Global Neuromorphic Chips Market Report 2024: Size, Drivers, And Top Segments
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The neuromorphic chips market has experienced rapid expansion, growing from $0.59 billion in 2023 to $0.68 billion in 2024, indicating a CAGR of 14.9%. This growth is driven by the development of better-performing integrated circuits, increased adoption of speech or biometric recognition technologies, advancements in AI and machine learning, and focus on efficient power consumption. Looking ahead, the market is poised for significant growth, projected to reach $11.1 billion by 2028, boasting a CAGR of 13.1%. Factors contributing to this expansion include growing demand in defense and aerospace sectors, increased R&D investment, rising adoption of IoT and M2M communication technologies, demand for edge computing solutions, and integration of neuromorphic hardware in robotics. Major trends in the forecast period encompass technological advancements, progress in AI and machine learning, increasing investments, and potential mergers and acquisitions.
The neuromorphic chips market is set to witness substantial growth driven by the escalating demand for robotics and automation in various industries. Robotics and automation, leveraging computers and control systems, enhance industrial processes’ efficiency. Neuromorphic chips, vital in enabling brain-inspired computing, play a crucial role in advancing automated systems and robots. For instance, data from the European Commission in December 2022 revealed a significant surge in new industrial robot installations, reaching a record-breaking figure of 517,385, marking a 31% increase from 2020. This surge highlights the growing demand for robotics and automation, steering the growth trajectory of the neuromorphic chips market, projected to reach [insert 2028 market size value] by 2028.
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What Are The Key Trends That Influence Neuromorphic Chips Market Share Analysis?
Major companies in the neuromorphic chips market are developing innovative products using the latest AI neuromorphic chip technologies to offer advanced features. AI neuromorphic chips integrate artificial intelligence (AI) and neuromorphic computing principles. For instance, in September 2021, Intel Corporation, a US-based technology company, introduced Loihi 2, its second-generation neuromorphic research chip, and Lava, an open-source software framework for developing neuro-inspired applications. This chip processes data 1,000 times faster and consumes significantly less power than conventional processors like CPUs and GPUs, making it suitable for applications such as cybersecurity, smart homes, and industrial equipment.
Which Market Players Are Driving Growth In The Neuromorphic Chips Market?
Major companies operating in the neuromorphic chips market report are Samsung Electronics Limited, Lockheed Martin Corporation, Intel Corp., International Business Machine Corporation, IBM Corporation, SK Hynix Inc., Qualcomm, Hewlett Packard Enterprise, Cadence Design Systems Inc., Nepes Corp. , Nepes Corporation, CEA Leti, HRL Laboratories LLC, Altium LLC, SynSense AG, Innatera, Brain Corporation, Vicarious FPC Inc. , GrAI Matter Labs, Gyrfalcon Technology Inc, Ceryx Medical, Brain chip Holdings Ltd., Numenta, Inc. , Koniku, Applied Brain Research, Inc., General Vision Inc., Knowm Inc.
How Is The Global Neuromorphic Chips Market Segmented?
The neuromorphic chips market covered in this report is segmented –
1) By Components: Software, Hardware
2) By Function: Signal Processing, Data Processing, Image Recognition, Process optimization
3) By End Use Industry: Aerospace And Defense, Automotive, Healthcare, Industrial, Consumer Electronics, Other End User Industries
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The Neuromorphic Chips Global Market Report 2024 provides an overview of the neuromorphic chipsmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The neuromorphic chips market forecast analyzes neuromorphic chips market size, neuromorphic chips market share, leading competitor and their market positions.
The Table Of Content For The Neuromorphic Chips Market Include
1. Neuromorphic Chips Market Executive Summary
2. Neuromorphic Chips Market Segments
3. Neuromorphic Chips Market Size And Template Market Growth Rate
4. Key Neuromorphic Chips Market Trends
5. Major Neuromorphic Chips Market Drivers
……
25. Key Mergers And Acquisitions In The Neuromorphic Chips Market
26. Top Neuromorphic Chips Companies
27. Neuromorphic Chips Market Opportunities And Strategies
28. Neuromorphic Chips Market, Conclusions And Recommendations
29. Appendix
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