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Neuromorphic Chip Market Is Likely to Experience a Tremendous Growth in near Future

Neuromorphic Chip Market Is Likely to Experience a Tremendous Growth in near Future

The global neuromorphic chip market revenue was around US$ 87.9 million in 2022 and is estimated to reach US$ 7.1 billion by 2032, growing at a compound annual growth rate (CAGR) of 55.8% during the forecast period from 2023 to 2032.

Neuromorphic chips are specialized microprocessors that are created to imitate the architecture and function of the human brain. These chips process information in a highly energy-efficient and parallel manner by using artificial synapses and neurons in a network. Neuromorphic chips are utilized in applications like robotics, machine learning, and cognitive computing, specifically for tasks including sensory perception, pattern recognition, and decision-making.

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Factors Influencing Market Growth

– The neuromorphic chip market is anticipated to notice notable growth because of the rise in the adoption of neuromorphic chips in the industrial sector, the increase in several wearable devices, and the surge in demand for neuromorphic chips for research, and big data analysis in bioinformatics and pharmaceutical applications.

– The high manufacturing cost restricts the expansion of the neuromorphic chip market.

– The growing demand for AI systems is anticipated to deliver lucrative opportunities for the growth of the market during the forecast period.

Impact of COVID-19

The impact of the COVID-19 pandemic had a significant influence on the neuromorphic chip market. The global economic disturbance and slowdown in supply chains forced by travel restrictions and lockdowns led to the drop in demand for neuromorphic chips, specifically in industries like telecom and IT and aerospace and defense. This resulted in delayed projects and a reduction in investments in network infrastructure, influencing the growth of the market.

Regional Analysis

In 2022, North America dominated the global neuromorphic chip market in terms of revenue and is anticipated to grow at the highest growth rate during the forecast period because of the strong presence of defense, IT, aerospace, telecommunication, and other industries. Technological breakthroughs have helped in the development of new X-ray tubes, which can make the overall procedure more efficient and significantly enhance precision in different applications.

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Leading Companies

The leading prominent companies profiled in the global neuromorphic chip market are: –

– IBM Corporation
– HRL Laboratories, LLC
– SynSense
– General Vision Inc.
– GrAI Matter Labs
– SK Hynix Inc.
– Qualcomm Incorporated
– BrainChip, Inc
– Samsung Electronics Co. Ltd
– Intel Corporation
– Other prominent key players

Segmentation Outline

The global neuromorphic chip market segmentation focuses on End user and Region.

Segmentation based on End user

– Healthcare
– Others
– Consumer Electronics
– Automotive
– IT and Telecom
– Aerospace and Defense
– Industrial

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Segmentation based on Region

– North America
– The U.S.
– Canada
– Europe
– UK
– Germany
– France
– Italy
– Spain
– Netherlands
– Rest of Europe
– Asia-Pacific
– China
– Japan
– India
– Australia
– South Korea
– Singapore
– Rest Of Asia-Pacific
– LAMEA
– Latin America
– Middle East
– Africa

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Table of Content:

  • Report Overview
  • Global Growth Trends
  • Competition Landscape by Key Players
  • Data Segments
  • North America Market Analysis
  • Europe Market Analysis
  • Asia-Pacific Market Analysis
  • Latin America Market Analysis
  • Middle East & Africa Market Analysis
  • Key Players Profiles Market Analysis
  • Analysts Viewpoints/Conclusions
  • Appendix

Key Questions Market Research and Analysis Report

What is the current market size, both in terms of value and volume?

What is the historical growth rate of the market, and what are the projected growth rates for the future?

Who are the major players in the market, and what is their market share?

What are the market trends and dynamics influencing the industry?

What are the key drivers of market growth?

What are the challenges and barriers faced by market participants?

What are the emerging opportunities in the market?

What is the competitive landscape of the market?

What are the consumer preferences, behaviors, and buying patterns within the market?

What is the market segmentation, and how are different market segments performing?

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(*Note: The historical years and projected period in the report are flexible and can be tailored upon request. Additionally, the scope of the published report is adjustable to meet specific requirements, and customized analyses based on particular geographies or countries can be included as part of the customization.)

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