Neuromorphic Chips Market 2024 | Market Size, Key Drivers, Industry Developments, Share, Future Growth Prospects And Forecast To 2033

Overview and Scope
Neuromorphic chips are computer hardware designed to mimic the structure and function of the human brain. They use artificial neurons and synapses to process information, allowing them to solve problems, recognize patterns, and make decisions more quickly and efficiently than traditional computers. These chips are characterized by collocated processing and memory and massively parallel processing, enabling them to perform multiple functions simultaneously.

Sizing and Forecast
The neuromorphic chips market size has grown rapidly in recent years. It will grow from $0.59 billion in 2023 to $0.68 billion in 2024 at a compound annual growth rate (CAGR) of 14.9%.  The growth in the historic period can be attributed to better-performing integrated circuits, adoption of speech recognition or biometric recognition, advancements in al and machine learning, and efficient power consumption.

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Segmentation & Regional Insights

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

North America was the largest region in the neuromorphic chips market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neuromorphic chips market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
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.

Key Industry Players
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.

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 – Macro Economic Scenario
5. Global Neuromorphic Chips Market Size and Growth
…………………………
32. Global Neuromorphic Chips Market Competitive Benchmarking
33. Global Neuromorphic Chips Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Neuromorphic Chips Market
35. Neuromorphic Chips Market Future Outlook and Potential Analysis
36. Appendix

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