Neuromorphic Computing Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Neuromorphic Computing Market
The global neuromorphic computing market size was valued at USD 92,450 thousands in 2023, and the market is now projected to grow from USD 139,291 thousands in 2024 to USD 672,056 thousands by 2028, exhibiting a CAGR of 48.2% during the forecast period (2024-2032).
The COVID-19 pandemic definitely had an optimistic outcome in the healthcare industry, with neuromorphic chips being installed utilized in hospitals and clinics globally. However, the pandemic outbreak unfavorably affected the automotive, electronics, manufacturing, and other different industries owing to the governmental lockdowns. The resulting alternate restrictions on delivery chains, trade, and production altogether decreased the consumer demand and spending across the globe. All of these factors slowed down the pace of neuromorphic computing market growth.
Neuromorphic computing is a technique of computer engineering influenced with the aid of the human mind structure and its features and functioning. It creates web like networks of electrical neurons and synapses in human brains. Moreover, the upward thrust in demand for machine learning (MI), artificial intelligence (AI) and integrated circuits (IC) are the primary driving elements of neuromorphic computing market share.
Rising adoption of neuromorphic computing to revolutionize the IoT pushes the market boom. Neuromorphic computing complements the manner gadgets communicate with each other. Also, through the use of AI algorithms, neuromorphic computing permits distinct and efficient network architectures and swift information processing.
Comprehensive Analysis of Neuromorphic Computing Market
The neuromorphic computing market is seen rising at an exceptional pace owing to its market segmentation. These market segmentations are further systematically bifurcated into application analysis, industry analysis, and region. In terms of application, image recognition segment holds the largest market share. However, based on industry analysis, consumer electronics segment dominates the neuromorphic computing market.
Based on regional analysis, the North American regional market dominates the global neuromorphic computing industry. The north American region is gaining possibilities in semiconductor programs. Additionally, the Asia pacific is estimated to witness the best CAGR over the projected forecast period.
The key market companies are focused on integrating and collaborations with other big players of the same industry. They are doing so to capture market share and become dominate the industry. These partnerships will allow them to save costs. These companies include, Intel Corporation (U.S.), IBM Corporation (U.S.), BrainChip Holdings Ltd. (Australia), Qualcomm (U.S.), General Vision Inc. (U.S.), GrAI Matter Labs (France), Innatera Nanosystems (Netherlands), SynSense AG (Switzerland), Samsung Electronics Co. Ltd (South Korea), SK Hynix Inc. (South Korea).
In February 2024, SynSense signed a partnership agreement with invitation in order to address the surge in demand for high performing intelligent vision in consumer and industrial marketplaces. This partnership is expected to create neuromorphic technology for single processors, sensors, and integrated in-sensor devices across numerous industries.
Segmentation Table
Neuromorphic Computing Market Scope
Study Period 2019-2028
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2028
Historical Period 2019-2022
Growth Rate CAGR of 48.2% from 2024-2028
Unit Value (USD Thousands)
Segmentation By Application, By Industry, By Region
By Application Signal Processing
Image Recognition
Data Mining
Others (Object Detection and NLP)
By Industry Automotive
Healthcare
Consumer Electronics
Manufacturing & Industrial
Aerospace & Defense
Others (Agriculture)
By Region North America (By Application, By Industry, By Country)
- U.S.
- Canada
- Mexico
Europe (By Application, By Industry, By Country)
- U.K.
- Germany
- Italy
- France
- Rest of Europe
Asia Pacific (By Application, By Industry, By Country)
- China
- India
- Japan
- Rest of Asia Pacific
Rest of World (By Application, By Industry)
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Neuromorphic Computing Key Players Market Share/Ranking, 2023
- 5. Global Neuromorphic Computing Market Size Estimates and Forecasts, By Segments, 2019-2028
- 5.1. Key Findings
- 5.2. By Application (USD)
- 5.2.1. Signal Processing
- 5.2.2. Image Recognition
- 5.2.3. Data Mining
- 5.2.4. Others (Object Detection, NLP, etc.)
