Neuromorphic Chip Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Neuromorphic Chip Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Trends, opportunities, and forecast for the global neuromorphic chip market from 2017 to 2028 by product type (hardware and software), application (image recognition, signal recognition, data mining, and object detection), end use industry (aerospace, military, automotive, consumer electronics, industrial, medical, IT & telecommunication, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)

Neuromorphic Chip Market Trends and Forecast

The future of the global neuromorphic chip market looks promising with opportunities in the aerospace, military, automotive, consumer electronic, industrial, medical, and IT & telecommunication end use industries. The global neuromorphic chip market is expected to reach an estimated $10.5 billion by 2028 with a CAGR of 26.1% from 2023 to 2028. The major drivers for this market are the growing demand for AI in neuromorphic devices along with increasing adoption of these chips in the industrial sector and pharmaceutical and bioinformatics applications.

A more than 150-page report is developed to help in your business decisions. A sample figure with some insights is shown below.

Neuromorphic Chip Market by Segment

The study includes trends and forecast for the global neuromorphic chip market by product, application, end use, and region, as follows:

Neuromorphic Chip Market by Product [Value ($B) Shipment Analysis from 2017 to 2028]:

• Hardware
• Processor
• Memory
• Software

Neuromorphic Chip Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

• Image Recognition
• Signal Recognition
• Data Mining
• Object Detection

Neuromorphic Chip Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:

• Aerospace and Military
• Automotive
• Consumer Electronics
• Industrial
• Medical
• IT & Telecommunication
• Others

Neuromorphic Chip Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Neuromorphic Chip Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, neuromorphic chip companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the neuromorphic chip companies profiled in this report include-

• Applied Brain Research
• BrainChip Holdings
• General Vision
• IBM Corporation
• Qualcomm Technologies
• MemComputing
• Natural Intelligence

Neuromorphic Chip Market Insights

• Lucintel forecasts that software will witness the highest growing segment over the forecast period due to its increasing application in aerospace & military, medicine, and information technology and telecommunication end use industries.
• Aerospace and military is expected to remain the largest end use industry segment because neuromorphic chips help in faster data handling than any processor. Neuromorphic chips also process accessing capabilities of weapons and other critical equipment being used, thus providing better insights about on-ground situations.
• North America will remain the largest region due to increasing government initiatives, investor activity, and presence of major players in the region.

Features of the Neuromorphic Chip Market

• Market Size Estimates: Neuromorphic chip market size estimation in terms of value ($B)
• Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Neuromorphic chip market size by various segments, such as by product, application, end use, and region
• Regional Analysis: Neuromorphic chip market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different products, applications, end use industries, and regions for the neuromorphic chip market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the neuromorphic chip market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the neuromorphic chip market size?

Answer: The global neuromorphic chip market is expected to reach an estimated $10.5 billion by 2028.

Q2. What is the growth forecast for neuromorphic chip market?

Answer: The global neuromorphic chip market is expected to grow with a CAGR of 26.1% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the neuromorphic chip market?

Answer: The major drivers for this market are the growing demand for AI in neuromorphic devices along with increasing adoption of these chips in the industrial sector and pharmaceutical and bioinformatics applications.

Q4. What are the major segments for neuromorphic chip market?

Answer: The future of the neuromorphic chip market looks promising with opportunities in the aerospace, military, automotive, consumer electronic, industrial, medical, and IT & telecommunication end use industries.

Q5. Who are the key neuromorphic chip companies?

Answer: Some of the key neuromorphic chip companies are as follows:

• Applied Brain Research
• BrainChip Holdings
• General Vision
• IBM Corporation
• Qualcomm Technologies
• MemComputing
• Natural Intelligence

Q6. Which neuromorphic chip segment will be the largest in future?

Answer:Lucintel forecasts that software will witness the highest growth over the forecast period due to its increasing application in aerospace & military, medicine, and information technology and telecommunication end use industries.

Q7. In neuromorphic chip market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region due to increasing government initiatives, investor activity, and presence of major players in the region.

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1. What are some of the most promising, high-growth opportunities for the global neuromorphic chip market by product type (hardware and software), application (image recognition, signal recognition, data mining, and object detection), end use industry (aerospace, military, automotive, consumer electronics, industrial, medical, IT & telecommunication, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?

Please note: It will take 2-3 business days to deliver the report upon receipt the order.