Neuromorphic Computing Market Size, Share, Growth Analysis, By Offering (Hardware, Software), By Deployment (Edge Computing, Cloud Computing), By Application (Image Recognition, Signal Recognition), By Region -Industry Forecast 2024-2031
Report ID:
SQMIG45F2158 |
Region:
Global |
Published Date: November, 2024
Pages:
173
|Tables:
0
|Figures:
0
Neuromorphic Computing Market Insights
Global Neuromorphic Computing Market size was valued at USD 7.92 Billion in 2022 poised to grow from USD 15.02 Billion in 2023 to USD 2,519.51 Billion by 2031, growing at a CAGR of 89.7% in the forecast period (2024-2031).
Through enhanced information processing and due to the development of technology like artificial intelligence and machine learning, computing has also reached a higher level with respect to size and ability. One of the most paramount elements of neuromorphic computing is its mobile architecture. Unlike traditional computers, which once took up a huge space to use, neuromorphic computers are small and easy to carry around. In terms of space occupancy, they are very effective and don't take up much room. Therefore, the global neuromorphic computing market is expected to develop as a result of this. The size of the global market for neuromorphic computing is expected to increase significantly over the course of the projected period.
The global neuromorphic computing market is growing due to a few factors, including the increased need for machine learning and artificial intelligence technologies, the high software utilization in this field, and the growing need for better performing integrated circuits (ICs). In order to enhance efficiency and improve the quality of end products, companies need to incorporate AI and Machine Learning components in their processes. Due to factors such as increasing consumption of AI and ML in the different sectors such as media and entertainment, consumer electronics, aerospace, utilities, food & beverage, and military, the demand is rising. These sectors frequently face challenges that neuromorphic computing can effectively address.
Market Snapshot - (2024-2031)
Global Market Size
Largest Segment
Fastest Growth
Growth Rate
CAGR
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Neuromorphic Computing Market Segmental Analysis
The global neuromorphic computing market is segmented based on offering, deployment, application, and region. In terms of offering, the market is bifurcated into hardware and software. Based on deployment, the market is divided into edge computing and cloud computing. Based on the application, the market is grouped into image recognition, signal recognition, data mining, and others. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Central & South America and the Middle East & Africa.
Analysis by Offering
As per categorization by offering, the market is classified as hardware and software. Among these, hardware earned the largest share and continues to hold the dominant global neuromorphic computing market share. The global neuromorphic computing market is facing a lot of growth in the hardware component as there is a demand for more power-efficient hardware in several AI applications such as robotics, autonomous driving, and the Internet of Things (IoT) devices. Due to their function of emulating the working of the human brain and allowing faster data processing with lower energy, neuromorphic chips, and other hardware make the larger part of the market. This orientation towards hardware is fundamental in the advancement of artificial intelligence that needs real-time decision making, which is where the commercial interest and uptake of neuromorphic computing lies.
The software segment of the global neuromorphic computing market is anticipated to grow at a rapid rate in the near future as the software is necessary for fully utilizing the characteristics of the neuromorphic hardware. Software frameworks, algorithms, and development tools help develop effective methods of using neuromorphic hardware for AI, machine learning, and sensory processing solutions where the hardware is optimized for various complex applications. With the growing popularity of neuromorphic systems in healthcare, automotive, robotics and other sectors, the need for efficient, adaptable and solid software that operates and improves these systems has grown even more. On top of that, the rushed software advancement in this market can be attributed to the need for tailored, flexible software that will allow for the neural networks to be modeled and large, intricate timelines to be processed in real time.
Analysis by Deployment
Edge computing is transforming the global neuromorphic computing market by enabling data processing closer to the source, crucial for applications demanding real-time analysis and minimal latency. Neuromorphic edge devices including sensors and chips are capable of processing large volumes of data quite efficiently at the data source thus minimizing the need for a central cloud service. This approach enhances responsiveness and privacy for AI-driven applications in fields like autonomous driving, robotics, and IoT. Edge computing’s dominance in neuromorphic computing stems from its ability to process vast, continuous data streams with low power, which aligns perfectly with the low-latency and power-efficient demands of neuromorphic architectures, making it a natural fit for decentralized AI solutions.
Cloud computing is set to be a rapidly growing segment in the global neuromorphic computing market due to its scalability, accessibility, and capacity to handle immense data volumes. Systems storing data over the internet with the purpose of computing also called neuromorphic systems are helping researchers and businesses execute very complicated and resource-heavy simulations of artificial neural networks without having to own and maintain expensive compute hardware in-house. This opens the door to neuromorphic computing, giving rise to further experimentation and development in the various industries such as healthcare, finance, and construction and others. In addition, these trends have encouraged cloud providers to incorporate more and more AI-optimized infrastructures for supporting neuromorphic workloads, which appeal to those companies in need of affordable, easy to scale, and easy to deploy solutions. Therefore, this makes cloud computing multitudes better in terms of enabling the growth of neuromorphic practices and innovations across the world.
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Neuromorphic Computing Market Regional Insights
North America leads the global neuromorphic computing market, driven by significant investments in AI research, advanced computing, and semiconductor development. In the United States, active participation from key stakeholders, such as major corporations and defense departments, in turn enhances the neuromorphic activity that promotes technological improvements. As a result, there is an uptick in the global neuromorphic computing market growth owing to the increased appetite in healthcare, automotive, and defense capabilities for advanced, low powered AI technology. Furthermore, the presence of policies and support for development of AI technology also makes North America a strategic center for the growth of neuromorphic technology. These factors, along with high availability of research centers and skilled labor, explain why America leads in the neuromorphic computing sector.
Europe is the fastest-growing region in the global neuromorphic computing market, driven by increasing investments in AI, sustainable tech initiatives, and collaborative research programs. There is a solid reinforcement of policies towards AI and semiconductors within the European Union, with specific budgets allocated for neuromorphic endeavors such as Horizon Europe. Low power consuming architecture of neuromorphic computing is in line with the region’s emphasis on Caste medicines and energy consumption technology which has attracted many industries such as automotive, robotics and healthcare among others. Major technology and research firms in nations such as Germany, France, and the United Kingdom are already developing applications of neuromorphic, thereby making the region one of the most dynamic in terms of growth and utilization of neuromorphic engineering.
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Neuromorphic Computing Market Dynamics
Drivers
Demand for Energy-Efficient AI Solutions
- The primary driver for the growth of the global neuromorphic computing market is the increasing need for energy efficient computing paradigms. Neuromorphic systems, which mimic the low-power processing associated with the brain, have been developed to resolve the energy limitations of mechanical intelligence solutions including robots and self-driving vehicles, since conventional hardware cannot afford the high-power consumption dynamics and real-time response of such AI technologies.
Enhancing Real-Time Data Processing
- AI and machine learning have developed well for years now proven by their applications in most if not all industries. Neuromorphic computing’s distinct architecture enables complex high-speed data analysis, and the decision-making processes required in real-time applications for example of medicine, security, and the Internet of things (IoT). With more sectors embracing Artificial intelligence, the supply of neuro-morphic processors has also risen to increase computing performance and lower the processing turn-around time.
Restraints
Challenge of Standardization & Development Hurdles
- Lack of standardized programming frameworks and tools for neuromorphic systems. Neuromorphic computing necessitates employing specific programming paradigms that are not orthodox, posing a challenge to programmers used to more traditional architectures. The absence of such tools slows down the pace of development and integration, which in turn limits adoption across the sectors and applications.
Limited Awareness for Industry Adoption
- The fact that end-users have limited awareness and understanding of neuromorphic computing is one of the key factors restraining market growth. A number of sectors are not yet aware of the advantages and possible uses of neuromorphic technology resulting in the reluctance to adopt it. This gap laps that causes this sector's market potential to grow is the reason some companies may choose to use proven AI products.
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Neuromorphic Computing Market Competitive Landscape
The global neuromorphic computing market has been exhibiting fierce competition that is characterized by continuous developments and collaborations. Major players are concentrating on the innovation of neuromorphic hardware as well as software. Major companies in this market include, but are not limited to, Intel, IBM, Qualcomm, and BrainChip all of whom are actively engaged in the enhancement of neuromorphic technology for purposes of AI, robotics and autonomous systems. These companies are also committing huge resources to research and development aimed at improving the performance and reach of neuromorphic computing technology in order to establish a competitive edge in this fast-evolving technology market.
Top Player’s Company Profiles
- Intel Corporation (USA)
- IBM Corporation (USA)
- Qualcomm Inc. (USA)
- BrainChip Holdings Ltd. (Australia)
- Samsung Electronics Co., Ltd. (South Korea)
- General Vision (USA)
- SpiNNaker (USA)
- Dell Technologies (USA)
- GrAI Matter Labs (France)
- Numenta (USA)
- SynSense (Switzerland)
- Microsoft Corporation (USA)
- Hewlett Packard Enterprise (USA)
- Xilinx Inc. (USA)
- EdgeCortex (China)
Recent Developments
- In October 2024, Intel revealed the possible development of its ti e neuromorphic chip, so-called Loihi 2 - which offers even more energy efficiency and processing power for AI based applications. This chip focused on the imitation of human brain functions even more which will enhance the real-time decision-making processes in autonomous systems and robots.
- In September 2024, IBM unveiled an advanced architecture called the “TrueNorth” platform for neuromorphic computing, which aims at improving the application of Artificial Intelligence in the fields of medicine and security. The architecture employs lightweight brain-like neural networks which help in performing complex tasks without wasting a lot of power in the system, unlike the current AI systems making it very efficient for edge computation.
- In July 2024, BrainChip launched a new version of its Akida neuromorphic processor, focusing on real-time, edge AI applications. This development is set to improve processing speed and reduce latency in sectors like IoT and automotive. The processor’s low power consumption makes it ideal for portable, AI-powered devices.
Neuromorphic Computing Key Market Trends
- Rise of Edge Computing in Neuromorphic Systems: One of the pivotal trends driving the global neuromorphic computing industry is the increasing use of edge computing. More and more neuromorphic systems are being developed and established on the edge, facilitating rapid data processing and real-time decision making in applications such as the Internet of Things (IoT), autonomous cars, and robotics, lowering the response times and increasing the productivity.
- Integration of Neuromorphic Computing with AI and ML: Another key development is the smooth interfacing of neuromorphic machines with artificial intelligence and machine learning. This combination improves the ability to handle large complex datasets efficiently, hence the rise of real-time analytics, predictive analytics and adaptive learning in the fields of health care, security, and autonomous systems.
Neuromorphic Computing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global neuromorphic computing market share is poised for significant growth driven by increasing demand for energy-efficient AI solutions and advancements in real-time data processing. With innovations in hardware and software, as well as the integration of edge computing, neuromorphic systems are finding wide application across industries such as robotics, healthcare, and IoT. Notwithstanding the fact that further market penetration is very much possible, challenges such as standardization and end-users’ lack of awareness need to be tackled. The investments which businesses make in R&D will keep the potential of the market in the innovations of new applications of artificial intelligence rather high, thus inviting propositions for better and more efficient systems.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 7.92 Billion |
| Market size value in 2031 | USD 2,519.51 Billion |
| Growth Rate | 89.7% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Neuromorphic Computing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Neuromorphic Computing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Neuromorphic Computing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Neuromorphic Computing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Neuromorphic Computing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Neuromorphic Computing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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