PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1251551
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1251551
Global Neuromorphic Computing Market is valued at approximately USD 3496.5 Million in 2021 and is anticipated to grow with a healthy growth rate of more than 21.2% over the forecast period 2022-2029. The term "neuromorphic computing" describes computer frameworks structured after the nerve and brain systems of humans. Neuromorphic Computing enables the highly ranged and proficient functions of a human brain in a machine. Neuromorphic computers can be added to current computers that carry out deep learning for artificial intelligence. For its Operation, Neuromorphic Computing uses an Artificial neural network. ANN replicates the structure of the human brain and the Neurons in artificial neural networks are linked to one another in different layers, just similar to a real Brain. The rise in the demand for Artificial Intelligence and high performance ICs and increasing investments by key market players may lead to the expansion of the Neuromorphic Computing Market.
In December 2019, Sony Corporation bought Insightness Firm, a Zurich-based company with a neuromorphic vision sensor that enables motion detection in a matter of milliseconds. The company has formed a cooperation with Paris-based Prophesee to expand the neuromorphic image sensor industry. The increasing investment and development of such key market players is adding to the growth of the Neuromorphic computing market. In Addition, the overall amount of business investment in artificial intelligence (AI) worldwide in 2020 was close to 68 billion dollars, 42.2 billion of which came from private sources. High Investments in AI boosting market growth. In the upcoming industry trends, Artificial General Intelligence is highly demanded, AGI systems are designed to carry out any task that humans are capable of. Additionally, the neuromorphic technology ought to be applied for security. However, a lack of investment in research and development stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Neuromorphic Computing Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is dominating the market with the highest revenue and the use of speech recognition technology powered by AI which is among the major trends in the area. As a result of the integration, its speech recognition algorithms could be improved to deliver superior voice quality. Asia Pacific seems to have the highest growth rate in the Neuromorphic Computing market. With the increasing investment in AI, Companies focusing on adopting new trends and developing technologies in the area.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Offering offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable