Neuromorphic Computing Market Size, Share, Trends, Growth and Forecast 2032

Neuromorphic Computing Market Insights

According to a report from Zion Market Research, the global Neuromorphic Computing Market was valued at USD 5.23 Billion in 2023 and is projected to hit USD 28.77 Billion by 2032, with a compound annual growth rate (CAGR) of 20.86% during the forecast period 2024-2032. This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Neuromorphic Computing industry over the next decade.

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Global Neuromorphic Computing Market: Overview

In Global Neuromorphic Computing Market Report, Large integration systems containing numerous analog circuits, which replicate the neurobiological behaviors that exist in the human nervous system and this replication is done using the neuromorphic computing. They consist of two main systems that are based on the hardware architecture that is custom made. These systems are made in such a way that they program the neural microcircuits and brain-like thought process is applied in the machine learning process and cognitive computing. Thus, owing to this, the machine learns, functions, and adapts itself like a human brain. The neuromorphic computing systems are devices that are brain inspiring and are capable of high-speed simulations and low energy. SpiNNaker system and BrainScaleS are the two neuromorphic computing systems.

Global Neuromorphic Computing Market: Growth Factors

The rise in the demand for artificial intelligence has triggered the global neuromorphic computing market. For the reverse-engineering of the human brain, the industry vendors are concentrating on the development of the neural processing unit that can be included in the processor chip. The global market is growing owing to the increase in demand for the brain and cognitive robots. Various industrial sectors such as the automotive, electronics and the robotics are making use of the neuromorphic computing technology, hence positively impacting the global market growth. Other verticals that are driving the demand are the satellite imagery and the aerial surveillance.

The growth in the signal processing and the audio processing applications are positively impacting the industry. The segment that holds the largest share in the global market growth is the consumer electronics. The neuromorphic computing is used in the smart and self-driven vehicles which are bringing the transportation segment to a next level. The factor that is restraining the growth of the global market is the shortage of the investments for the research and development works. The other factor is that complex algorithms and upgraded software are required to make the chips, which is challenging the global market growth.

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Global Neuromorphic Computing Market: Segmentation

The global neuromorphic computing market is segmented on the basis of application, industry and the regions. On the basis of application, the global neuromorphic computing market is segregated into data mining, image recognition, object detection and signal recognition. Based on the industry, the global market is categorized into IT and telecom, medical, consumer electronics, aerospace and defense, automotive, industrial and others.

Region-wise, the global market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Neuromorphic Computing Market: Report Scope

Global Neuromorphic Computing Market: Regional Analysis

The region dominating the global neuromorphic computing market is North America. The countries such as Mexico, the U.S., and Canada are holding a major share in the global neuromorphic computing market. The major market in the North American region contributing to the global market growth is the image recognition industry. The growing demand for automation in countries such as South Korea, China, Brazil, and India is triggering the global market growth in the Asia-Pacific and the South American regions. The European market is also gaining momentum owing to the rise of opportunities for the neuromorphic projects.

Global Neuromorphic Computing Market: Competitive Players

Some main participants of the Neuromorphic Computing market are:

• Hewlett-Packard
• Samsung Electronics Co. Ltd.
• Intel Corporation
• HRL Laboratories
• Vicarious FPC, Inc.
• Numenta, Inc.
• CEA-Leti
• IBM Corporation
• Qualcomm Inc.
• Brain Corporation
• General Vision Inc.
• Knowm Inc.
• Applied Brain Research Inc., among others.

The Global Neuromorphic Computing Market is segmented as follows:

By Application 

• Data Mining 
• Image Recognition
• Object Detection
• Signal Recognition 

By Industry 

• Into IT & Telecom
• Medical
• Consumer Electronics
• Aerospace & Defense
• Automotive
• Industrial and Others

Neuromorphic Computing Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa