The Neuromorphic Chips market is estimated to reach $300m by 2023, majorly driven by the growing demand for artificial intelligence (AI) technology in end-user industries, and emerging applications in the automation sector. Other factors responsible for the growth of the Neuromorphic Chips market include the enormous demand for Artificial intelligence chips, and the vanishing of Moore’s Law.
What are Neuromorphic Chips?
Neuromorphic Chips combined with AI are alternatives to traditional chips. These chips increase the efficiency and speed and are even driven, that is, these chips only operate when required, thereby resulting in cooling of chips, and simultaneously, low power requirement.
This report gives an in-depth analysis of the market by class, type, application, end-user industry and geography. By class, the market has been segmented into Artificial Neural Networks and Biology-based Learning Models. By type, the market has been segmented into Hardware and Software. Neuromorphic Chips have various applications in visual processing, signal recognition, data mining, among others. The market has been further segmented based on end-user industries, including automotive, aerospace and defense, industrial, and many more.
What are the major applications of Neuromorphic Chips?
Neuromorphic Chips have various applications in image recognition, signal recognition, and so on. Image recognition is expected to be one of the leading application segments for the Neuromorphic Chips market. The healthcare sector is expected to utilize Neuromorphic chips for offering initial warning of diseases, providing practices for treatments, and many more. The industrial sector is set to take maximum advantage of Neuromorphic chips in bottle filling level inspection, glass surface defect detection, and so on.
With respect to region, the Americas is expected to lead the Neuromorphic Chips market. This is due to the region’s early adoption of new technologies, and the presence of key players.
Market Research and Market Trends of the Neuromorphic Chips Market
- The growing consumer demand for smaller effective devices is driving the consumer electronics industry. Neuromorphic computing is also beneficial in casino gaming applications. BrainChip Holdings’ partnership with Gaming Partners International and SNTech is also expected to drive the Neuromorphic Chips market.
- The involvement of leading universities, such as Massachusetts Institute of Technology (MIT), and governmental agencies, such as the U.S. Department of Defense, in the field of neuromorphic chips is set to drive the Neuromorphic Chips market.
- The Americas region is set to lead the Neuromorphic Chips market. Diverse start-up companies are emerging in the Americas to exploit the benefits of Neuromorphic chips in the machine learning application domain.
- More companies across the globe are investing in AI technology, fueled by the growth of Internet of Things (IoT) and Data Analytics in everyday life. The Chinese government, in particular, is significantly pursuing AI technology, thus offering huge opportunities for the Neuromorphic Chips market in Asia-Pacific.
Who are the Major Players of the Neuromorphic Chips Market?
The companies referred to in the market research report include IBM, Qualcomm, Intel Technology, and many more.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.