NEW YORK, April 30, 2024 /PRNewswire/ — The global neuromorphic computing market size is estimated to grow by USD 96.18 million from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 24.13% during the forecast period. North America is estimated to contribute 40%. to the growth of the global market.
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Technavio has announced its latest market research report titled Global Neuromorphic Computing Market 2024-2028
The Neuromorphic Computing Market report forecasts market growth by revenue at global, regional & country levels from 2018 to 2028.
Region Outlook
North America
Europe
Asia
Rest of World
1. North America – The North American market is set to play a major role in the global growth of neuromorphic computing, contributing around 40% during the forecast period. This is due to the region’s high R&D investments and a well-informed integrator base for neuromorphic computing chips.
Notably, the US hosts many key players and leads in memristor applications like neuromorphic computing. The demand for advanced consumer electronics such as smartphones, PCs, and smart home devices is also rising in North America. Consequently, as neuromorphic computing evolves to provide efficient and affordable distributed sensing and processing solutions, its market in North America is expected to flourish.
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Research Analysis
In today’s tech-driven world, Neuromorphic Computing is revolutionizing various industries with its cutting-edge applications. From self-driving cars to healthcare and aerospace, the integration of deep learning techniques and next-generation semiconductors is reshaping the landscape.
Companies like Intel, Alibaba, and Tenstorrent are spearheading the development of AI-based chips and accelerators, enabling faster processing units and enhanced memory capabilities. NeuRRAM, a breakthrough in neuromorphic computing, promises brain-like processing abilities, paving the way for more efficient autonomous systems and robotics.
In the healthcare sector, real-time data streaming is enhancing diagnostics, while in aerospace and defense, spiked neural networks are bolstering security measures. Moreover, continuous e-learning platforms are leveraging in-speech recognition for personalized education.
With the support of the Department of Energy and advancements in graphen technology, the Neuromorphic Computing market is witnessing remarkable growth. In-memory computing solutions are streamlining tasks across various domains, from piping systems to software segments, offering efficient and reliable solutions for today’s dynamic business environment.
Market Overview
The Neuromorphic Computing Market is buzzing with innovation and potential applications across various sectors like Aerospace and Defense, Healthcare, and more. With advancements in transistors, accelerators, and next-generation semiconductors, the market is witnessing a revolution.
From autonomous systems to self-driving cars and robotics, the integration of artificial intelligence (AI) is reshaping industries. NeuRRAM technology is a game-changer, enhancing brain processing ability and memory in processing units.
Companies like Intel, Alibaba, and Tenstorrent are at the forefront, developing AI-based chips and leveraging graphen for improved performance. Real-time data streaming and continuous e-learning further augment the market’s growth.
In-speech recognition and spiked neural networks are paving the way for efficient communication and processing. Moreover, the Department of Energy is investing heavily in in-memory computing, fueling advancements in AI and neuromorphic computing.
With the rising demand for efficient and powerful computing solutions, the Neuromorphic Computing Market is poised for significant growth, driving innovation and transformation across industries.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio