Market Research Report
Neuromorphic Computing - Global Market Outlook (2020-2028)
|Neuromorphic Computing - Global Market Outlook (2020-2028)|
Published: July 1, 2021
Stratistics Market Research Consulting
Content info: 150+ Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global Neuromorphic Computing Market is accounted for $3.10 billion in 2020 and is expected to reach $11.83 billion by 2028 growing at a CAGR of 18.2% during the forecast period. Increase in demand for artificial intelligence and machine learning, cross-industry partnerships and collaborations and need for better-performing integrated circuits (ICs) are driving the market growth. However, lack of research & development and investments are hampering the growth of the market.
Neuromorphic computing allows users to make use of numerous advantages such as low power consumption, high speed, optimum usage of memory and cognitive computing. Furthermore, these chips find high application in satellite imagery, aerial surveillance, and audio and signal processing.
Based on the offering, the software segment is going to have lucrative growth during the forecast period. The neuromorphic computing software has applications such as real-time data streaming, prediction, continuous online learning and data modelling. Growing adoption of software in industries such as information technology (IT) & telecom, aerospace & defense, and medical is also driving the growth of the market for neuromorphic computing software.
By geography, North America is going to have high growth during the forecast period. Widespread awareness about the benefits of neuromorphic computing in industries such as military & defense, aerospace and medical is a major driver for the dominance of this region.
Some of the key players profiled in the Neuromorphic Computing Market include aiCTX AG, Applied Brain Research, Inc., Aspinity Inc, Brainchip Holdings Ltd, General Vision Inc., Hewlett Packard Enterprise, HRL Laboratories, LLC, IBM Corporation, Intel Corp., Invitation AG, Numenta, Qualcomm Inc., Samsung Electronics Limited, Sony and Vicarious.
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Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.