Neuromorphic Chip Market Soars: A 20.7% CAGR Projection Leading to US$ 10,810 Mn by 2026 (Computers - Information Technologies)

Item ID 132948654 in Category: Computers - Information Technologies

Neuromorphic Chip Market Soars: A 20.7% CAGR Projection Leading to US$ 10,810 Mn by 2026

The Neuromorphic Chip Market is expected to develop at an impressive CAGR of 20.7% from 2016 to 2026, generating a revenue potential of US$ 10,810 million. In 2015, the market was estimated to be worth US$ 1,420 million.

The development of neuromorphic processor technology is being propelled by the prospect of significant increases in processing speed, operational capability, and improved suitability for artificial intelligence applications.

The global market for neuromorphic chips is anticipated to be driven in the upcoming years by the enormous increase of these chips’ potential applications in sectors including machine learning, automotive, aerospace, and defence and military.

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In terms of incremental potential across the various geographical markets evaluated, the North American market is predicted to grow to be the most profitable over the course of the report’s prediction period. Due to the region’s thriving consumer electronics, aerospace, and automotive industries, growth opportunities are numerous. The region also boasts some of the world’s leading chipmakers and IT companies, making it the centre for technological advancements in the field of neuromorphic chips.

According to the analysis, the North American neuromorphic chip market will grow at a remarkable 19.7% CAGR from 2016 to 2026, creating a new opportunity worth US$2,300 million. If the projections are accurate, the market’s value will increase from US$400 million in 2015 to US$2,700 million by the end of 2026. To increase production and operational efficiency, several companies in the area are supporting the fusion of cutting-edge, new technology like neuromorphic processors with already-existing ones.

In the realm of unmanned drones, neuromorphic processors are being used in one of the most inventive ways. Drones are being evaluated for their ability to recognise any specific place they have previously visited by storing and retrieving information via neuromorphic chips.

The report divides the global market for neuromorphic chips into three application categories: signal recognition, data mining, and picture recognition. Aerospace and defence, automotive, healthcare, consumer electronics, and industrial are the main end-use sectors for neuromorphic devices that are addressed in the paper.

In the coming years, demand is anticipated to be encouraging across all of these end-use industries, with the automotive, defence, and aerospace sectors anticipated to continue leading the way in terms of neuromorphic chip adoption. In the automotive sector, neuromorphic processors in combination with signal processing technology may aid drivers in better comprehending their immediate environment and assisting them in making better decisions.

Over the course of the report’s projection period, other industries are predicted to aid the market’s growth at a promising rate by providing neuromorphic chips with additional growth prospects. The vendor landscape has begun to swell, and businesses have begun putting more of focus on strategic collaborations in order to solidify their position in the market and take advantage of emerging opportunities. IBM Corporation, Hewlett Packard Labs, HRL Laboratories, LLC, General Vision, and Intel Corporation are a few of the industry leaders at the moment.

Leading market players are planning to dominate the global and regional markets through new strategic tie-ups and innovations

IBM was awarded 7,355 patents in the US in 2015, putting it in the leading position for the 23rd consecutive year
Intel Corporation invested US$ 12.1 Bn in R&D in 2015. Such high R&D investments allow the company to develop leading proprietary technologies and attain a strong leadership position.

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Last Update : Mar 04, 2024 9:11 AM
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Item  Owner  : Sudip Saha is the managing director and co-founder at Future Market Insights
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2024-05-26 (0.432 sec)