Neuromorphic chips are electronic chips, a combination of digital and analog Very LargeScale Integration (VLSI) system and software. It can execute neural system models. Neuromorphic chips are inspired from the human brain. Neuromorphic chips works with the help of millions of signals sent and received through a network. The global neuromorphic chips market is expected to grow with a CAGR of about 25% during the forecast period 2016-2023. Neuromorphic chips are much faster than the current computer systems at processing sensory data and are expected to replace the CPUs in the future. Increasing demand for artificial intelligence and machine learning are responsible for the growth of the global neuromorphic chip market during the forecast period. Neuromorphic chips uses artificial intelligence and machine learning it can perform intelligent tasks with computer systems. Also, increasing usage of internet of things and data analytics are fueling growth in the market of neuromorphic chips. Due to fast operations, small size and high efficiency, neuromorphic chips have numerous advantages that fuel the growth of the market. Neuromorphic chips can process multiple things at the same time. This allows it to process sensory information very efficiently thus, contributing to the growth of global neuromorphic chip market.
The increasing applications of internet of things and artificial intelligence are the factors responsible for the growth of the global neuromorphic chip market during the forecast period. Artificial intelligence is used to perform various tasks such as medical diagnosis, robot control, electronic sensing etc. Also, other applications of artificial intelligence include speech recognition, image processing etc. The advantage of artificial intelligence is development of intelligent devices which acts as a major driving factor for the growth of the global neuromorphic chip market.
Source: OBRC Analysis.
The report on global neuromorphic chip market is segmented on the basis of component, applications and end users.
The components of global neuromorphic chip market include:
- Hardware
- Software
Applications of global neuromorphic chip market are:
- Image Recognition
- Signal Recognition
- Data Processing
End user segment of global neuromorphic chip market is divided as:
- Medical industry
- Military and Defense
- Industrial
- Aerospace
- Automotive industry
- Consumer sector
- IT and Telecom
The report scope is widely categorized on the basis of its segments such as component, application and end users. Moreover, the market revenue estimates and forecast includesneuromorphic chips. However, report scope excludes microcontroller integrated circuits.
Geographically, global neuromorphic chip market report has been segmented in:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
North America held the largest revenue share of the neuromorphic chip market in 2016. Moreover, the region is expected to hold the largest market revenue during the forecast period. The rising applications of neuromorphic chips in various sectors such as image and signal recognition are the key driving factors for the growth of neuromorphic chip market in the region. Also, increasing applications of Internet of Things in North America is fueling growth in the neuromorphic chip market. The U.S. government and key market players invests heavily on the internet of things in North America therefore, growing neuromorphic chip market in the region. In 2016, Samsung invested $1.2 billion for internet of things devices in the United States. The growth in neuromorphic chip market in North America is due to presence of key market players in the region such as Qualcomm, IBM etc.
Global neuromorphic chip market report covers segmentation analysis of components, applications and end users. Report further covers segments of component which include hardware and software. Software segment is expected to hold the largest market share during the forecast period. The factor driving the growth of software market is increasing adoption of software in industries such as aerospace, defense, medical, IT and telecom. The applications of the global neuromorphic chip marketinclude image recognition, signal recognition and data processing. Signal recognition application is expected to hold the largest market share during the forecast period. The factor responsible to drive the growth of signal recognition is adoption of speech recognition in various sectors such as medical and automotive industries. Also, speech recognition is used in the field of healthcare for radiologist scanning for many X-rays, CT scans and ultra-sonograms. Also, the end user segment of global neuromorphic chip market is divided as medical industry, military and defense, industrial, aerospace, automotive industry, consumer sector and IT and telecom. Consumer electronics sector is expected to hold the largest share during the forecast period owing to increasing demand of electronic devices such as smart phones, laptops and tablets.
The major market players of the global neuromorphic chip market are:
- IBM
- QUALCOMM INC.
- HEWLETT PACKARD CO.
- INTERNATIONAL BUSINESS MACHINE CORPORATION
- SAMSUNG ELECTRONICS
- OTHERS
These companies are using various strategies such as merger & acquisition, collaboration, partnership and product launch whereas, product launch is the key strategy adopted by the companies in the global neuromorphic chip market.
For example: In 2017, IMEC developed and launched a neuromorphic chip. The chip uses brain inspired circuits to compose melodies. This chip has an application in personal electronics and neural networks.
The report covers detailed analysis of companies which comprises overview, SCOT analysis, product portfolio, strategic initiative, strategic analysis, competitive landscape and market share analysis in the global neuromorphic chip market.
Key reason to buy the report:
- The report includes market estimation, forecast and analysis for the year 2016-2023 of the global neuromorphic chip market.
- Report includes detailed analysis of different segments such as components, applications and end users of the global neuromorphic chip market.
- Identify and understand the strength, opportunities, challenges and threat of the global neuromorphic chip market.
- Covers details analysis of Porters 5 force model and other strategic models.Also covers revenues, market share analysis, competitive landscape analysis of major players of the global neuromorphic chip market.
- Detailed analysis of various the regulatory policies which are affecting the global neuromorphic chip market.
How we are different from others:
At Occams we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global neuromorphic chip market offers detailed analysis of strategic models such as investment vs. adoption model, see saw analysis and others strategic models. Also, the report contains the detailed analysis of application, adoption scenario and decision support for each segment. The report discusses competitive landscape of the global neuromorphic chip market, with giving extensive SCOT analysisof key companies.
Key findings of the global neuromorphic chip market.
- Increasing demand for artificial intelligence and machine learning is adding growth in global neuromorphic chip market.
- North America held highest revenue share in 2016 for neuromorphic chip market and is expected to dominate during the forecast period.
- Signal recognition application is expected to hold the largest market share during the forecast period because of adoption of speech recognition in various sectors such as medical and automotive industries.
- Product launch is the key strategy adopted by players of global neuromorphic chip market.