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New York, NY, March 15, 2023 (GLOBE NEWSWIRE) — Polaris Market Research has published a new research report titled “Neuromorphic Computing Market Share, Size, Trends, Industry Analysis Report, By End-use (Consumer Electronics, Automotive, Healthcare, Military & Defense, Others); By Component; By Application; By Deployment; By Region; Segment Forecast, 2023 – 2032” in its research database.
“According to the latest research study, the global neuromorphic computing market size/share is anticipated to be valued at approximately USD 4.34 Billion in 2022 and is projected to hit a revenue of around USD 29.54 Billion By 2032, at a CAGR of around 21.1% between 2023 and 2032.”
What is Neuromorphic Computing? How Big is the Size & Share of Neuromorphic Computing Market?
- Report Overview
Neuromorphic computing is an approach of AI-led technology in which computer elements are designed that is based on the systems found in the human brain and the nervous system. This model, sometimes called neuromorphic engineering, refers to the design of both the hardware and software components of computers. Neuromorphic computing-based computers take less space and have the ability to perform tasks more quickly and effectively.
Other features of neuromorphic computing include a rapid response system, low consumption of power, higher adaptability, fast-paced learning, and others. Another fundamental feature of neuromorphic computing is its mobile architecture. Growing demand for artificial intelligence and machine learning technology and the rise in the use of software in this sector is majorly driving the neuromorphic computing market size. Also, increasing demand for better-performing integrated circuits (ICs) is fueling industry growth.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report May Includes:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
What Does the Market Report Include?
- The report covers the top vendors in the market.
- The future growth rate and expected growth of the industry and your business.
- The study recognizes the drivers and restraints of the market.
- The risk and uncertainties that may arise in the market.
- The segments or regions that have extreme growth potential and are projected to experience. tremendous during the forecast period are featured in the report.
- The report gives a perspective of the market and its performance.
Some of the Top Companies Are:
- International Business Machines Corporation (IBM)
- Intel Corporation
- Qualcomm Technologies
- Samsung Electronics
- General Vision
- Applied Brain Research
- Hewlett Packard Enterprise
- HRL Laboratories LLC
- Brain Corporation
- Halo Neuroscience
For Additional Information on Key Players, Download a PDF Brochure: https://www.polarismarketresearch.com/industry-analysis/neuromorphic-computing-market/request-for-sample
Key Growth Driving Factors
- Rise in demand for neuromorphic chips in the automotive sector to push the market growth
The rising use of neuromorphic technology in deep learning applications, accelerators, transistors, and next-generation semiconductors is fueling market growth. Increased demand for neuromorphic chips in the automotive sector is anticipated to create growth opportunities in the neuromorphic computing market. A rise in demand for AI and ML across various areas, including media and entertainment, aerospace, utility, consumer electronics, food & beverage, and military, is propelling the neuromorphic computing market sales. Increasing technological developments in neuromorphic computing are further expected to boost market growth.
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Recent Trending influencing the market
- The market is expanding as a result of an increase in the use of neuromorphic chips over the Von-Neumann architecture due to its intrinsic advantages in terms of speed, efficiency, and power consumption.
- Furthermore, major industry firms are increasingly investing in R&D activities and focusing on launching new products to advance new research technology. This is one of the key factors supporting the neuromorphic computing market growth. For instance, In December 2022, Polyn Technology announced that it has made its neuromorphic analog signal processing models available on Edge Impulse, a machine learning platform for low-power edge devices used in wearables and the Industrial IoT.
- Image Processing segment accounted for the largest neuromorphic computing market share in 2022
On the basis of application, in 2022, the image processing category held the largest revenue share as neuromorphic computing systems is commonly used in image processing. These systems are particularly useful for functions like object recognition, scene understanding, and facial recognition because they have the ability to evaluate and extract information from photos in real-time.
- Consumer Electronics segment dominated the market in 2022
By end-use, consumer electronics witnessed the highest market share in 2022. This growth can be attributed to the increasing demand for neuromorphic processors from the consumer electronics sector owing to the growing adoption of various electronic devices, such as laptops, PCs, and tablets. Image recognition software for cameras and smartphones has been developed using neuromorphic computing in consumer devices. These systems utilize neuromorphic algorithms to identify and interpret visual information.
- In 2022, the hardware segment captured the major share of the market
In terms of component neuromorphic computing market segmentation, the hardware category witnessed the greatest revenue share owing to the growing use of machine learning methods and their integration with embedded systems. Also, a surge in the use of neuromorphic hardware to enhance computing in embedded devices is fostering segment growth. The underlying structure of brain networks is mimicked by computing architectures used in neuromorphic technology.
