Neuromorphic Computing Market (50.3% CAGR) 2020 to 2028: Global Industry Size, Share, Growth, Trends and Forecast

Neuromorphic Computing Market

Neuromorphic Computing Market

The Global Neuromorphic Computing Market was $29.9 Mn in 2020, and it is expected to reach $780.0 Mn by 2028.

Neuromorphic is the advance form of artificial intelligence. AI performs lot of task which a human can do. But cognitive ability task is still performed best by human brain.”— Consultant, IntelKOLKATA, WEST BENGAL, INDIA, September 30, 2020 /EINPresswire.com/ -- According to a new market research report published by sheer analytics and insights, The Global Neuromorphic Computing Market was $29.9 Mn in 2020, and it is expected to reach $780.0 Mn by 2028. It is eventually growing at a commendable high compound annual growth rate CAGR of 50.3% between 2020-2028, as per the latest market research report titled Global Neuromorphic Computing Market (By Offerings - Hardware, and Software. By Application - Signal Processing, Data Processing, Image Processing, Object Detection, and Others. By End-User - Consumer Electronics, Automotive, Healthcare, Military & Defense, and Others. By Geography - North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa) – Global industry analysis, size, share, growth, trends, and forecast, 2020-2028.

In September 2020, Aspinity, a U.S. based company raised $5.3 Mn from Anzu Partners, Birchmere Ventures, Amazon’s Alexa Fund, Mountain State Capital and Riverfront Ventures.

In March 2020, Cortical Labs, an Australian company, raised $ 610,000 from Blackbird Ventures

In October 2019, Prophesee, a France based company, raised €25 million from commercial bankers, as well as from existing investors 360 Capital Partners, iBionext, Supernova Invest and Robert Bosch Venture Capital.

Neuromorphic computing is a computing in which artificial systems try to learn the things as human brain learns and retain them. This is expected to be future of Artificial intelligence in coming years. Researchers are trying to integrate these capabilities on system on chip (SoC) or System in Package (SIP) form. Functioning of this technology depends upon large packages systems comprising numerous analog components. This integration will help the overall system to perform as human brain does and perform tasks in same manner. Such systems are constructed to program neural microcircuits by applying brain-like think processes such as cognitive computing and the machine learning process. This type of computing will help in performing tedious task where human can do error sometimes.

Browse the full report at https://www.sheeranalyticsandinsights.com/market-report-research/neuromorphic-computing-market-21

The Neuromorphic Computing Market is majorly driven by increasing demand for artificial intelligence and brain chips used in cognitive mapping and brain robots. These robots have the capability to respond like a human brain. Numerous advanced embedded system providers are developing these brain chips with the help of the advancement of artificial intelligence (AI) and machine learning (ML) that acts as thinks and responds as the human brain. This increased demand for Neuromorphic chips and software for signal, data, and image processing in automotive, electronics, and the robotics verticals is projected to further fuel the market. The need for better performing ICs and rising demand for neuromorphic computing in machine vision, training, video monitoring, and voice identification is also expected to accelerate the market growth over the forecast period. However, the absence of R&D and significant Investments for the development of Neuromorphic technology is restricting market growth to some extent. Apart from this, emerging applications pertaining to automation across multiple industry verticals projected to offer a lucrative opportunity for market growth during the forecast period from 2020 to 2028.

Geographically, The Neuromorphic Computing Market is divided into global regions like Europe, North America, Asia- Pacific, Latin America, Middle East, and Africa. At present North America is holding the major chunk in terms of usage and investment over neuromorphic computing. This share is due to potential investments by major investors over new startups as well as established companies in U.S. Europe follows North America in term of research over neuromorphic computing.

The primary key players in the Neuromorphic Computing Market include Hewlett-Packard, Samsung Electronics Co. Ltd., Intel Corporation, HRL Laboratories, Vicarious FPC, Inc., Numenta, Inc., CEA-Leti, IBM Corporation, Qualcomm Technologies Inc., BrainChip Holdings Ltd, General Vision Inc., Knowm Inc., Prophand Applied Brain Research Inc.

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The Global Neuromorphic Computing Market Has Been Segmented Into:

Global Neuromorphic Computing Market: By Offerings Type

Hardware
Software

Global Neuromorphic Computing Market: By Application Type

Signal Processing
Data Processing
Image Processing
Object Detection
Others

Global Neuromorphic Computing Market: By End-User Type

Consumer Electronics
Automotive
Healthcare
Military & Defense
Others

Global Neuromorphic Computing Market, By Geography Type

North America (U.S. and Rest of North America)
Europe (U.K., Germany, France, and Rest of Europe)
Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
Rest of World (Middle East & Africa (MEA), Latin America)

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