Austin, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Market Size & Growth Insights:
According to the SNS Insider, “The Neural Processor Market Size was valued at USD 231.8 million in 2023 and is projected to grow at an impressive CAGR of 18.73%, reaching USD 1085.1 million by 2032.”
The neural processor market is experiencing significant growth due to the increasing popularity of artificial intelligence (AI) and machine learning (ML) across different industries. One of the main reasons for this growth is the incorporation of AI in consumer electronic devices, particularly in smartphones. By 2023, more than 90% of smartphones had AI features, while premium models had NPUs for facial recognition, virtual assistants, and improved camera features. Qualcomm and other companies have incorporated NPUs into top-of-the-line devices, underscoring the significance of this technology in the consumer market. The increase in autonomous vehicles is also driving the use of NPUs for instant object detection and decision-making. For example, Tesla's FSD computers utilize neural processors that can perform 72 trillion operations per second, allowing for sophisticated decision-making capabilities. NPUs are changing the way AI workloads are managed in data centers. One example is Google's use of Tensor Processing Units (TPUs) in their data centers to optimize AI functions in Google Search, Photos, and Translate, handling more than 1 billion photos every day with enhanced speed and effectiveness.
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Leading Market Players with their Product Listed in this Report are:
- NVIDIA Corporation - Tesla GPUs
- Intel Corporation - Xeon Scalable Processors
- Google LLC - Tensor Processing Units (TPUs)
- Amazon Web Services, Inc. - Graviton Processors
- Qualcomm Incorporated - Snapdragon Processors
- IBM Corporation - IBM POWER Processors
- Microsoft Corporation - Azure Sphere
- AMD (Advanced Micro Devices, Inc.) - EPYC Processors
- Graphcore Limited - Intelligence Processing Unit (IPU)
- Apple Inc. - Apple M1 Chip
- Baidu, Inc. - Kunlun AI Chip
- Huawei Technologies Co., Ltd. - Ascend AI Processors
- Micron Technology, Inc. - GDDR6 Memory
- Xilinx, Inc. - Versal ACAP
- Arm Holdings Limited - Cortex-A Series Processors
- Synaptics Incorporated - ClearView AI Processors
- Tenstorrent Inc. - Grayskull AI Processor
- MediaTek Inc. - Dimensity Processors
- Marvell Technology Group Ltd. - ThunderX Processors
- Achronix Semiconductor Corporation - Speedster FPGAs
Neural Processor Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 231.8 million |
| Market Size by 2032 | USD 1085.1 million |
| CAGR | CAGR of 18.73% From 2024 to 2032 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Operation (Training, Inference) • By Application (Smartphones and Tablets, Autonomous Vehicles, Robotics and Drones, Healthcare and Medical Devices, Smart Home Devices and IoT, Cloud and Data Center AI, Industrial Automation and Others) |
| Key Drivers | • Increased demand for intelligent automation in robotics, relying on neural processors for complex tasks and data processing. • Growing adoption of neural processors in data centers enhances AI workload efficiency and supports large-scale AI applications like Google Search and Photos. |
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“Segment Analysis: Driving Factors and Emerging Trends”
By Operation: The inference segment led the market with a 66.7% share in 2023, driven by the demand for real-time AI-driven decision-making. Inference operations utilize trained AI models to analyze new data and produce immediate responses, enabling applications such as speech and facial recognition. Neural processors excel at inference tasks by offering enhanced performance and lower power consumption, making them ideal for a wide range of industries utilizing AI technology.
By Application: In 2023, the smartphones and tablets segment held the largest market share, reflecting the rapidly increasing integration of NPUs in consumer devices. Neural processors boost the efficiency of tasks like facial recognition, real-time translation, and enhanced photography. The growth of AI applications, including augmented reality, has led manufacturers to integrate NPUs, making smartphones and tablets a dominant force in the neural processor market.
"Navigating Regional Variations: Key Drivers and Challenges in Market Expansion"
North America led the market with a 33.2% market share in 2023 due to the demand for advanced AI applications. This growth is supported by the rise in edge computing and cloud services, which fuel the use of NPUs in industries like healthcare, automotive, and finance. Companies in the U.S. are investing heavily in NPU research, resulting in improved computational power and energy efficiency for applications in IoT and smart devices.
Asia-Pacific is going to become the fastest-growing region from 2024 to 2032, driven by the expansion of consumer electronics and AI technologies in countries like China, Japan, and South Korea. Many local manufacturers are embedding neural processors in various consumer electronics, including smartphones and IoT devices. Companies such as Samsung and Huawei lead the market by integrating NPUs into their flagship products, spurring growth across the region.
Recent Developments in the Neural Processor Market
October 2024 - Qualcomm unveiled its next-gen Snapdragon processor with enhanced NPU features for AI tasks.
October 2023 - Apple launched its M3 chip with an upgraded neural engine, boosting processing speeds for AI applications.
February 2024 - Intel and Nvidia have unveiled chips targeted towards business computers where artificial intelligence will become standard.
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Future Trends in the Neural Processor Market
- Increased AI Integration: As AI becomes more embedded in consumer electronics, automotive systems, and industrial automation, the demand for NPUs will rise. These processors will play a pivotal role in enabling smarter, faster, and more efficient AI-driven devices.
- Advancements in Autonomous Systems: The push for fully autonomous vehicles and robotics will drive significant demand for more powerful neural processors capable of real-time decision-making and complex data analysis.
- AI Edge Computing: As the need for localized data processing increases, edge devices will rely more on NPUs for faster and more efficient AI operations, reducing latency and enhancing user experience.
- Energy-Efficient Processing: There will be a growing emphasis on developing NPUs that offer higher computational power while consuming less energy, catering to the rising demand for sustainable technology solutions.
Table of Contents - Major Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Adoption Rates of Emerging Technologies
5.2 Network Infrastructure Expansion, by Region
5.3 Cybersecurity Incidents, by Region (2020-2023)
5.4 Cloud Services Usage, by Region
6. Competitive Landscape
7. Neural Processor Market Segmentation, by Operation
8. Neural Processor Market Segmentation, by Application
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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