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Neuromorphic Computing Market: Report Scope
|Revenue forecast in 2032||USD 29.54 Billion|
|Market size value in 2023||USD 5.25 Billion|
|Expected CAGR Growth||21.1% from 2023 – 2032|
|Forecast Year||2023 – 2032|
|Top Market Players||International Business Machines Corporation (IBM), Intel Corporation, BrainChip, Inc., Qualcomm Technologies, Inc., Samsung Electronics Co. Ltd., General Vision, Inc., Applied Brain Research, Hewlett Packard Enterprise Development LP, HRL Laboratories, LLC, Knowm Inc, Brain Corporation and Halo Neuroscience|
|Segments Covered||By Application, By Deployment, By End-use, By Component, By Region|
|Customization Options||Customized purchase options are available to meet any research needs. Explore customized purchase options|
- North America registered the highest revenue share in 2021
By geography, the neuromorphic computing market in North America held the largest market share in 2021 due to the industries of Canada and the United States. The market is also expanding because of The development of data centers in numerous locations throughout the area, and the rise in the number of countries utilizing ML and Al technologies will both support market expansion. Another prominent factor contributing to the regional market growth is the use of AI-powered voice and speech recognition technology.
Further, Europe is likely to generate a substantial CAGR during the foreseen period due to the growing need to miniaturize loT devices which has led to an increase in the demand for Al develops and a consumer shift toward smaller product sizes.
Browse the Detail Report “Neuromorphic Computing Market Share, Size, Trends, Industry Analysis Report, By End-use (Consumer Electronics, Automotive, Healthcare, Military & Defense, Others); By Component; By Application; By Deployment; By Region; Segment Forecast, 2023 – 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/neuromorphic-computing-market
For Additional Information OR Media Enquiry, Please Mail At: [email protected]
- In November 2022, Researchers from the Autonomous University of Barcelona created a novel substance that can resemble the synapses in the human brain. A magneto-ionic material, this novel substance mimics cerebral activity by displacing ions, which modifies the magnetic characteristics of the substance.
Important Questions Answered by Report
- What is the present size of the market?
- What are the names of key players working in the market?
- What are trending strategies utilized by market enterprises to expand their businesses?
- What are the key regions of the market?
- Which product type of the market is in high demand?
- What is the projected size of the market at the end of the forecast period?
Polaris Market Research has segmented the Neuromorphic Computing market report according to application, end-use, deployment, component, and region:
By End-use Outlook
- Consumer Electronics
- Military & Defense
By Component Outlook
By Application Outlook
- Signal Processing
- Image Processing
- Data Processing
- Object Detection
By Deployment Outlook
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa
Browse More Related Reports:
About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
AUTOCANADA ANNOUNCES PROMOTIONS AND EXPANDS LEADERSHIP TEAM
AutoCanada Inc. (“AutoCanada” or the “Company”) (TSX: ACQ), a multi-location North American automobile dealership group, announced key promotions and additions to its leadership team.
Jeff Thorpe, who joined the Company as President, Canadian Operations in April 2022, will have responsibility for all operations in North America as President, North American Operations. Brian Feldman, who joined as Senior Vice President, Canadian Operations and Disruptive Technologies in April 2022, has been appointed as Chief Operating Officer of the Company.
“Jeff and Brian have proven themselves over the last year and have been instrumental in driving our strong performance through their focus on operational initiatives in Canada. We are very pleased to provide Jeff with the increased responsibility of oversight over our U.S. operations, in addition to Canadian operations, and to appoint Brian as the Chief Operating Officer of the Company,” said Paul Antony, Executive Chairman of the Company.
In addition, Drew Forret will be appointed as Chief Administrative and Transformation Officer and Michael Fera will join as Vice President, Financial Planning and Analysis, each effective in the fourth quarter of 2023. These new roles will support the Company’s renewed focus on fiscal discipline.
“We are very excited to welcome Drew and Michael to the AutoCanada team. Drew and Michael’s significant and proven experience in driving high-performance business cultures with scalable best practices and fiscal discipline will be invaluable for AutoCanada as we continue on the next leg of our journey,” said Mr. Antony.
Drew has over 20 years of experience focusing on the leadership and scaling of growth-based organizations. He most recently held the position of Chief Operating Officer and Chief Financial Officer of Voices, a platform that connects businesses with professional voice talent. Prior to Voices, Drew was the Chief Operating Officer and Chief Financial Officer of CarProof, a provider of vehicle history reports, and President of Activplant, an originator of manufacturing intelligence software. Michael has over a decade of experience in financial planning and analysis. He joins us from Tim Hortons, Canada’s leading quick-service restaurant chain, where he served as Head of Finance for the Canadian business. In addition, Michael held several operational roles spanning development, franchising, non-traditional business and real estate during his tenure with Tim Hortons.
