Advancement in Neural Processor Technology Driving Market Growth

Global neural processor market is anticipated to grow at a CAGR of 17.5% during the forecast period (2024–2031). Neural processor technology is evolving to increase performance, energy efficiency, and scalability to accelerate calculations and handle larger and more sophisticated neural network models. The novel processors incorporate innovations such as systolic array topologies for sparse neural networks and mixed-precision computing, which is predicted to increase the demand for neural processors. For instance, in April 2022, Synopsys, Inc. introduced a new neural processing unit (NPU) IP and toolchain that provides the industry's best performance and support for the most advanced, sophisticated neural network models. Synopsys DesignWare® ARC® NPX6 and NPX6FS NPU IP meet the demands of real-time computing with ultra-low power consumption in AI applications. To speed up application software development for the ARC NPX6 NPU IP, the new DesignWare ARC MetaWare MX Development Toolkit includes a thorough compilation environment and automatic neural network method partitioning for optimum resource use. 

Browse the full report description of “Neural Processor Market Size, Share & Trends Analysis Report by Application (Fraud Detection, Hardware Diagnostics, Financial Forecasting, Image Optimization, and Others (Disease diagnostics, Algorithm Trading)), and by End-User (BFSI, Healthcare, Retail, Defense Agencies, Media, Logistics, and Others), Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/neural-processor-market

Moreover, the focus of manufacturers has shifted towards developing low-power, high-performance, and versatile neural processors. For instance, at CES 2024 (Consumer Electronics Show), Innatera, a pioneer in ultra-low power intelligence, launched the Spiking Neural Processor T1, a neuromorphic microcontroller. The release represents a substantial advancement in energy-efficient AI for sensor-edge applications. It also showcased the Spiking Neural Processor T1 with live demonstrations of radar and audio applications from its partners.

Market Coverage  

• The market number available for 2023-2031 

• Base year: 2023

• Forecast period: 2024-2031 

• Segment Covered- 

o By Application

o By End-User

• Regions Covered- 

o North America 

o Europe 

o Asia-Pacific 

o Rest of the World

• Competitive Landscape- Google LLC., IBM Corp., Intel Corp., AMD Inc., and Qualcomm Technologies Inc., among others.

Key questions addressed by the report 

• What is the market's growth rate? 
• Which segment and region dominate the market in the base year? 
• Which segment and region will project the fastest growth in the market? 
• Who is the leader in the market? 
• How are players addressing challenges to sustain growth? 
• Where is the investment opportunity? 

Global Neural Processor Market Report Segment 

By Application

• Fraud Detection
• Hardware Diagnostics
• Financial Forecasting
• Image Optimization
• Others (Disease diagnostics, Algorithm Trading) 

By End-User

• BFSI
• Healthcare
• Retail
• Defense Agencies
• Media
• Logistics
• Others

Global Neural Processor Market Report Segment by Region 

North America 

· United States 

· Canada 

Europe

· UK 

· Germany 

· Italy 

· Spain 

· France 

· Rest of Europe 

Asia-Pacific 

· China 

· India 

· Japan 

· South Korea 

· Rest of Asia-Pacific 

Rest of the World 

· Latin America

· Middle East and Africa

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