Pune, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Market Size and Growth Analysis:
“The Neuromorphic Chip Market Size was valued at USD 97.30 Million in 2023 and is expected to reach USD 3058.5 Million by 2032 and grow at a CAGR of 46.80% over the forecast period 2024-2032 - As Per the SNS Insider Research”
The Neuromorphic Chip Market Is Experiencing A Significant Increase Due To The Integration Of Advanced Artificial Intelligence
Advancements in artificial intelligence (AI) and the need for brain-like computing systems are propelling rapid growth in the neuromorphic chip market. A new development is a high-performance neuromorphic computer that runs 50 times faster and uses 100 times less energy than conventional systems. This advanced technology has more than 1,000 specialized AI chips, 1.15 billion artificial neurons, and 128 billion artificial synapses, performing 20 quadrillion operations per second while using 15 trillion operations per watt efficiently. This advance in technology is poised to transform AI research and applications, driving market growth and international attention.
Advancements Fueling Growth In Neuromorphic Chip Market
Progress in Spiking Neural Networks (SNNs) and creative instruction set architectures (ISAs) are poised to drive the neuromorphic chip industry forward. New chips with more than 2 million neurons and 100 million synapses tackle issues of scalability and on-chip learning. SNNs utilize event-based signals to mimic brain functions, while improved ISAs facilitate quick state transitions and effective neural model creation, establishing neuromorphic chips as crucial for surpassing traditional computing boundaries and propelling AI technology forward.
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Key Players Covered in this Research Report are:
- Hewlett Packard Enterprise
- Intel Corp.
- Brain chip Holdings Ltd.
- IBM
- Innatera
- Koniku
- Samsung Electronics Limited
- General Vision Inc.
- Qualcomm
- Nepes Corp
- Ceryx Medical
Neuromorphic Chip Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 97.30 Million |
| Market Size by 2032 | USD 3058.5 Million |
| CAGR | CAGR of 46.80% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia-Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia-Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Growth Drivers | • Advancements in quantum materials and government funding drive growth of neuromorphic chip market. • Advancements in Dynamic Computing Drive Expansion in the Neuromorphic Chip Market. |
Neuromorphic Chip Market Growth In 2023 Driven By Software Dominance And Consumer Electronics
By 2023, software dominates 65% of the neuromorphic chip market, highlighting its crucial contribution to the progression of these intricate systems. This superiority demonstrates the necessary requirement for advanced software to enhance neuromorphic hardware. Top companies such as IBM, Intel, and Brain Chip Holdings are advancing with cutting-edge software tools. IBM improves the efficiency of its TrueNorth chip, Intel backs its Loihi processors with strong frameworks, and Brain Chip provides potent software for its Akida neural processor. These advancements make it easier to incorporate neuromorphic chips into industries like robotics, autonomous vehicles, and IoT devices, underlining the important connection between state-of-the-art hardware and software for the best results and energy efficiency.
Consumer electronics dominated the neuromorphic chip market in 2023, accounting for 41% of total revenue. Neuromorphic computing is gaining more value for its strong performance and efficient energy usage. In contrast to traditional cloud-dependent systems, neuromorphic chips enable devices to operate intelligently without internet connection, enhancing capabilities such as biometrics and speech recognition. The advancement of wearable technology, which is essential for personal healthcare, is enhanced by the energy efficiency and fast performance of neuromorphic chips. Innovations like IBM's TrueNorth enable advanced features such as image recognition and real-time health monitoring, underscoring the increasing importance of neuromorphic computing in edge applications and smart wearables.
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Key Market Segmentation
By Offering
- Software
- Hardware
By Application
- Signal Recognition
- Image Recognition
- Data Mining
By End User
- Aerospace & Defence
- Automotive
- Consumer Electronics
- Healthcare
- Industrial
- Others
North America And Asia-Pacific Drive The Growth Of The Neuromorphic Chip Market
In 2023, North America dominated the neuromorphic chip industry, capturing 34% of the revenue. Development is driven by substantial funding from both the government and private companies, such as the USD 45.6 million provided by the U.S. National Science Foundation for semiconductor research through the CHIPS and Science Act of 2022, with participation from big corporations like Samsung and Ericsson. Canada’s upcoming legislation, the Artificial Intelligence and Data Act (AIDA), is anticipated to promote the progress of AI and neuromorphic technologies. Moreover, Los Alamos National Laboratory and other research institutions are working on developing advanced memristive devices, which are enhancing the technological progress and need for complex neuromorphic chips in the region.
In 2023, Asia-Pacific emerged as the second fastest-growing region in the neuromorphic chip market, holding 28% of the share. The growth is driven by technological advancements and increased R&D investments. Leading companies such as Japan’s Preferred Networks and South Korea’s Samsung Electronics have introduced innovative neuromorphic chips for efficient edge computing and enhanced data processing. Additionally, the Chinese Academy of Sciences is advancing scalable neuromorphic systems, boosting the region's global influence.
Recent Development
- March 2024: KAIST created the first AI semiconductor for large language models using neuromorphic technology, mimicking the human nervous system.
- September 2023: SynSense launched the Xylo IMU HDK with an open-source Python toolchain for motion processing and SNN model development.
- April 2024: Intel introduced Hala Point, the world’s largest neuromorphic system, using the Loihi 2 processor for brain-inspired AI.
- May 2024: SSD unveiled a new instruction set architecture with on-chip learning for neuromorphic chips, enhancing SNNs and addressing power and storage issues.
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Key Takeaways for Nueromorphic Chip Market
- Understanding the most recent advances in technology, such as new chip designs and uses, helps companies adjust their plans to incorporate the latest innovations.
- Finding areas of growth in the neuromorphic chip market is key for making investment choices and forming partnerships.
- Having knowledge of regulatory changes and government initiatives can assist businesses in complying with requirements and taking advantage of funding opportunities.
- Assessing rivals' progress and market positioning helps improve competitive strategies and uncover potential market opportunities.
TABLE OF CONTENTS – Analysis of Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Wafer Production Volumes, by Region (2023)
5.2 Chip Design Trends (Historic and Future)
5.3 Fab Capacity Utilization (2023)
5.4 Supply Chain Metrics
6. Competitive Landscape
7. Neuromorphic Chip Market Segmentation, by Offering
8. Neuromorphic Chip Market Segmentation, by Application
9. Neuromorphic Chip Market Segmentation, by End User
10. Regional Analysis
11. Company Profiles
11.1 Hewlett Packard Enterprise
11.1.1 Company Overview
11.1.2 Financial
11.1.3 Products/ Services Offered
11.1.4 SWOT Analysis
11.2 Intel Corp.
11.2.1 Company Overview
11.2.2 Financial
11.2.3 Products/ Services Offered
11.2.4 SWOT Analysis
11.3 Brain chip Holdings Ltd.
11.3.1 Company Overview
11.3.2 Financial
11.3.3 Products/ Services Offered
11.3.4 SWOT Analysis
11.4 IBM
11.4.1 Company Overview
11.4.2 Financial
11.4.3 Products/ Services Offered
11.4.4 SWOT Analysis
11.5 Innatera
11.5.1 Company Overview
11.5.2 Financial
11.5.3 Products/ Services Offered
11.5.4 SWOT Analysis
11.6 Koniku
11.6.1 Company Overview
11.6.2 Financial
11.6.3 Products/ Services Offered
11.6.4 SWOT Analysis
12. Use Cases and Best Practices
13. Conclusion
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