Global Neuromorphic Computing Market - 2023-2030

Global Neuromorphic Computing Market - 2023-2030

The Global Neuromorphic Computing Market reached US$ 48.3 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 6,801.9 million by 2030. The global neuromorphic computing market is expected to exhibit a CAGR of 91.5% during the forecast period (2023-2030).

The improvement of performance and expansion of the number of applications has been made possible by the development of sophisticated algorithms and learning approaches specifically suited for neuromorphic computing. These techniques expand the capabilities of neuromorphic computing systems by enabling the training and inference of large-scale spiking neural networks.

Hardware for neuromorphic computing is now more effective and potent because of developments in neuromorphic chip designs like spiking neural networks. These architectures are able to process data in parallel, simulating the cognitive powers of the brain and facilitating quicker and more energy-efficient calculations.

Market Dynamics

Active Major Players And Technological Advances Are Boosting The Global Neuromorphic Computing Market Growth.

Several significant companies that are advancing in the area are actively participating in the global market for neuromorphic computing. These participants support the advancement of neuromorphic computing technologies. For instance, in April 2023, SynSense, the top commercial provider in the world of hardware and software for ultra-low-power sensory processing, announced the completion of a strategic fundraising round that raised tens of millions of RMB.

RunWoo and Maxvision took the lead in the round. The money will be used to hasten the development of SynSense's DYNAP-CNN2 3D neuromorphic processor. SynSense will be able to further integrate its high-speed vision solutions into autonomous systems, such as drones, robotics, and self-driving cars, due to this technological advancement.

Industry-academia Partnerships Are Boosting The Global Neuromorphic Computing Market Growth.

Industry-academia partnerships are key to driving innovation and advancements in technology, and for creating solutions that drive real-world impact. In April 2022, at a recently established Accenture Centre for Advanced Computing, Accenture and the Indian Institute of Science (IISc) Bengaluru are working together to conduct research and development in cloud continuum and neuromorphic computing.

In accordance with the program, Accenture and IISc will conduct joint research projects, co-create intellectual properties, and establish thought leadership in sustainable software engineering and other next-generation computing technologies that enable AI at the edge. These technologies include cloud, edge, quantum, and neuromorphic computing.

Technological Advancement Provides Growth Opportunities for Neuromorphic Computing Market

The next generation will expand AI into capabilities that are similar to human cognition, like autonomous adaptation and interpretation. This third generation of AI is being developed by computer science research that is led by Intel Labs. Key research areas include probabilistic computing, which develops algorithmic strategies to cope with the uncertainty, ambiguity, and contradiction in the natural world, as well as neuromorphic computing, which is focused on simulating the neural structure and function of the human brain.

COVID-19 Impact Analysis

The COVID-19 pandemic has had a significant impact on the neuromorphic computing market. The pandemic made edge computing—which processes data locally rather than relying on centralized cloud infrastructure—more crucial. Applications for edge computing benefit from the energy efficiency and real-time processing capabilities of neuromorphic computing. Opportunities for neuromorphic computing solutions may have been opened up by the rise in demand for edge computing during the epidemic.

Russia-Ukraine Conflict Analysis

The impact of the Russia-Ukraine war on the neuromorphic computing market is complex and multifaceted. Market instability could result from the conflict, especially in Eastern Europe. The region's desire for cutting-edge technologies, such as neuromorphic computing, may be impacted by political unrest, economic penalties, and strained trade relations. This can prevent the market from expanding and the use of neuromorphic computing technologies in the impacted regions.

Segment Analysis

The global neuromorphic computing market is segmented based on offering, deployment, application, end-user, and region.

The Hardware Segment Is Expected To Hold A Dominant Position In The Market Over The Forecast Period.

The hardware segment accounted for the highest market stake accounting for approximately 67.8% of the neuromorphic computing market in 2022. For instance, in January 2022, the commercialization of BrainChip's Akida neural networking processor was revealed. BrainChip claims to be the first commercial manufacturer of neuromorphic AI chips, which could offer advantages in terms of ultra-low power and performance over traditional methods. These chips are aimed toward a variety of edge and Internet of Things (IoT) applications.

Geographical Analysis

Increasing Collaborations And Partnerships Among The Key Players, And Advancement In Neuromorphic Computing Dominate The North American Region.

North America is expected to dominate the neuromorphic computing market, accounting for around 41.3% of this market. Advancements in hardware and materials, demand for AI and machine learning, processing efficiency, and real-time responsiveness are some of the reasons driving the industry. In order to maximize the learning and computational efficiency of the next generation of artificial intelligence, researchers at IBM Research Europe - Zurich are investigating the neuromorphic computing paradigm.

Competitive Landscape

The major global players in the market include Brain Corporation, CEA-Leti, General Vision, inc, Hewlett Packard Company, HRL Laboratories, LLC, International Business Machines Corporation, Intel Corporation, Knowm Inc, Qualcomm Technologies, Inc, and Samsung Electronics Co., Ltd among others.

Why Purchase the Report?
• To visualize the global neuromorphic computing market segmentation based on the product, material, distribution channel, end-user, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of neuromorphic computing market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

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Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies