What Has Been The Evolution of the Neuromorphic Chips Market in Recent Years?
The neuromorphic chips market has seen considerable growth due to a variety of factors.
• The size of the neuromorphic chips market has experienced swift expansion in the past few years. The market's value is projected to increase from $0.68 billion in 2024 to $0.78 billion in 2025, with a compound annual growth rate (CAGR) of 14.8%.
This historical growth is primarily due to improvements in integrated circuits, the acceptance of speech recognition or biometric recognition technology, advancements in artificial intelligence and machine learning, as well as more efficient power consumption.
What Is the Forecasted Market Size and Growth Rate for The Neuromorphic Chips Market Size In The Coming Years?
The neuromorphic chips market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of neuromorphic chips is anticipated to swiftly grow in the upcoming years, eventually reaching $1.24 billion in 2029, boasting a compound annual growth rate (CAGR) of 12.4%.
The projected expansion during the forecast period is largely due to the escalating demand for neuromorphic computing within the realms of defense and aerospace, augmented investments in research and development by enterprises, rising utilization of Internet of Things (IoT) and Machine-to-Machine (M2M) communication, a surge in demand for edge computing, as well as the incorporation of neuromorphic hardware within robotics. The forecast period also signals the progression of new technological advancements, breakthroughs in Artificial Intelligence (AI) and machine learning, enhanced investments, and an uptick in mergers and acquisitions.
What Factors Are Driving Growth In The Neuromorphic Chips Market?
The asceandance of the neuromorphic chips market is likely influenced by the burgeoning need for robotics and automation. Such automation involves the application of information technology, control systems, and computers to manage industrial machinery and procedures. Neuromorphic chips, which employ brain-inspired computing paradigms, amplify the prowess of automated systems and robotics used in this automation. For example, the International Federation of Robotics, a non-profit organization based in Germany, recorded a 9% increase in industrial robot installations in Europe by September 2024, achieving a new record of 92,393 units. Out of these, 80% were deployed in the European Union amounting to 73,534 units—an uplift of 2% from the last year. Consequently, the rise in the demand for robotics and automation is a prominent driving force for the neuromorphic chips market growth.
What Are The Main Segments Of The Global Neuromorphic Chips Market?
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
Subsegments:
1) By Software: Neuromorphic Programming Environments, Simulation And Modeling Tools, Machine Learning Algorithms For Neuromorphic Systems, Data Processing And Analytics Software, Development And Debugging Tools
2) By Hardware: Neuromorphic Processors, Neuromorphic Sensors, Specialized Integrated Circuits (Ics), Field-Programmable Gate Arrays (Fpgas) For Neuromorphic Applications, Neuromorphic Chip Systems And Platforms
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How Are New Trends Impacting The Size Of The Neuromorphic Chips Market?
Leading businesses in the neuromorphic chips market are dedicating their efforts towards creating advanced solutions, such as neuromorphic development kits, intended for smart wearables and devices dedicated to industrial monitoring. A neuromorphic development kit is an instrument engineered for the crafting and evaluation of artificial intelligence systems that replicate brain's neural processing. This enables proficient, and energy-efficient processing of sensory data in arenas like robotics and the Internet of Things. For example, in September 2023 SynSense AG, a company headquartered in Switzerland with a specialized focus on neuromorphic intelligence and application solutions, introduced the Xylo IMU HDK, a neuromorphic development kit. This kit features a unique chip designed specifically for ultra-low-power motion processing applications, making it perfect for analyzing human movement, industrial monitoring, and human-computer interaction. It's equipped with a 3-axis accelerometer, configurable SNN processing, and a flexible, energy-saving design that can be adapted for various wearables and monitoring devices.
Who Are the Key Players 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.
• NumentaInc.
• Koniku
• Applied Brain ResearchInc.
• General Vision Inc.
• Knowm Inc.
What Is The Most Dominant Region In The Neuromorphic Chips Market?
North America was the largest region in the neuromorphic chips market in 2024. 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.
