Neuromorphic Computing Market
Global Neuromorphic Computing Market Size, Share & Trends Analysis Report By Offering (Hardware, and Software) By Deployment (Edge Computing, and Cloud Computing) By Application (Data Mining, Object Detection, and Others) By Vertical (Aerospace and Military & Defense, Automotive, Consumer Electronics, and Others) Forecast, 2021-2027 Update Available - Forecast 2024-2030
The global neuromorphic computing market is anticipated to grow at a CAGR of 19.5% during the forecast period (2021-2027). The increasing demand for artificial intelligence (AI) and machine learning (ML) owing to the rising use of integrated circuits, and the growing requirement for brain robots are the prominent factors contributing high towards the growth of the market. The adoption of AI in various domains such as military & defense, automotive, consumer electronics, telecom, media, and others has completely changed the way of working. The developments in AI have been awe-inspiring. In addition, from biometric systems to large-scale data security and fraud detection to virtual assistance, AI has become an important part of various industries. The use of AI in neuromorphic computing, where an artificial brain is trained to perform like the human brain by using computing algorithms, is gaining popularity. Moreover, in neuromorphic computing the neuromorphic chips are being used which provides numerous advantages such as memory optimization, low power consumption, high speed, and others. The rising use of neuromorphic chips in neuromorphic computing owing to the increased adoption of neuromorphic computing in security systems and others is anticipated to drive the growth of the market.
However, there are some factors such as less knowledge regarding neuromorphic computing and complex algorithms, due to which the designing of computing hardware is becoming complex, projected to hinder the growth of the market. Rising investment by companies in R&D activities for the further development in neuromorphic computing may offer lucrative growth opportunities in the market during the forecast period.
Impact of COVID-19 on Global Neuromorphic computing Market
The neuromorphic computing market was hardly hit by the impact of the COVID-19 pandemic. During the pandemic, the government of major economies in the world announced lockdown, due to which, the manufacturing operation and production units were paused. In addition, transportation facilities were also stopped, which has severely affected the raw material supply chain for neuromorphic chip manufacturing. The demand for neuromorphic chips was less from various verticals such as automotive, military & defense, consumer electronics, IT & telecom, this decreases the revenue of many neuromorphic chips manufacturing companies, hence market registered a negative growth rate during the pandemic period.
Segmental Outlook
The global neuromorphic computing market is segmented based on offering, deployment, application, and vertical. Based on offering, the market is again bifurcated into hardware and software. The software segment held the largest revenue in 2020, and it is further estimated to be dominant during the forecast period. This is owing to the increasing computing software in various industries such as aerospace & defense, IT & telecom, and medical, among others. Based on deployment, the market is bifurcated into edge-cutting, and cloud-computing. Among these, the edge-cutting segment is anticipated to hold the largest revenue during the forecast period. Based on application, it is segregated into data mining, object detection, image & signal processing, and others. During the forecast period, the image & signal processing segment is expected to grow at significant CAGR due to increasing demand for audio signals. Similarly, based on vertical, the market is further categorized into aerospace and military & defense, automotive, consumer electronics, healthcare, IT & Telecom, Industrial, and others.
Global Neuromorphic Computing Market Share by Vertical, 2020 (%)
The Automotive Segment is Emerge as a Fastest-Growing in the Global Neuromorphic Computing Market
Among various verticals, the automotive segment is expected to be the fastest-growing during the forecast period. The advancement in neuromorphic chips for the autonomous industry is likely to increase their adoption. For instance, Brain Chips accelerators are evaluated for use in advanced driver assisted (ADAS) and autonomous vehicle (AV) applications. It also helps to increase the performance of object recognition provided by BrainChip software and algorithms. Such types of developments will increase the market growth of neuromorphic computing during the forecast period.
Regional Outlook
Geographically, the global neuromorphic computing market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, ASEAN, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). Asia-Pacific is projected to be the fastest-growing region in the global neuromorphic computing market during the forecast period. The factors that are attributed to the growth of the market in the region include increasing demand for consumer electronics, development in AI and ML technologies, easy availability of raw material for neuromorphic chips manufacturing, and investment in R&D activities for AI developments by major players. Among other economies of the Asia-Pacific, China contributes high to the growth of the market owing to the presence of neuromorphic chips manufacturers.
Global Neuromorphic Computing Market Growth, By Region 2021-2027
North America is Anticipated to Hold Significant Share in the Global Neuromorphic Market
Geographically, North America dominated the market in 2020, and it is again projected to dominate the market by accounting significant share during the forecast period. The increasing aerospace, military & defense, IT & Telecom, and medical industries in the major economies of North America are surging the adoption of neuromorphic computing, which in turn, driving the market growth. Moreover, the presence of major market vendors such as Intel Corp, IBM Corp is also boosting the growth of the market in the region. The market is also positively affected by government initiatives and investment activities for neuromorphic commuting R&D activities. For instance, in September 2020, the Department of Energy (DOE), the funding of $2.0 million to the five research projects for the development of neuromorphic computing. Moreover, the increasing focus of government on AI technology is likely to widen the scope for neuromorphic computing market growth.
Market Players Outlook
The key players in the neuromorphic computing market contributing significantly by providing different types of products and increasing their geographical presence across the globe. The key players of the market include Intel Corp, IBM Corp, BrainChip Holdings Ltd., Qualcomm Technologies, Inc., HP Enterprise, Brain Corp, General Vision, Inc., HRL Laboratories LLC, Numenta, Inc., Vicarious FPC, Inc., Samsung Electronics Co. Ltd., Applied Brain Research, Inc., among others. These market players are adopting several market strategies including product launch and approvals, merger and acquisition, partnership collaboration, business, and capacity expansion, and others. For instance, in March 2020 - SolidRun and Gyrfalcon developed First Edge Optimized AI Inference Server Janux GS31 that supports leading neural network frameworks. It can be configured with up to 128 Gyrfalcon Lightspeeur SPR2803 AI acceleration chips for improved inference performance for most complex video AI models.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global neuromorphic computing market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Neuromorphic Computing Industry
• Recovery Scenario of Global Neuromorphic Computing Industry
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Porter’s Analysis
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on key players
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Neuromorphic Computing Market, By Offering
5.1.1. Hardware
5.1.2. Software
5.2. Global Neuromorphic Computing Market, By Deployment
5.2.1. Edge Computing
5.2.2. Cloud Computing
5.3. Global Neuromorphic Computing Market, By Application
5.3.1. Data Mining
5.3.2. Object Detection
5.3.3. Image & Signal Processing
5.3.4. Others
5.4. Global Neuromorphic Computing Market, By Vertical
5.4.1. Aerospace and Military & Defense
5.4.2. Automotive
5.4.3. Consumer Electronics
5.4.4. Healthcare
5.4.5. IT & Telecom
5.4.6. Industrials
5.4.7. Others
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
6.4.1. Latin America
6.4.2. Middle East & Africa
7. Company Profiles
7.1. Intel Corp.
7.2. IBMCorp.
7.3. BrainChip Holdings Ltd.
7.4. Qualcomm Technologies, Inc.
7.5. HP Enterprise
7.6. Brain Corp.
7.7. General Vision, Inc.
7.8. HRL Laboratories LLC
7.9. Knowm Inc.
7.10. Numenta, Inc.
7.11. Vicarious FPC, Inc.
7.12. Samsung Electronics Co. Ltd.
7.13. Applied Brain Research, Inc.
7.14. Aspinity Inc.
7.15. BrainCo, Inc.
7.16. Bitbrain Technologies
7.17. Halo Neuro, Inc.
7.18. NextMindSRL
7.19. Cognixion Inc.
7.20. NeuroPace, Inc.
7.21. InnateraNanosystems BV
7.22. MemComputing, Inc.
7.23. Natural Intelligence Systems
7.24. Ceryx Medical Ltd.
1. GLOBAL NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY OFFERING, 2020-2027 ($ MILLION)
2. GLOBAL NEUROMORPHIC COMPUTING HARDWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
3. GLOBAL NEUROMORPHIC COMPUTING SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2020-2027 ($ MILLION)
5. GLOBAL NEUROMORPHIC EDGE COMPUTING MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
6. GLOBAL NEUROMORPHIC CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
7. GLOBAL NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
8. GLOBAL NEUROMORPHIC COMPUTING IN DATA MINING MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
9. GLOBAL NEUROMORPHIC COMPUTING IN OBJECT DETECTION MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
10. GLOBAL NEUROMORPHIC COMPUTING IN IMAGE AND SIGNAL PROCESSING MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
11. GLOBAL NEUROMORPHIC COMPUTING IN OTHERS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
12. GLOBAL NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY VERTICAL, 2020-2027 ($ MILLION)
13. GLOBAL NEUROMORPHIC COMPUTING FOR AEROSPACE AND MILITARY&DEFENSE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
14. GLOBAL NEUROMORPHIC COMPUTING FOR AUTOMOTIVE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
15. GLOBAL NEUROMORPHIC COMPUTING FOR CONSUMER ELECTRONICS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
16. GLOBAL NEUROMORPHIC COMPUTING FOR HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
17. GLOBAL NEUROMORPHIC COMPUTING FOR IT & TELECOM MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
18. GLOBAL NEUROMORPHIC COMPUTING FOR INDUSTRIALS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
19. GLOBAL NEUROMORPHIC COMPUTING FOR OTHER VERTICALS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
20. NORTH AMERICAN NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
21. NORTH AMERICAN NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY OFFERING,2020-2027 ($ MILLION)
22. NORTH AMERICAN NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2020-2027 ($ MILLION)
23. NORTH AMERICAN NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
24. NORTH AMERICAN NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY VERTICAL, 2020-2027 ($ MILLION)
25. EUROPEAN NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
26. EUROPEAN NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY OFFERING, 2020-2027 ($ MILLION)
27. EUROPEAN NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2020-2027 ($ MILLION)
28. EUROPEAN NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION
29. EUROPEAN NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY VERTICAL, 2020-2027 ($ MILLION
