Neuromorphic Chip Market Analysis
Market Research Future (MRFR) projects the global neuromorphic chip market size to reach USD 1,560.3 million, registering a CAGR of 11.7% from 2020–2026 (forecast period).
Increasing Demand for
Artificial Intelligence and Machine Learning
The increasing number of
machine-to-machine connections, as well as the increasing penetration of
artificial intelligence, are pushing the demand for more edge solutions based
on neuromorphic computing. Artificial intelligence (AI) has uses in a variety
of industries, including medical, media, entertainment, telecommunications,
utilities, aerospace, military, consumer devices, food and beverage, and
piping. Smart decisions will be driven by a combination of AI technologies and
machine learning in commercial environments. Image classification,
question-answering medical diagnostics systems, language translation, fraud
detection, credit scoring, speech recognition, and self-driving automobiles
would all benefit from such systems.
The Worldwide Market to Grow
Amid COVID-19 Pandemic
The COVID-19 crisis has hampered
the expansion of the neuromorphic computing sector in a number of industries
throughout the world. In 2020, neuromorphic chips were used in medical devices
for the first time. Watson, an analytical tool developed by IBM Corp. (US) that
functions similarly to a human analytical system, is set to be integrated with
neuromorphic chips and used for medical imaging analytics. This is projected to
fuel the expansion of the medical industry market. With work from home (WFH)
becoming the new trend as a result of the pandemic, there is a boost in supply
and demand for IT peripherals, which is supporting the expansion of the
neuromorphic computing market in the IT & telecommunications vertical.
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Neuromorphic Chip Market Segmentation
The worldwide neuromorphic chip
market has been segmented based on application and vertical.
By application, the worldwide
neuromorphic chip market has been segmented into image recognition, signal
recognition, data mining.
By vertical, the worldwide
neuromorphic chip market has been segmented into aerospace & defense, IT
&telecom, automotive, medical, industrial, others.
Neuromorphic Chip Market Regional
Analysis
North America to Lead the
Global Market
North America led the worldwide
market in 2019 and is likely to continue to do so throughout the forecast
period. The widespread recognition of the benefits of neuromorphic computing in
industries such as aerospace, military & defense, and medical is a primary
driver of this region's dominance. The United States is driving market growth
in North America as the major adopter of artificial intelligence for machine
learning, image processing, natural language processing (NLP), and speech
recognition across industries such as medical and automotive.
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Neuromorphic Chip Market Key
Players
MRFR recognizes the main
participants in the global neuromorphic chip market. These include Hewlett
Packard Enterprise, Samsung Electronics Limited, Intel Corp., HRL Laboratories,
LLC, General Vision Inc., Applied Brain Research, Inc., Brainchip Holdings
Ltd., aiCTX AG, Qualcomm, IBM, Nepes Corp., Innatera, MemComputing, INSTAR
Robotics, Ceryx Medical, and Koniku.
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Neuromorphic Chip Industry
News
In February 2021, Brain Chip Inc.
and NaNose Medical successfully detected COVID-19 in exhaled breath utilizing
Brain Chip's Akida AI chip perfect in their hand-held diagnostic testing
device. NaNose Medical collected samples from 130 patients and submitted
nanomaterial sensor data to Brain Chip's Research Institute in Perth, Western
Australia, where its Akidaneuromorphic processor was configured and trained to
understand the data using AI/ML. The system recognized COVID-19 instances in a
disease group and a healthy control group, and Akida trained to identify
patterns of VOC biomarkers associated with an infection in seconds with high
accuracy and in a short time frame.
1.
Executive Summary
2. Scope Of
The Report
2.1. Market
Definition
2.2. Scope
Of The Study
2.2.1.
Research Objectives
2.2.2. Assumptions
& Limitations
2.3. Market
Structure
3. Market
Research Methodology
3.1.
Research Process
3.2.
Secondary Research
3.3.
Primary Research
3.4.
Forecast Model
4. Market
Landscape
4.1.
Porter’s Five Forces Analysis
4.1.1.
Threat Of New Entrants
4.1.2.
Bargaining Power Of Buyers
4.1.3.
Threat Of Substitutes
4.1.4.
Intensity Of Rivalry
4.1.5.
Bargaining Power Of Suppliers
4.2. Value Chain/Supply Chain Of The Global Neuromorphic Chip Market
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