- 5.3. By Industry (USD)
- 5.3.1. Automotive
- 5.3.2. Healthcare
- 5.3.3. Consumer Electronics
- 5.3.4. Manufacturing & Industrial
- 5.3.5. Aerospace & Defence
- 5.3.6. Others (Agriculture, etc.)
- 5.4. By Region (USD)
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Rest of World
- 6. North America Neuromorphic Computing Market Size Estimates and Forecasts, By Segments, 2019-2028
- 6.1. Key Findings
- 6.2. By Application (USD)
- 6.2.1. Signal Processing
- 6.2.2. Image Recognition
- 6.2.3. Data Mining
- 6.2.4. Others (Object Detection, NLP, etc.)
- 6.3. By Industry (USD)
- 6.3.1. Automotive
- 6.3.2. Healthcare
- 6.3.3. Consumer Electronics
- 6.3.4. Manufacturing & Industrial
- 6.3.5. Aerospace & Defence
- 6.3.6. Others (Agriculture, etc.)
- 6.4. By Country (USD)
- 6.4.1. United States
- 6.4.2. Canada
- 6.4.3. Mexico
- 7. Europe Neuromorphic Computing Market Size Estimates and Forecasts, By Segments, 2019-2028
- 7.1. Key Findings
- 7.2. By Application (USD)
- 7.2.1. Signal Processing
- 7.2.2. Image Recognition
- 7.2.3. Data Mining
- 7.2.4. Others (Object Detection, NLP, etc.)
- 7.3. By Industry (USD)
- 7.3.1. Automotive
- 7.3.2. Healthcare
- 7.3.3. Consumer Electronics
- 7.3.4. Manufacturing & Industrial
- 7.3.5. Aerospace & Defence
- 7.3.6. Others (Agriculture, etc.)
- 7.4. By Country (USD)
- 7.4.1. United Kingdom
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Italy
- 7.4.5. Rest of Europe
- 8. Asia Pacific Neuromorphic Computing Market Size Estimates and Forecasts, By Segments, 2019-2028
- 8.1. Key Findings
- 8.2. By Application (USD)
- 8.2.1. Signal Processing
- 8.2.2. Image Recognition
- 8.2.3. Data Mining
- 8.2.4. Others (Object Detection, NLP, etc.)
- 8.3. By Industry (USD)
- 8.3.1. Automotive
- 8.3.2. Healthcare
- 8.3.3. Consumer Electronics
- 8.3.4. Manufacturing & Industrial
- 8.3.5. Aerospace & Defence
- 8.3.6. Others (Agriculture, etc.)
- 8.4. By Country (USD)
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. Rest of Asia Pacific
- 9. Rest of World Neuromorphic Computing Market Size Estimates and Forecasts, By Segments, 2019-2028
- 9.1. Key Findings
- 9.2. By Application (USD)
- 9.2.1. Signal Processing
- 9.2.2. Image Recognition
- 9.2.3. Data Mining
- 9.2.4. Others (Object Detection, NLP, etc.)
- 9.3. By Industry (USD)
- 9.3.1. Automotive
- 9.3.2. Healthcare
- 9.3.3. Consumer Electronics
- 9.3.4. Manufacturing & Industrial
- 9.3.5. Aerospace & Defence
- 9.3.6. Others (Agriculture, etc.)
- 10. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 10.1. Intel Corporation
- 10.1.1. Overview
- 10.1.1.1. Key Management
- 10.1.1.2. Headquarters
- 10.1.1.3. Offerings/Business Segments
- 10.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 10.1.2.1. Employee Size
- 10.1.2.2. Past and Current Revenue
- 10.1.2.3. Geographical Share
- 10.1.2.4. Business Segment Share
- 10.1.2.5. Recent Developments
- 10.2. IBM Corporation
- 10.2.1. Overview
- 10.2.1.1. Key Management
- 10.2.1.2. Headquarters
- 10.2.1.3. Offerings/Business Segments
- 10.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 10.2.2.1. Employee Size
- 10.2.2.2. Past and Current Revenue
- 10.2.2.3. Geographical Share
- 10.2.2.4. Business Segment Share
- 10.2.2.5. Recent Developments
- 10.3. BrainChip Holdings Ltd.
