Global Neuromorphic Computing Market in North America is Expected the Largest Share

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Chicago, Jan. 17, 2023 (GLOBE NEWSWIRE) — Neuromorphic Computing Market by Offering, Deployment, Application (Image Recognition, Signal Recognition, Data Mining), Vertical (Aerospace, Military, & Defense, Automotive, Medical) and Geography – Global Forecast to 2026″, The need for better performing ICs, increase in demand for artificial intelligence and machine learning, and increasing number of cross-industry partnerships and collaborations are key factors driving the growth of the market. Artificial intelligence (AI) is being adopted in industries such as medical, media, entertainment, telecom, utility, aerospace, military, consumer devices, food & beverages, and piping.

A combination of AI systems and machine learning is set to revolutionize the business environment with smart decisions. However, lack of knowledge about neuromorphic computing and complex algorithms increasing complexity of designing hardware of neuromorphic chips can act as a major challenges in the market during the forecast period.

North America is expected to hold the largest share in the neuromorphic computing market in 2021, with the US being the major contributor to the market in the region. The higher penetration of devices with unique voice and image identification capabilities in defense, wearables, IoT, and robotics technologies for interactive experience is driving the growth of the neuromorphic computing market in the region. The presence of prominent technology providers, such as IBM (US) and Intel (US), contributes to the market’s growth in this region. The growing concerns about the security of critical infrastructure and sensitive data have led to increased government spending in recent years and resulted in the adoption of neuromorphic chipsets in security applications in this region.

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Neuromorphic Computing Market Scope of the Report

Report Metric Details
Estimated Market Size  USD 22,743 Thousand
Projected Market Size  USD 550,593 Thousand
Growth rate  CAGR of 89.1%
Market size available for years 2018–2026
Base year 2020
Forecast period 2021–2026
Segments covered Offering, deployment, application, vertical and by region
Geographic regions covered North America, APAC, Europe, and RoW
Companies covered
  • Intel Corp. (US),
  • IBM Corporation (US),
  • BrainChip Holdings Ltd. (US),
  • Qualcomm (US),
  • HP Enterprise (US),
  • Samsung Electronics Ltd. (South Korea),
  • HRL Laboratories,
  • LLC (US),
  • General Vision Inc. (US),
  • Applied Brain Research Inc. (US) among others

This report categorizes the neuromorphic computing market based on offering, deployment, application, vertical and region

“Browse in-depth TOC on “Neuromorphic Computing Growth Drivers“­­­­­­­­

129 – Tables
63 – Figures
218 – Pages

Top 2 players in the neuromorphic computing are:

Intel Corporation (US)

Intel Corporation ranked first in the neuromorphic computing market in 2020. Intel, in collaboration with Purdue University, started to work on the designing of neuromorphic chip. In 2012, Intel revealed its spin-based neuromorphic microchips as the ultimate parallel processors and was planning to progress on system-level modelling of large-scale neuromorphic architectures based on the proposed device–circuit scheme. In June 2019, the company announced, that an 8 million-neuron neuromorphic system comprising 64 Loihi research chips is available to the broader research community.

With Pohoiki Beach, researchers can experiment with Intel’s brain-inspired research chip, Loihi, which applies the principles found in biological brains to computer architectures. Loihi enables users to process information up to 1,000 times faster and 10,000 times more efficiently than CPUs for specialized applications like sparse coding, graph search and constraint satisfaction problems. For the development of neuromorphic chip, Intel joined hands with AMD (US), one of the leading technology development companies, and this partnership is likely to help Intel make use of new innovative solutions for neuromorphic chip development. Intel has also started a Parallel Computing Lab which focuses on applications such as big data, machine learning, neuromorphic computing, extreme-scale computing, multimodal real-time physical simulation, behavioral simulation, interventional medical imaging, large-scale optimization (FSI), and computational biology.

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IBM Corporation

IBM Corporation ranked second in the neuromorphic computing market in 2020. IBM is a pioneer in neuromorphic chip design and has a good brand recognition. It unveiled the first brain-like neuromorphic chip back in 2011. The company tends to make successful acquisitions for expansion of its reach as well as business operations. For instance, the company is planning to complement Watson cognitive computing skills with speed and pattern recognition capabilities of neuromorphic chips.

IBM’s goal is to give every business professional access to advanced cognitive-powered predictive analytics, coupled with new forms of data, In 2011, IBM (US) unveiled what it calls TrueNorth, a custom-made, brain-like chip that builds on a simpler experimental system. TrueNorth is equipped with 4,096 processor cores, and it replicates 1 million human neurons and 256 million synapses—two of the fundamental biological building blocks that make up the human brain. It is the largest chip IBM has ever built at 5.4 billion transistors and has an on-chip network of 4,096 neurosynaptic cores.

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