Neuromorphic Computing Market Forecasts to 2030 - Global Analysis By Component (Neuromorphic Chips, Software, Sensors, Memory, Interfaces and Other Components), Deployment, Technology, Application, End User and By Geography

According to Stratistics MRC, the Global Neuromorphic Computing Market is accounted for $6.3 billion in 2024 and is expected to reach $22.2 billion by 2030 growing at a CAGR of 23.2% during the forecast period. Neuromorphic computing emulates the brain's neural structure to perform complex computations efficiently. Unlike traditional processors, it uses networks of artificial neurons and synapses to process information, enabling tasks such as pattern recognition, decision-making, and learning in a manner inspired by biological systems. This approach offers advantages in speed, energy efficiency, and adaptability, making it suitable for applications like machine learning, robotics, and sensory processing.

According to Cisco Systems, the number of connected wearable devices globally in 2022 reached 1,110 million. Also, in October 2023, Prophesee, a developer of cutting-edge neuromorphic vision systems, unveiled the GenX320 Event-based Metavision sensor.

Market Dynamics:

Driver:

Need for more powerful and efficient AI/ML systems

Neuromorphic computing offers advantages in mimicking brain-like neural networks, enhancing capabilities for processing complex data and performing real-time computations with greater energy efficiency than traditional architectures. As industries seek to leverage AI and machine learning for advanced analytics, pattern recognition, and decision-making, the demand for neuromorphic computing solutions is rising.

Restraint:

Limited software ecosystem

Various applications of neuromorphic computing require specialized software tools and frameworks tailored to their unique requirements, leading to fragmentation and interoperability issues. This limitation restricts the development of comprehensive solutions and slows down the deployment of neuromorphic systems across industries. Moreover, the scarcity of standardized development environments and support services complicates integration with existing infrastructure and hampers scalability.

Opportunity:

Growing demand for brain-inspired computing solutions

Brain-inspired computing solutions solutions, inspired by the brain's neural architecture, offer advantages in energy efficiency, parallel processing, and cognitive capabilities. Industries seeking more powerful AI and machine learning capabilities are increasingly adopting neuromorphic computing for tasks requiring real-time data processing, pattern recognition, and decision-making. As demand rises across sectors such as healthcare, robotics, and IoT, investments in neuromorphic hardware and software continue to grow.

Threat:

Complexity of algorithms and backend operations

Developing and optimizing neural network algorithms for neuromorphic architectures requires specialized expertise and resources, leading to higher development costs and longer deployment times. Additionally, backend operations such as data management, synchronization, and scaling across distributed systems can be intricate and resource-intensive. These complexities hinder seamless integration with existing IT infrastructures and limit accessibility to smaller organizations.

Covid-19 Impact

The COVID-19 pandemic had a favorable influence on the medical business market. Several market leaders, including IBM, Hewlett Packard, and Qualcomm, pushed their neuromorphic computing solutions into several hospitals and clinics worldwide. Their technologies' computational skills were able to reduce various difficulties inside a normal hospital ecosystem. The pandemic kept the capital equipment sector humming with a strong demand for next-generation electronics.

The neuromorphic chips segment is expected to be the largest during the forecast period

The neuromorphic chips is expected to be the largest during the forecast period as these chips enable faster, energy-efficient processing of complex data, enhancing the performance of neuromorphic algorithms and applications. Industries benefit from improved capabilities in AI, machine learning, and sensory processing, driving adoption in sectors like healthcare diagnostics, autonomous systems, and IoT.

The neuromorphic vision systems segment is expected to have the highest CAGR during the forecast period

The neuromorphic vision systems segment is expected to have the highest CAGR during the forecast period as these systems replicate biological visual processing in digital environments, enabling real-time interpretation of visual data with high accuracy and efficiency. Industries such as autonomous vehicles, surveillance, and augmented reality benefit from improved object recognition, scene understanding, and situational awareness. The integration of neuromorphic vision systems with neuromorphic computing platforms enhances overall system performance and efficiency, driving demand for specialized hardware and software solutions.

Region with largest share:

North America is projected to hold the largest market share during the forecast period as early adopters in the North American market, such as the U.S. and Canada, are the frontiers of neuromorphic computing system applications. One of the major trends in the region is AI based voice and speech recognition technology. The integration facilitated fine-tuning its speech recognition engines to provide a better voice experience.

Region with highest CAGR:

Europe is projected to hold the highest CAGR over the forecast period as there are several initiatives and organizations in Europe that are focused on advancing the development and adoption of neuromorphic computing technologies. In addition, the increasing use of biometry in the European countries is catering to a whole new implementation area to the image processing applications of neuromorphic computing. Overall, Europe is a key player in the field of neuromorphic computing, and there are many opportunities for organizations and researchers to get involved in this exciting and rapidly evolving technology.

Key players in the market

Some of the key players in Neuromorphic Computing market include BrainChip Holdings Ltd, General Vision Inc., GrAI Matter Labs, Gyrfalcon Technology Inc., Hewlett Packard Company, HRL Laboratories, LLC, IBM Corporation, Intel Corporation, International Business Machines Corporation, Knowm Inc, Nepes Corporation, Qualcomm Technologies, Inc, Samsung Electronics Co. Ltd, SK Hynix Inc., SynSense AG and Vicarious FPC Inc.

Key Developments:

In June 2024, BrainChip Introduces TENNs-PLEIADES in New White Paper. The white paper covers topics related to temporal network architectures, event-based benchmark experiments and possibilities that such an approach can achieve.

In June 2024, BrainChip and Frontgrade Gaisler Augment Space-Grade Microprocessors with AI Capabilities. This collaboration represents a significant milestone as it aims to introduce the first space-grade SoC worldwide with incorporated true artificial intelligence (AI) capabilities.

In November 2023, HP Partners with INDO-MIM to Advance Metal Additive Manufacturing. INDO-MIM has initially invested in three cutting-edge HP Metal Jet S100 printers as part of this collaboration, strengthening their commitment to advancing additive manufacturing globally.

Components Covered:

• Neuromorphic Chips
• Software
• Sensors
• Memory
• Interfaces
• Other Components

Deployments Covered:

• Edge Computing
• Cloud Computing

Technologies Covered:

• Memristive Neural Networks (MNNs)
• Spiking Neural Networks (SNNs)
• Neuromorphic Hardware

Applications Covered:

• Robotics
• Machine Learning
• Neuromorphic Vision Systems
• Brain-Computer Interfaces (BCIs)
• Natural Language Processing
• Sensory Processing
• Other Applications

End Users Covered:

• Healthcare & Life Sciences
• IT & Telecom
• Automotive
• Consumer Electronics
• Defense & Aerospace
• Industrial Automation
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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