The neuromorphic chip is a new, miniaturized microchip that takes inspiration from the actual human mind to recreate its complex thought processing algorithms and information processing systems. The human mind processes information rapidly and stores it in memory with more than 100 billion synaptic neurons constantly communicating with each other through over 100 gigabytes of synapses, which constitute the connecting pathways. When information is retrieved by the brain, it only requires about 10ms to retrieve the data, a speedy process compared to the evolution of the Human Brain (which was found to be much slower than the previously believed, thinking machines, which had a much larger number of neurons). A neuromorphic chip made out of Nano photonics will allow scientists to control and manipulate matter at a molecular level. Scientists believe that they may be able to create computers that are as small as a single atom. In addition, this type of chip may also be used to control tissue in a non-invasive manner.

Market Dynamics:                                             

Increasing demand for machine learning and artificial intelligence is expected to drive growth of the global neuromorphic chip market during the forecast period. Machine learning and artificial intelligence has been used in diverse range of end-use sectors and applications including automobile, healthcare, consumer service, disease mapping, social media monitoring, and etc. Neuromorphic computing is designed to emulate human brain capabilities, which in turn, has increased the importance of machine learning and artificial intelligence.

Integration of smart machines is expected to propel the global neuromorphic chip market growth over the forecast period. Smart machines are based on cognitive computing and artificial intelligence and have emerged as major trends across the globe. Smart machine manufacturers are integrating neuromorphic chips into their systems, in order to enhance overall performance. Furthermore, the ability of these systems to learn from their surroundings and interactions and respond suitably without the need for preprograming is encouraging the adoption of these smart machines in lieu of conventional machines.

Moreover, cross-industry partnerships and collaborations is expected to accelerate growth of the global neuromorphic chip market growth over the forecast period.

Key features of the study:

• This report provides in-depth analysis of the neuromorphic chip market, and provides market size (US$ Million and compound annual growth rate (%) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global neuromorphic chip market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include IBM Research, Inc., Knowm Inc., Intel Corp., BrainChip Holdings Ltd., General Vision Inc., HRL Laboratories, LLC, Qualcomm Technologies Inc., and Hewlett Packard Labs.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global neuromorphic chip market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global neuromorphic chip market.

Detailed Segmentation:

• Global Neuromorphic Chip Market, By Application
  • Image Recognition
  • Single Recognition
  • Data Mining
  • Other
• Global Neuromorphic Chip Market, By Vertical
  • Aerospace & Defence
  • Automotive
  • Consumer Electronics
  • Healthcare
  • Industrial
  • Other
• Global Neuromorphic Chip Market, By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
  • IBM Research, Inc.
  • Knowm Inc.
  • Intel Corp.
  • BrainChip Holdings Ltd.
  • General Vision Inc.
  • HRL Laboratories, LLC
  • Qualcomm Technologies Inc.
  • Hewlett Packard Labs.