Research Nester’s recent market research analysis on “Neuromorphic Computing Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global neuromorphic computing market in terms of market segmentation by offering, deployment, application, end users, and by region.

Growing Demand for Automated Vehicles Made Using Artificial Intelligence and Machine Learning to Promote Global Market Share of Neuromorphic Computing

The global neuromorphic computing market is estimated to grow majorly on account of the increased installation of self-driving technology in automobiles and growing research and development for level 5 automation in automobiles. Also, the rising use of neuromorphic chips in the production of miniature and small electronic devices to achieve customer compliance is projected to fuel market growth in the coming years. The enhanced application of neuromorphic computing in the media and entertainment sectors to analyze the buying patterns of consumers is driving the market growth.

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The market expansion is also attributed to the increasing use of voice recognition devices and speech assistants in smart devices including smartphones, computers, and laptops. The increasing application of neuromorphic chips in the cameras such as drones is estimated to augment the market growth as they sense the activities and move so fast resembling human brains. The enhancement in the market size is attributed to the utilization of artificial intelligence and machine learning technology in industrial robots to reduce labor costs and the risk of accidents during loading and unloading works in heavy machinery manufacturing sectors.

Some of the major growth factors and challenges that are associated with the growth of the global neuromorphic computing market are:

Growth Drivers:

- Hike in the Use of Neuromorphic Technology in the Drones and Chatterbots
- Growing Demand for Biological Like Robotics and Cognitive Robots with Intelligence of the Human Brain
Challenges:

The limited opportunities for research and development of neuromorphic computing technology and slow deployment chances, along with the rise in the complexity of algorithms ad backed operations are some of the major factors anticipated to hamper the global market size of neuromorphic computing. There is an increasing need for constant advancement in hardware and software systems used in neuromorphic computing to stay updated but the lack of funds, skilled professionals, and time-consuming process is hindering the growth of the market.

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By end-users, the global neuromorphic computing market is segmented into aerospace, consumer electronics, automotive, IT & telecom, military & defense, industrial, and medical. The medical segment is to garner a noteworthy share of the market by the end of 2035. There has been an escalating demand for wearables across the world that detect the change in heart rate, cholesterol, and blood pressure of the individual. In addition, an increasing application of neuromorphic computing in medical diagnostics to achieve accurate and speedy results is poised to rise the growth opportunities of the market segment. The progression of the market segment is attributed to the wide variety of applications so computing in the medical field such as image recognition for the early detection of diseases using artificial neural networks that mimic the human brain in processing information.

By region, the Asia Pacific neuromorphic computing market is to generate substantial revenue by the end of 2035. This growth is anticipated by increasing applications of advanced technologies such as artificial intelligence, data analytics, the Internet of Things, and others in modern software. The implementation of these technologies in electronic devices to develop progressed cognitive products that work on their own with the use of neuromorphic chips and neuromorphic computing is driving the market growth in the region. The growing IT sector in the region and the high usage of the internet, as well as other smart electronic devices and appliances, are propelling the market size.

This report also provides the existing competitive scenario of some of the key players of the global neuromorphic computing market which includes company profiling of IBM Corporation, Intel Corporation, Brainchip Holdings Limited, Qualcomm Technologies, HP Enterprise, HRL Laboratories LLC, Flow Neuroscience AB, Innatera Nanosystems B.V., Aspinity, Inc., Samsung Electronics Limited, and others.

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