- 10.3.1. Overview
- 10.3.1.1. Key Management
- 10.3.1.2. Headquarters
- 10.3.1.3. Offerings/Business Segments
- 10.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 10.3.2.1. Employee Size
- 10.3.2.2. Past and Current Revenue
- 10.3.2.3. Geographical Share
- 10.3.2.4. Business Segment Share
- 10.3.2.5. Recent Developments
- 10.4. Qualcomm
- 10.4.1. Overview
- 10.4.1.1. Key Management
- 10.4.1.2. Headquarters
- 10.4.1.3. Offerings/Business Segments
- 10.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 10.4.2.1. Employee Size
- 10.4.2.2. Past and Current Revenue
- 10.4.2.3. Geographical Share
- 10.4.2.4. Business Segment Share
- 10.4.2.5. Recent Developments
- 10.5. General Vision Inc.
- 10.5.1. Overview
- 10.5.1.1. Key Management
- 10.5.1.2. Headquarters
- 10.5.1.3. Offerings/Business Segments
- 10.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 10.5.2.1. Employee Size
- 10.5.2.2. Past and Current Revenue
- 10.5.2.3. Geographical Share
- 10.5.2.4. Business Segment Share
- 10.5.2.5. Recent Developments
- 10.6. GrAI Matter Labs
- 10.6.1. Overview
- 10.6.1.1. Key Management
- 10.6.1.2. Headquarters
- 10.6.1.3. Offerings/Business Segments
- 10.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 10.6.2.1. Employee Size
- 10.6.2.2. Past and Current Revenue
- 10.6.2.3. Geographical Share
- 10.6.2.4. Business Segment Share
- 10.6.2.5. Recent Developments
- 10.7. Innatera Nanosystems
- 10.7.1. Overview
- 10.7.1.1. Key Management
- 10.7.1.2. Headquarters
- 10.7.1.3. Offerings/Business Segments
- 10.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 10.7.2.1. Employee Size
- 10.7.2.2. Past and Current Revenue
- 10.7.2.3. Geographical Share
- 10.7.2.4. Business Segment Share
- 10.7.2.5. Recent Developments
- 10.8. SynSense AG
- 10.8.1. Overview
- 10.8.1.1. Key Management
- 10.8.1.2. Headquarters
- 10.8.1.3. Offerings/Business Segments
- 10.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 10.8.2.1. Employee Size
- 10.8.2.2. Past and Current Revenue
- 10.8.2.3. Geographical Share
- 10.8.2.4. Business Segment Share
- 10.8.2.5. Recent Developments
- 10.9. Samsung Electronics Co. Ltd
- 10.9.1. Overview
- 10.9.1.1. Key Management
- 10.9.1.2. Headquarters
- 10.9.1.3. Offerings/Business Segments
- 10.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 10.9.2.1. Employee Size
- 10.9.2.2. Past and Current Revenue
- 10.9.2.3. Geographical Share
- 10.9.2.4. Business Segment Share
- 10.9.2.5. Recent Developments
- 10.10. SK Hynix Inc.
- 10.10.1. Overview
- 10.10.1.1. Key Management
- 10.10.1.2. Headquarters
- 10.10.1.3. Offerings/Business Segments
- 10.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 10.10.2.1. Employee Size
- 10.10.2.2. Past and Current Revenue
- 10.10.2.3. Geographical Share
- 10.10.2.4. Business Segment Share
- 10.10.2.5. Recent Developments
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