Neuromorphic Chip Market Worth USD 1,560.3 Million by 2026, Registering a CAGR of 11.7% - Report by Market Research Future (MRFR)


New York, US, June 21, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Neuromorphic Chip Market information by Application, Vertical and Region - Forecast till 2026” market is estimated to reach USD 1,560.3 Million by 2026, registering a CAGR of 11.7%.

Market Scope:
With rising investments by major OEMs, the market is projected to witness significant gains in the years to come. Increasing adoption of neuromorphic computing platforms across the verticals to increase speed, performance, and scalability pushes market growth.

Neuromorphic chips can detect high-frequency oscillations, which can bridge the gap between artificial and natural intelligence. Neuromorphic engineering approach is extensively used to recognize complex biosignals reliably and accurately. Neuromorphic chip technology is applied to successfully detect previously recorded high-frequency oscillations (HFOs) using an intracranial electroencephalogram (iEEG). They have proven to be promising biomarkers for identifying the brain tissue that causes epileptic seizures.

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Dominant Key Players on Neuromorphic Chip market covered are:

  • Samsung Electronics Limited
  • Hewlett Packard Enterprise
  • Intel Corp.
  • General Vision Inc.
  • HRL Laboratories
  • LLC
  • Applied Brain Research Inc.
  • aiCTX AG
  • Brainchip Holdings Ltd.
  • Qualcomm
  • Nepes Corp.
  • IBM
  • Innatera
  • INSTAR Robotics
  • MemComputing
  • Koniku
  • Ceryx Medical

Browse In-depth Market Research Report (100 Pages) on Neuromorphic Chip: 
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Market USP exclusively encompassed:
Market Drivers
AI and neuromorphic chips imitate and sometimes even outperform human intelligence. Yet, both technological approaches are limited by the hardware capabilities on which these systems function. Neuromorphic architectures demonstrate the huge potential for deploying machine learning algorithms in the future. The approach promises to enhance the overall learning performance for specific tasks and develop algorithms that can learn in real-time, just as biological brains.

Machine learning capabilities would further drive the interest in neuromorphic computing. The technology would also deliver a powerful method of creating futuristic Chip hardware and revolutionary AI software. Neuromorphic chips promise many advantages. However, many ethical considerations around its usage impede the market growth, restricting the adoption of these chips. One of the most significant ethical challenges is public perception.

Segmentation of Market covered in the research:
The neuromorphic chip market forecast is segmented into applications, verticals, and regions. The application segment is sub-segmented into image recognition, signal recognition, data mining, and others.

The Vertical segment is sub-segmented into aerospace & defense, IT &telecom, automotive, medical, industrial, and others. The region segment is sub-segmented into North America, Europe, Asia-Pacific, and rest-of-the-world.

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Regional Segmentation
North America dominates the global neuromorphic chip market. The strong presence of major technology providers, such as Intel Corporation and IBM Corporation, positively impacts the region’s neuromorphic chip market size.

Europe holds the second-best position globally in terms of neuromorphic chip market revenue. Growing adoption of AI, machine learning, and IoT-based systems and the rising demand for better efficiency and productivity of overall processes are major neuromorphic chip market trends.

The Asia Pacific is witnessing significant growth in the neuromorphic chip market value. The market growth is driven by the increasing adoption of AI, IoT, data analytics, and other technologies & solutions in various industries.

COVID-19 Impacts on the Market
The onset of COVID-19 had a significant impact on the neuromorphic chip industry. The pandemic disturbed the production of several key components and supply chains. Chip manufacturing companies faced problems ranging from obtaining components and delivering end products to attracting workers from quarantines. Besides, strict lockdown mandates restricted cross-border trades, another determinable factor for the neuromorphic chip market growth. This, as a result, spiked the overall prices of neuromorphic chips. However, the neuromorphic chip industry is rapidly getting back to normal, witnessing significant demand for energy in industrial sectors worldwide. The rising need for rapid data processing and big data across verticals created significant market demand. This scenario presents several opportunities for the market players. The market is estimated to grow exponentially further during the assessment period.

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Industry Trends
Rising demand for artificial intelligence and machine learning is predicted to bolster market growth in future years. Additionally, the growing adoption of neuromorphic chips in the automotive, healthcare, aerospace & defense industries boosts the market size. Increasing applications in voice identification, machine vision, and video monitoring influence the market growth.

Moreover, the rapidly growing sensors market, the need for better-performing ICs, and the growing demand for neuromorphic computing are major industry trends defining the growing market landscape. The growing use of software in different applications would offer robust opportunities. The rising adoption of software in applications like data modeling, predictive analysis, real-time data streaming, and constant online learning may offer robust opportunities to market players.

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