The Neuromorphic Chip Market which was estimated to be worth US$ 1,420 million in 2015, is expected to expand at a promising CAGR of 20.7% from 2016 to 2026, reaching a revenue opportunity of US$ 10,810 million by the end of that year.
The development of neuromorphic processors is advancing due to the potential of a significant improvement in processing speed, operational prowess, and improved suitability for artificial intelligence applications.
The primary reason anticipated to propel the global neuromorphic chip market in the coming years is the enormous increase of these chips’ potential applications in industries including automotive, defence and military, aerospace, and machine learning.
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In terms of incremental potential across the various geographical markets evaluated, the North American market is predicted to grow to be the most profitable over the course of the report’s prediction period. Due to the region’s thriving consumer electronics, aerospace, and automotive industries, growth opportunities are numerous. The region also boasts some of the world’s leading chipmakers and IT companies, making it the centre for technological advancements in the field of neuromorphic chips.
According to the analysis, the North American neuromorphic chip market will grow at a remarkable 19.7% CAGR from 2016 to 2026, creating a new opportunity worth US$2,300 million. If the projections are accurate, the market’s value will increase from US$400 million in 2015 to US$2,700 million by the end of 2026. To increase production and operational efficiency, a number of companies in the area are supporting the fusion of cutting-edge, new technology like neuromorphic processors with already-existing ones.
In the realm of unmanned drones, neuromorphic processors are being used in one of the most inventive ways. Drones are being evaluated for their ability to recognise any specific place they have previously visited by storing and retrieving information via neuromorphic chips.
The report divides the global market for neuromorphic chips into three application categories: signal recognition, data mining, and picture recognition. Aerospace and defence, automotive, healthcare, consumer electronics, and industrial are the main end-use sectors for neuromorphic devices that are addressed in the paper.
In the coming years, demand is anticipated to be encouraging across all of these end-use industries, with the automotive, defence, and aerospace sectors anticipated to continue leading the way in terms of neuromorphic chip adoption. In the automotive sector, neuromorphic processors in combination with signal processing technology may aid drivers in better comprehending their immediate environment and assisting them in making better decisions.
Over the course of the report’s projection period, other industries are predicted to aid the market’s growth at a promising rate by providing neuromorphic chips with additional growth prospects. The vendor landscape has begun to swell, and businesses have begun putting more of focus on strategic collaborations in order to solidify their position in the market and take advantage of emerging opportunities. IBM Corporation, Hewlett Packard Labs, HRL Laboratories, LLC, General Vision, and Intel Corporation are a few of the industry leaders at the moment.
Leading market players are planning to dominate the global and regional markets through new strategic tie-ups and innovations
- IBM was awarded 7,355 patents in the US in 2015, putting it in the leading position for the 23rd consecutive year
- Intel Corporation invested US$ 12.1 Bn in R&D in 2015. Such high R&D investments allow the company to develop leading proprietary technologies and attain a strong leadership position.
- In September 2016, General Vision collaborated with Mando-Hella Electronics Corp. – a tier1 South Korean automotive systems manufacturer, to develop advanced driver assistance and monitoring systems integrated with NeuroMem technology, enabling advanced image recognition and multisensory pattern recognition
- Hewlett Packard Labs focuses on transferring advanced technologies into innovative products to propel the company’s growth, maintain industry leadership and competitive advantage
- HRL Laboratories focuses on widening its products portfolio reach into new application areas, which helps the company gain a competitive edge
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Global Neuromorphic Chip Market: Market Segmentation
By Application
- Image Recognition
- Signal Recognition
- Data Mining
- Others
By Vertical
- Aerospace & Defence
- Automotive
- Consumer Electronics
- Healthcare
- Industrial
- Others
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excl. Japan (APEJ)
- Japan
- Middle East & Africa (MEA)
Table of Content
1. Executive Summary
2. Assumptions & Acronyms Used
3. Research Methodology
4. Global Market Overview
4.1. Introduction
4.1.1. Market Definition
4.1.2. Market Taxonomy
4.2. Market Dynamics
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunity
4.3. Value Chain
4.4. Global Market Forecast, 2016–2026
4.4.1. Market Size (Value) Forecast
4.4.1.1. Y-o-Y Growth Projections
4.4.1.2. Absolute $ Opportunity
4.5. Global Market Snapshot (2015)
4.5.1. Market Share By Application
4.5.2. Market Share By Vertical
4.5.3. Market Share Region
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10 years.
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