards direct execution on smartphones in the future without significantly depleting the device's battery. Neuromorphic chips are specific brain-inspired ASIC that implements the Spiked Neural Networks (SNNs). It has an object to reach the massively parallel brain processing ability in tens of watts on average.
The adoption of neuromorphic chips in healthcare presents a notable opportunity for advancing precision and real time diagnostics and personalized treatment approaches. These chips excel at rapidly processing extensive and intricate patient data, empowering healthcare practitioners to make more informed decisions, leading to enhanced patient outcomes. Furthermore, their energy-efficient design proves advantageous for portable and implantable medical devices, effectively extending their operational efficiency and lifespan, making them an asset in the pursuit of better healthcare solutions.
The neuromorphic chip market is segmented on the basis of end user and region. By end user, the market is divided into consumer electronics, automotive, IT and telecom, aerospace and defense, industrial, healthcare and others. By region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Taiwan, and the rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Competitive analysis and profiles of the major neuromorphic chip market players, such as IBM Corporation, HRL Laboratories, LLC, SynSense, General Vision Inc., GrAI Matter Labs, SK HYNIX INC., QUALCOMM Incorporated, BrainChip, Inc, Samsung Electronics Co. Ltd and Intel Corporation is provided in this report. Product launch, agreement, partnership, and acquisition business strategies were adopted by the major market players in 2022.
Additional benefits you will get with this purchase are:
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)