Neuromorphic Chips Market Growth Trajectory Through 2024-2033

The Neuromorphic Chips Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Neuromorphic Chips Global Market Report 2024, The neuromorphic chips market size is expected to see rapid growth in the next few years. It will grow to $11.1 billion in 2028 at a compound annual growth rate (CAGR) of 13.1%. The growth in the forecast period can be attributed to growing demand for neuromorphic computing in defense and aerospace, increasing investment in research and development by companies, increasing adoption of IoT and M2M communication, rising demand for edge computing, and neuromorphic hardware in robotics. Major trends in the forecast period include new technological advancement, advancements in al and machine learning, increasing investments, and mergers and acquisition.

The growing demand for robotics and automation is expected to propel the growth of the neuromorphic chips market going forward. Robotics and automation refer to the use of computers, control systems, and information technology to handle industrial processes and machinery. Robotics and automation use neuromorphic chips to utilize brain-inspired computing concepts to increase the capabilities of automated systems and robots. For instance, in December 2022, according to the European Commission, a Belgium-based government body, the number of new industrial robots installed in companies globally reached an all-time high of 517,385, up 31% from 2020. Therefore, the growing demand for robotics and automation is driving the growth of the neuromorphic chips market.

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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

Major companies operating in the neuromorphic chips market are developing innovative products by using the latest AI neuromorphic chip technologies to better serve customers with advanced features. AI neuromorphic chip refers to a type of computer hardware that integrates 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 can process data 1,000 times faster and consume significantly less power than conventional processors like CPUs and GPUs. The technology’s energy efficiency makes it suitable for a wide range of applications, such as cybersecurity, smart homes, and industrial equipment.

The neuromorphic chips market report table of contents includes:

1. Executive Summary
2.Neuromorphic Chips Market Characteristics
3.Neuromorphic Chips Market Trends And Strategies
4.Neuromorphic Chips Market analysis
5.Neuromorphic Chips Market Size And Growth
6.Neuromorphic Chips Segmentation
7.Neuromorphic Chips Regional And Country Analysis
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27.Neuromorphic Chips Competitive Landscape And Company Profiles
28.Neuromorphic Chips Key Mergers And Acquisitions
29.Neuromorphic Chips Future Outlook and Potential Analysis

TOP MAJOR PLAYERS:

• Samsung Electronics Limited
• Lockheed Martin Corporation
• Intel Corp.
• International Business Machine Corporation
• IBM Corporation

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