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Global Neuromorphic Computing Market: By Component: Hardware, Software; By Application; By End Use: Consumer Electronics, Automotive, Healthcare, Military and Defence, Others; Regional Analysis; Historical Market and Forecast (2016-2026); Value Chain Analysis; Competitive Landscape; Industry Events and Developments

Global Neuromorphic Computing Market Outlook

The global neuromorphic computing market is expected to grow in the forecast period of 2021-2026 at a CAGR of 20% to reach nearly USD 8.02 billion by 2026.

 

Global Neuromorphic Computing Market

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Increasing Automation Systems Boosting the Growth of Neuromorphic Industry

The increasing demand for autonomous systems, which are capable of making a suitable decision, is aiding the neuromorphic computing industry. Neuromorphic computing systems need lower power consumption while supporting dynamic learning of complex and unstructured data. Moreover, neuromorphic computing is used to analyse the data produced from climate models, predict maintenance needs for accelerator magnets, and recognising features in large-scale cosmology data. The rising demand for artificial intelligence in nonlinear control and robotics, language processing, image processing, and computer vision, among others, is also contributing to the market growth for neuromorphic computing.

The increasing demand for data and data analytics, miniaturisation of sensors, and cost-effectiveness are further accelerating the market growth. Moreover, neuromorphic computing is increasingly used in the military to collect and process large-sized data efficiently. It is further applicable for the development of cognitive communication system and image processing of unmanned vehicles. Regionally, North America holds the major share of the market for neuromorphic computing owing to the dominant presence of the leading companies and the various initiatives undertaken by them to promote its use in large-scale applications like data centres and server, among others. The Asia Pacific region is expected to witness robust growth due to the rising automated services and increasing technological advancements in countries such as South Korea and Japan, consequently contributing to the overall growth of the market.

 

Neuromorphic Computing: Industry Definition and Segmentation

Neuromorphic computing, variously known as neuromorphic engineering, is the use of very large scale integration systems containing electronic analogue circuits to model the neuro-biological architects present in the human nervous system. It applies the functionality of a brain to generic cognitive computing and has various advantages, such as energy efficiency and high execution speed.

 

Global Neuromorphic Computing Market By Application

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The major components of neuromorphic computing are:

  • Hardware
  • Software

The market can be broadly categorised on the basis of its applications into:

  • Signal Processing
  • Image Processing
  • Data Processing
  • Object Detection
  • Others

Based on the end use, the market is divided into:

  • Consumer Electronics
  • Automotive
  • Healthcare
  • Military and Defence
  • Others

The EMR report looks into the regional markets of neuromorphic computing like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Neuromorphic Computing Market By Region

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Rising Technological Advancement to Bolster the Growth of Neuromorphic Computing Industry

Various technological advancements such as edge computing and the Internet of things (IoT) are increasingly used in several industries and businesses. With the increasing digitisation, technologies such as drones, smart healthcare, smart cities, and autonomous cars are becoming more prevalent and hence are increasing the demand for neuromorphic computing chips, which can combat the challenge of increasing data and processing.  Moreover, increasing research and development (R&D) in the field of both neurology and computing are expected to aid the market growth. The development of neuromorphic chips which functions like a human brain by using artificial neurons is further propelling the market growth. Additionally, neuromorphic computing can create cognitive computing and systems which can reason or learn like a human.

Neuromorphic computing can further improve therapeutic procedures, develop more precise medical imaging, enhance surveillance, improve data mining and pattern recognition systems, and assist in military and security issue which is expected to augment the industry growth in the forecast period. The use of neuromorphic computing in automated vehicles can reduce latency, increase energy costs, and increase the autonomy of the vehicle while improving cybersecurity, consequently lubricating the market growth. The increasing research for neuromorphic computing to improve machine learning, remote sensing, and intelligence analysis is further driving the market. In addition, favourable government schemes and investments are also fuelling the market growth. For example, the U.S. Department of Energy (DOE) announced $2million in funding for five projects in basic research to advance neuromorphic computing in September 2020.

 

Key Industry Players in the Global Neuromorphic Computing Market

The report presents a detailed analysis of the following key players in the global neuromorphic computing market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Intel Corporation
  • BrainChip Holdings Ltd
  • General Vision Inc.
  • IBM Corporation
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Neuromorphic Computing Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Neuromorphic Computing Historical Market (2016-2020) 
    8.3    Global Neuromorphic Computing Market Forecast (2021-2026)
    8.4    Global Neuromorphic Computing Market by Component
        8.4.1    Hardware
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Software
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
    8.5    Global Neuromorphic Computing Market by Application
        8.5.1    Signal Processing
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Image Processing
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
        8.5.3    Data Processing
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2016-2020)
            8.5.3.3    Forecast Trend (2021-2026)
        8.5.4    Object Detection
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2016-2020)
            8.5.4.3    Forecast Trend (2021-2026)
        8.5.5    Others
    8.6    Global Neuromorphic Computing Market by End Use
        8.6.1    Consumer Electronics
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Automotive
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
        8.6.3    Healthcare
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2016-2020)
            8.6.3.3    Forecast Trend (2021-2026)
        8.6.4    Military and Defence
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2016-2020)
            8.6.4.3    Forecast Trend (2021-2026)
        8.6.5    Others
    8.7    Global Neuromorphic Computing Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    Intel Corporation
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    BrainChip Holdings Ltd.
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    General Vision Inc.
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    IBM Corporation
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Others
13    Industry Events and Developments


List of Figures and Tables

1.    Global Neuromorphic Computing Market: Key Industry Highlights, 2016 and 2026
2.    Global Neuromorphic Computing Historical Market: Breakup by Component (USD Billion), 2016-2020
3.    Global Neuromorphic Computing Market Forecast: Breakup by Component (USD Billion), 2021-2026
4.    Global Neuromorphic Computing Historical Market: Breakup by Application (USD Billion), 2016-2020
5.    Global Neuromorphic Computing Market Forecast: Breakup by Application (USD Billion), 2021-2026
6.    Global Neuromorphic Computing Historical Market: Breakup by End Use (USD Billion), 2016-2020
7.    Global Neuromorphic Computing Market Forecast: Breakup by End Use (USD Billion), 2021-2026
8.    Global Neuromorphic Computing Historical Market: Breakup by Region (USD Billion), 2016-2020
9.    Global Neuromorphic Computing Market Forecast: Breakup by Region (USD Billion), 2021-2026
10.    North America Neuromorphic Computing Historical Market: Breakup by Country (USD Billion), 2016-2020
11.    North America Neuromorphic Computing Market Forecast: Breakup by Country (USD Billion), 2021-2026
12.    Europe Neuromorphic Computing Historical Market: Breakup by Country (USD Billion), 2016-2020
13.    Europe Neuromorphic Computing Market Forecast: Breakup by Country (USD Billion), 2021-2026
14.    Asia Pacific Neuromorphic Computing Historical Market: Breakup by Country (USD Billion), 2016-2020
15.    Asia Pacific Neuromorphic Computing Market Forecast: Breakup by Country (USD Billion), 2021-2026
16.    Latin America Neuromorphic Computing Historical Market: Breakup by Country (USD Billion), 2016-2020
17.    Latin America Neuromorphic Computing Market Forecast: Breakup by Country (USD Billion), 2021-2026
18.    Middle East and Africa Neuromorphic Computing Historical Market: Breakup by Country (USD Billion), 2016-2020
19.    Middle East and Africa Neuromorphic Computing Market Forecast: Breakup by Country (USD Billion), 2021-2026
20.    Global Neuromorphic Computing Market Structure

Key Questions Answered in the Report

The global neuromorphic computing market is projected to grow at a CAGR of 20% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach nearly USD 8.02 billion by 2026.

The market is being aided by the rapid urbanisation, increasing demand for automated system in industries, and the use of neuromorphic computing in military services.

The market is driven by the growing technological advancements and the increasing demand for efficient data storing and processing.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with North America accounting for the largest share in the market.

The major components of neuromorphic computing in the industry are hardware and software.

The significant applications of neuromorphic computing in the market are signal processing, image processing, data processing, and object detection, among others.

The major end uses of neuromorphic computing in the industry are consumer electronics, automotive, healthcare, and military and defence, among others.

The major players in the industry are Intel Corporation, BrainChip Holdings Ltd, General Vision Inc., and IBM Corporation, among others.

Analyst Review

The global neuromorphic computing market is driven by the rising demand for automated systems in industries. Aided by the growing technological advancements, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 20%. The market is projected to reach nearly USD 8.02 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its components, the neuromorphic computing industry can be segmented into software and hardware. On the basis of applications, the industry is divided into signal processing, image processing, data processing, and object detection, among others. Based on the end use, the market is segmented into consumer electronics, automotive, healthcare, and military and defence, among others. The major regional markets for neuromorphic computing are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America accounting for the largest share of the market. The key players in the above market include Intel Corporation, BrainChip Holdings Ltd, General Vision Inc., and IBM Corporation, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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