According to IMARC Group latest report titled” Neuromorphic Chip Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the market reached a value of US$ 2.1 Billion in 2021. The global neuromorphic chip market share to grow at a CAGR of 24.1% during 2022-2027. A neuromorphic chip refers to an application-specific integrated circuit (ASIC) microchip that is designed to mimic the functions of the human brain and nervous system. It involves the utilization of very-large-scale-integrated (VLSI) systems and software solutions to imitate the human way of recognizing and thinking. Neuromorphic chips are equipped with neurons and artificial synapses, which are manufactured using silicon that helps the system to process like a human brain. They find wide-ranging applications in robotics and neuroscience research.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The expanding information technology (IT) industry is one of the key factors driving the neuromorphic chip market. Additionally, the rising requirement for testing and transmitting signals securely is further catalyzing the market growth. Besides this, the growing adoption of neuromorphic chip-based computing systems to produce antibodies quickly and accurately, on account of the sudden outbreak of the COVID-19 pandemic, is acting as another significant growth-inducing factor. Moreover, the inflating utilization of artificial intelligence (AI)-powered neuromorphic chips in the production of premium cars to build level 5 vehicle models is also augmenting the global market. Apart from this, the emerging trend of product miniaturization, so that it can be used in small and portable AI devices, is positively influencing the market growth. Furthermore, the elevating demand for enhanced integrated circuits (ICs) is anticipated to fuel the neuromorphic chip market over the forecasted period.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Brain Research Inc.
- BrainChip Holdings Ltd.
- General Vision Inc.
- GrAI Matter Labs
- Hewlett Packard Enterprise Development LP
- HRL Laboratories LLC
- Intel Corporation
- International Business Machines Corporation
- Qualcomm Technologies Inc.
- Samsung Electronics Co. Ltd
- SK hynix Inc
Neuromorphic Chip Market Segmentation:
Our report has categorized the market based on region, offering, application and end use industry.
Breakup by Offering:
Breakup by Application:
- Image Recognition
- Signal Recognition
- Data Mining
Breakup by End Use Industry:
- Aerospace and Defense
- IT and Telecom
- Consumer Electronics
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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