30. ASIA-PACIFIC NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
31. ASIA-PACIFIC NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY OFFERING, 2020-2027 ($ MILLION)
32. ASIA-PACIFIC NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2020-2027 ($ MILLION)
33. ASIA-PACIFIC NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
34. ASIA-PACIFIC NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY VERTICAL, 2020-2027 ($ MILLION)
35. REST OF THE WORLD NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
36. REST OF THE WORLD NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY OFFERING, 2020-2027 ($ MILLION)
37. REST OF THE WORLD NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT,2020-2027 ($ MILLION)
38. REST OF THE WORLD NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
39. REST OF THE WORLD NEUROMORPHIC COMPUTING MARKET RESEARCH AND ANALYSIS BY VERTICAL, 2020-2027 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL NEUROMORPHIC COMPUTING MARKET, 2020-2027 (% MILLION)
2. IMPACT OF COVID-19 ON GLOBAL NEUROMORPHIC COMPUTING MARKET BY SEGMENT, 2020-2027 (% MILLION)
3. RECOVERY OF GLOBAL NEUROMORPHIC COMPUTING MARKET, 2020-2027 (%)
4. GLOBAL NEUROMORPHIC COMPUTING MARKET SHARE BY OFFERING,2020 VS 2027 (%)
5. GLOBAL NEUROMORPHIC COMPUTING MARKET SHARE BY DEPLOYMENT,2020 VS 2027 (%)
6. GLOBAL NEUROMORPHIC COMPUTING MARKET SHARE BY APPLICATION, 2020 VS 2027 (%)
7. GLOBAL NEUROMORPHIC COMPUTING MARKET SHARE BY VERTICAL, 2020 VS 2027 (%)
8. GLOBAL NEUROMORPHIC COMPUTING MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
9. GLOBAL NEUROMORPHIC COMPUTING HARDWARE MARKET SHARE BY REGION, 2020 VS 2027 (%)
10. GLOBAL NEUROMORPHIC COMPUTING SOFTWARE MARKET SHARE BY REGION, 2020 VS 2027 (%)
11. GLOBAL NEUROMORPHIC EDGE COMPUTING MARKET RESEARCH SHARE BY REGION, 2020 VS 2027 (%)
12. GLOBAL NEUROMORPHIC CLOUD COMPUTING MARKET RESEARCH SHARE BY REGION, 2020 VS 2027 (%)
13. GLOBAL NEUROMORPHIC COMPUTING IN DATA MINING MARKET SHARE BY REGION, 2020-2027 ($ MILLION)
14. GLOBAL NEUROMORPHIC COMPUTING IN OBJECT DETECTION MARKET SHARE BY REGION, 2020 VS 2027 (%)
15. GLOBAL NEUROMORPHIC COMPUTING IN IMAGE AND SIGNAL PROCESSING MARKET SHARE BY REGION, 2020 VS 2027 (%)
16. GLOBAL NEUROMORPHIC COMPUTING IN OTHERS MARKET SHARE BY REGION, 2020 VS 2027 (%)
17. GLOBAL NEUROMORPHIC COMPUTING FOR AEROSPACE AND MILITARY&DEFENSE MARKET SHARE BY REGION, 2020 VS 2027 (%)
18. GLOBAL NEUROMORPHIC COMPUTING FOR AUTOMOTIVE MARKET SHARE BY REGION, 2020 VS 2027 (%)
19. GLOBAL NEUROMORPHIC COMPUTING FOR CONSUMER ELECTRONICS MARKET SHARE BY REGION, 2020 VS 2027 (%)
20. GLOBAL NEUROMORPHIC COMPUTING FOR HEALTHCARE MARKET SHARE BY REGION, 2020 VS 2027 (%)
21. GLOBAL NEUROMORPHIC COMPUTING FOR IT & TELECOM MARKET SHARE BY REGION, 2020 VS 2027 (%)
22. GLOBAL NEUROMORPHIC COMPUTING FOR INDUSTRIALS MARKET SHARE BY REGION, 2020 VS 2027 (%)
23. GLOBAL NEUROMORPHIC COMPUTING FOR OTHER VERTICALS MARKET SHARE BY REGION, 2020 VS 2027 (%)
24. US NEUROMORPHIC COMPUTING MARKET SIZE, 2020-2027 ($ MILLION)
25. CANADA NEUROMORPHIC COMPUTING MARKET SIZE, 2020-2027 ($ MILLION)
26. UK NEUROMORPHIC COMPUTING MARKET SIZE, 2020-2027 ($ MILLION)
27. FRANCE NEUROMORPHIC COMPUTING MARKET SIZE, 2020-2027 ($ MILLION)
28. GERMANY NEUROMORPHIC COMPUTING MARKET SIZE, 2020-2027 ($ MILLION)
29. ITALY NEUROMORPHIC COMPUTING MARKET SIZE, 2020-2027 ($ MILLION)
30. SPAIN NEUROMORPHIC COMPUTING MARKET SIZE, 2020-2027 ($ MILLION)
31. REST OF EUROPE NEUROMORPHIC COMPUTING MARKET SIZE, 2020-2027 ($ MILLION)
32. INDIA NEUROMORPHIC COMPUTING MARKET SIZE, 2020-2027 ($ MILLION)
33. CHINA NEUROMORPHIC COMPUTING MARKET SIZE, 2020-2027 ($ MILLION)
34. JAPAN NEUROMORPHIC COMPUTING MARKET SIZE, 2020-2027 ($ MILLION)
35. SOUTH KOREA NEUROMORPHIC COMPUTING MARKET SIZE, 2020-2027 ($ MILLION)
36. REST OF ASIA-PACIFIC NEUROMORPHIC COMPUTING MARKET SIZE, 2020-2027 ($ MILLION)
37. REST OF THE WORLD NEUROMORPHIC COMPUTING MARKET SIZE, 2021-2027($ MILLION
