With the emergence and long-term Impact of COVID-19, Global Neuromorphic Computing Market to reach USD 16280 million by 2029
Bizwit Research & Consulting LLP’s Recent Analysis on Global Neuromorphic Computing Market is poised to raise up to USD 16280 Million by 2029. The term “neuromorphic computing” describes computer frameworks structured after the nerve and brain systems of humans. Neuromorphic Computing enables the highly ranged and proficient functions of a human brain in a machine. Neuromorphic computers can be added to current computers that carry out deep learning for artificial intelligence. For its Operation, Neuromorphic Computing uses an Artificial neural network. ANN replicates the structure of the human brain and the Neurons in artificial neural networks are linked to one another in different layers, just similar to a real Brain. The rise in the demand for Artificial Intelligence and high performance ICs and increasing investments by key market players may lead to the expansion of the Neuromorphic Computing Market.
The key regions considered for the Global Neuromorphic Computing Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is dominating the market with the highest revenue and the use of speech recognition technology powered by AI which is among the major trends in the area. As a result of the integration, its speech recognition algorithms could be improved to deliver superior voice quality. Asia Pacific seems to have the highest growth rate in the Neuromorphic Computing market. With the increasing investment in AI, Companies focusing on adopting new trends and developing technologies in the area.
The global Neuromorphic Computing market is highly competitive owing to the presence of several key manufacturers such as Brain Corporation, CEA-Leti, General Vision Inc, Hewlett-Packard Enterprise (HPE), HRL Laboratories LLC, International Business Machines Corporation, Intel Corporation, Knowm Inc., Numenta and Qualcomm Technologies, Inc.
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Global Neuromorphic Computing Market Size study & Forecast, by Offering (Hardware, Software) by Deployment (Edge, Cloud), by Application (Image Recognition, Signal Recognition, Data Mining), by Vertical (Aerospace, Military & Defense, Automotive, Consumer Electronics, Industrial, Medical, IT & Telecommunication and Others) and Regional Analysis, 2022-2029.
Key findings of the study suggest:
- Global Neuromorphic Computing Market is anticipated to grow with a healthy growth rate of more than 21.2% over the forecast period 2022-2029.
- In the Offering segment, Hardware emerged out as the leading market segment in 2021.
- North America is anticipated to drive regional growth owing to the use of speech recognition technology powered by AI which is among the major trends in the area. As a result of the integration, its speech recognition algorithms could be improved to deliver superior voice quality.
- Asia-Pacific is expected to grow at higher rate followed by North America during 2022-2029.
Bizwit Research & Consulting has considered following segments for the study:
- Image Recognition
- Signal Recognition
- Data Mining
- Aerospace, Military & Defense
- Consumer Electronics
- IT & Telecommunication
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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