Huawei’s Brand-New Digital and Intelligent Foundation Upgrades Aviation and Rail Industries
SHANGHAI, Sept. 25, 2023 /PRNewswire/ — In parallel with HUAWEI CONNECT 2023, Huawei’s Aviation & Rail BU held three global summits specifically oriented to the BU’s niche.
Using an upgraded digital and intelligent foundation, Huawei dives deep into a wide variety of industry scenarios and expedites the intelligent development of aviation and rail through multi-dimensional awareness, ubiquitous connectivity, and open platforms.
China West Airport Group (CWAG) chose Huawei to jointly develop a comprehensive intelligent transformation strategy.
According to Lin Bin, CWAG’s Deputy General Manager, his company has created 35 intelligent solutions for security, operations, services, and other scenarios using Huawei’s high-performance computing power and open intelligent platforms, as well as advanced algorithms for the industry.
For airport operations, digital and intelligent ground handling solutions forecast the real-time status of flights, passengers, and resources, as well as promptly generating warnings. They also intelligently dispatch ground handlers as needed. The solutions increase ground support efficiency by 20% and shorten the time support takes by 17%. In addition, smart airport operation solutions have introduced the optimal flight plan result model to achieve best supply-demand matching and AI-assisted operation command.
Ever-evolving technologies have brought both challenges and opportunities to enterprise digital transformation and intelligent upgrade. Li Junfeng, Vice President of Huawei and CEO of Huawei’s Aviation & Rail BU, delivered an opening speech at the global railway summit. He explained that as GSM-R gradually exits the market, the railway industry requires a next-generation mobile communications system to ensure efficiency and benefits, as well as maintain high-quality development. In response, Huawei is thinking about how it can leverage AI to better serve the railway industry, and have built practices and made remarkable achievements during its journey.
Huawei teamed up with Huitie Technology to develop the Smart Railway TFDS Solution, which uses the Pangu Railway Model with 3 billion parameters. The solution covers all TFDS scenarios and effectively identifies over 430 types of faults on 67 vehicle models with a comprehensive fault identification rate exceeding 99.3%. It ensures near-zero missed inspections for critical faults and triples the operational efficiency.”
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View original content:https://www.prnewswire.co.uk/news-releases/huaweis-brand-new-digital-and-intelligent-foundation-upgrades-aviation-and-rail-industries-301937371.html
Hexagon’s Sixth Sense Announces Nine Startups to Transform Manufacturing Sustainability and Digital Reality
Selected innovators leading the charge in reshaping manufacturing for a sustainable future
COBHAM, England, Sept. 25, 2023 /PRNewswire/ — Today, Hexagon’s Manufacturing Intelligence division announced the nine manufacturing startups chosen for its third Sixth Sense cohort. The selected companies were chosen from a highly competitive pool of hundreds of applicants, distinguishing themselves with groundbreaking solutions addressing critical manufacturing challenges, with a focus on sustainability and digital reality.
The selected startups, which hail from seven countries, bring unique approaches to some of today’s most critical manufacturing challenges, such as improving product sustainability, eliminating waste, capturing real-time data, automating design, and incorporating cobots into production lines. As part of the Sixth Sense program, they will gain access to Hexagon’s invaluable market insights, accumulated over decades of collaboration with industry-leading technology giants, which will accelerate their journey to commercial success.
Hexagon, the industrial software leader that plays a pivotal role in manufacturing 90% of aircraft, 75% of smartphones, and 95% of all automobiles worldwide, launched Sixth Sense in January 2022. This initiative is designed to nurture startups within the manufacturing industry by supporting them with Hexagon’s extensive resources.
