A complete analysis of the global market for neuromorphic chips is provided in a recent market research report by Future Market Insights. The title of the paper is "Neuromorphic Chip Market: Global Industry Analysis and Opportunity Assessment, 2016-2026." The market, which was valued at US$1,420 million in 2015, is predicted to grow at a promising CAGR of 20.7% from 2016 to 2026, reaching a revenue opportunity of US$10,810 million by the end of that year.

The promise of a major gain in processing speed, operational prowess, and greater appropriateness for artificial intelligence applications is accelerating the development of neuromorphic processors. The tremendous expansion of these chips' potential uses in fields including automotive, defence and military, aerospace, and machine learning is the key factor expected to drive the global neuromorphic chip market in the next few years.

The North American market is anticipated to become the most lucrative over the course of the report's forecast period in terms of incremental potential among the various regional markets examined. Growth prospects are abundant in the area because of the booming consumer electronics, aerospace, and automotive sectors. Additionally, the area is home to some of the top chipmakers and tech firms in the world, making it the centre for technological advancements in the field of neuromorphic chips.

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The report states that the North America neuromorphic chip market will exhibit a promising 19.7% CAGR over the report’s forecast period, representing an incremental opportunity of US$2,300 mn from 2016 to 2026. If the numbers hold true, the market will rise from a valuation of US$400 mn in 2015 to US$2,700 mn by the end of 2026. Several industries in the region are promoting the convergence advanced, new technologies such as neuromorphic chips with existing technologies so as to improve productivity and efficiency of operations.

One of the most innovative usages of neuromorphic chips is being witnessed in the field of unmanned drones. Neuromorphic chips in drones are being tested for their ability in enabling drones to recognize any defined space visited earlier by storing and processing signal patterns emerging from surroundings of that space.

In terms of application, the report segments the global neuromorphic chip market into image recognition, data mining, and signal recognition. The key end-use industries of neuromorphic chips examined in the report are aerospace and defence, automotive, healthcare, consumer electronics, and industrial.

Demand is expected to be promising across all these end-use sectors in the next few years, with the automotive and defence and aerospace sectors expected to remain at the forefront in terms of adoption of neuromorphic chips in the next few years. In the automotive industry, neuromorphic chips, in conjunction with technologies such as signal processing, could help drivers in understanding their immediate surroundings better thus helping them take better decisions.

Other industries are also increasingly representing growth opportunities for neuromorphic chips and are expected to help the market expand at a promising pace over the report’s forecast period. The vendor landscape has started becoming crowded and companies, with the aim of strengthening their hold on the market and making the most of available opportunities, have started focusing on strategic collaborations. Some of the leading companies presently operating in the market are IBM Corporation, Hewlett Packard Labs, HRL Laboratories, LLC, General Vision, and Intel Corporation.

Leading market players are planning to dominate the global and regional markets through new strategic tie-ups and innovations 

• IBM was awarded 7,355 patents in the US in 2015, putting it in the leading position for the 23rd consecutive year
• Intel Corporation invested US$ 12.1 Bn on RD in 2015. Such high RD investments allow the company to develop leading proprietary technologies and attain a strong leadership position.
• In September 2016, General Vision collaborated with Mando-Hella Electronics Corp. – a tier1 South Korean automotive systems manufacturer, to develop advanced driver assistance and monitoring systems integrated with NeuroMem technology, enabling advanced image recognition and multisensory pattern recognition
• Hewlett Packard Labs focusses on transferring advanced technologies into innovative products in order to propel the company’s growth, maintain industry leadership and competitive advantage
• HRL Laboratories focusses on widening its products portfolio reach into new application areas, which helps the company gain a competitive edge
  

Global Neuromorphic Chip Market: Market Segmentation 

By Application

• Image Recognition
• Signal Recognition
• Data Mining
• Others

By Vertical

• Aerospace Defence
• Automotive
• Consumer Electronics
• Healthcare
• Industrial
• Others

By Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific Excl. Japan (APEJ)
• Japan
• Middle East Africa (MEA)
  

About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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