The nine startups are:
Acerta Analytics, Canada: Acerta Analytics provides advanced analytics solutions that leverage machine learning and artificial intelligence (ML/AI) to turn complex product data into actionable insights. The solution enables automakers and suppliers of complex vehicle parts to improve quality in manufacturing processes and supports early defect detection.Circularise, Netherlands: Circularise offers digital product passports for end-to-end traceability and secure data exchange in industrial supply chains. Its technology helps companies achieve transparency and sustainability by tracking the lifecycle of products and materials.Dessia, France: Dessia offers a platform featuring virtual “bots” that serve as companions to assist engineers in designing mechanical systems. These virtual assistants provide support and insights throughout the design process.Flexxbotics, Boston, US: Flexxbotics specialises in enabling high-mix automation-intensive manufacturers to create flexible next-generation machining environments. It utilises breakthrough FlexxCORE™ technology to seamlessly connect and coordinate collaborative robots with existing automation equipment, IT systems, and personnel to deliver autonomous process control.Launchpad, Los Angeles, US: Launchpad utilises AI and advanced simulation technologies to automate aspects of the design, procurement, and manufacturing process. Its focus is on concepts like mass customization, micro-factories, and software-defined robotics to create shorter supply chains, reduce waste, and deliver new features faster in the manufacturing industry.Rafinex, Luxembourg: Rafinex’s stochastic AI topology optimization for safe, lightweight designs. This technology actively manages uncertainty and risks of real-life variability to create uniquely robust designs that remain safe even in off-design load conditions for application in safety-critical performance sectors such as aerospace, automotive, and tooling.RV Magnetics, Slovakia: RV Magnetics has developed the world’s smallest passive sensor based on MicroWire technology. This sensor combines unique capabilities from electromechanics, electronics, chemistry, physics, applied magnetism, and industrial design, offering diverse applications.ToffeeAM, London, UK: ToffeeAM provides state-of-the-art multi-physics generative design software for engineering. Its mission is to empower engineers to optimise engineering components and systems efficiently, enabling them to go further and faster in design processes.Zaptic, Manchester, UK: Zaptic provides job instruction and collaboration tools for frontline teams, along with a no-code toolkit designed to accelerate the digital transformation of daily operations. The solutions help organizations streamline processes and improve communication among frontline workers.These startups will embark on an intensive 16-week journey as part of the Sixth Sense program, collaborating closely with Hexagon to refine their offerings. Ultimately, up to three winners will be selected from the cohort, granting them access to Hexagon’s extensive resources for global expansion, including potential funding, worldwide office space, and Hexagon’s comprehensive suite of products and services. Additionally, they will be showcased on Hexagon’s open digital reality platform for manufacturing, Nexus, providing them access to world-class companies.
“For this third cohort, we’ve been on the hunt for new innovations that enable manufacturing leaders to lead the net-zero transition – especially with sustainable product design – and we’re thrilled with the caliber of the startups we’ve found to participate,” said Josh Weiss, president of Hexagon’s Manufacturing Intelligence division. “Sixth Sense is designed to pinpoint emerging opportunities for greater innovation, and we’re thrilled to give these companies that are poised for high-growth access to resources and customers that they typically wouldn’t have at this stage in their lifecycle.”
“Hexagon’s commitment to nurturing innovation and driving sustainable manufacturing practices continues to shine through,” said Milan Kocić, head of Sixth Sense, Hexagon. “Each of these startups has demonstrated their capacity to address pressing manufacturing challenges with creativity and determination. Much like our previous cohorts have addressed critical industry challenges, we believe these innovators will play a crucial role in shaping a sustainable future for the manufacturing industry.”
About Sixth SenseHexagon technologies are used to manufacture 90% of aircraft, 75% of smartphones, and 95% of every automobile produced worldwide. It has the scale, the network, and the ambition to make a difference. As we enter the era of Industry 4.0, Sixth Sense was launched to discover smart and efficient solutions that will boost performance and benefit people and the planet. By inviting the next generation of innovators to the table, Hexagon aims to share its resources and make connections that accelerate progress – pushing the boundaries of design, manufacturing, and engineering and starting to imagine a better future for the benefit of everyone. To follow Sixth Sense, and learn about the ecosystem and opportunities for participation, visit https://sixthsense.hexagon.com/.
About HexagonHexagon is the global leader in digital reality solutions, combining sensor, software and autonomous technologies. We are putting data to work to boost efficiency, productivity, quality and safety across industrial, manufacturing, infrastructure, public sector, and mobility applications.
Our technologies are shaping production and people related ecosystems to become increasingly connected and autonomous – ensuring a scalable, sustainable future. Hexagon’s Manufacturing Intelligence division provides solutions that use data from design and engineering, production and metrology to make manufacturing smarter. For more information, visit hexagon.com/mi.
Hexagon (Nasdaq Stockholm: HEXA B) has approximately 24,000 employees in 50 countries and net sales of approximately 5.2bn EUR. Learn more at hexagon.com and follow us @HexagonAB.
View original content:https://www.prnewswire.co.uk/news-releases/hexagons-sixth-sense-announces-nine-startups-to-transform-manufacturing-sustainability-and-digital-reality-301936427.html
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