Press release
Major Market Shift in Neuromorphic Chips Industry: Launch Of Innovative Neuromorphic Development Kit For Enhanced Edge AI Applications
Neuromorphic Chips Market
The neuromorphic chips market has witnessed rapid growth in recent years. It is forecasted to grow from $0.68 billion in 2024 to $0.78 billion in 2025, at a CAGR of 14.8%. The historical growth can be attributed to advancements in integrated circuit performance, increased adoption of speech and biometric recognition, progress in artificial intelligence (AI) and machine learning, and enhanced power efficiency.
The neuromorphic chips market is expected to grow rapidly, reaching $1.24 billion by 2029 at a CAGR of 12.4%. Growth is driven by the demand for neuromorphic computing in defense and aerospace, increased research and development investments, rising IoT adoption, and the demand for edge computing. Key trends include advancements in AI and machine learning, new technological developments, increasing investments, and mergers and acquisitions.
What Factors Are Propelling the Expansion of the Neuromorphic Chips Market?
The rising demand for robotics and automation is set to drive the neuromorphic chips market. Robotics and automation involve utilizing computers, control systems, and IT solutions to operate industrial machinery and processes. Neuromorphic chips enhance robotics and automation by employing brain-inspired computing techniques to boost the efficiency of automated systems. For example, in September 2024, the International Federation of Robotics, a Germany-based nonprofit, reported a 9% increase in industrial robot installations across Europe in 2023, reaching a record 92,393 units. Of these, 80% (73,534 units) were installed in the European Union, marking a 2% rise from the previous year. Therefore, the increasing demand for robotics and automation is propelling the neuromorphic chips market forward.
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Which Businesses Are at the Forefront of Neuromorphic Chips Market Development?
Major companies operating in the neuromorphic chips market report are Samsung Electronics Limited, Lockheed Martin Corporation, Intel Corp., International Business Machine Corporation, IBM Corporation, SK Hynix Inc., Qualcomm, Hewlett Packard Enterprise, Cadence Design Systems Inc., Nepes Corp., Nepes Corporation, CEA Leti, HRL Laboratories LLC, Altium LLC, SynSense AG, Innatera, Brain Corporation, Vicarious FPC Inc., GrAI Matter Labs, Gyrfalcon Technology Inc, Ceryx Medical, Brain chip Holdings Ltd., Numenta, Inc., Koniku, Applied Brain Research, Inc., General Vision Inc., Knowm Inc.
What Are the Latest Innovations in the Neuromorphic Chips Market?
Leading companies in the neuromorphic chips market are focused on advancing neuromorphic development kits for applications in smart wearables and industrial monitoring. Neuromorphic development kits facilitate AI systems that mimic neural processing, offering efficient, low-power sensory data analysis for robotics and IoT applications. For example, in September 2023, SynSense AG, a Switzerland-based neuromorphic intelligence solutions provider, launched the Xylo IMU HDK, a neuromorphic development kit. This kit includes a specialized chip for ultra-low-power motion processing, designed for human movement analysis, industrial monitoring, and human-computer interaction. It incorporates a 3-axis accelerometer, configurable SNN processing, and a power-efficient design, making it suitable for various wearables and monitoring devices.
How Is the Neuromorphic Chips Market Segmented?
The neuromorphic chips market covered in this report is segmented -
1) By Components: Software, Hardware
2) By Function: Signal Processing, Data Processing, Image Recognition, Process optimization
3) By End Use Industry: Aerospace And Defense, Automotive, Healthcare, Industrial, Consumer Electronics, Other End User Industries
Subsegments:
1) By Software: Neuromorphic Programming Environments, Simulation And Modeling Tools, Machine Learning Algorithms For Neuromorphic Systems, Data Processing And Analytics Software, Development And Debugging Tools
2) By Hardware: Neuromorphic Processors, Neuromorphic Sensors, Specialized Integrated Circuits (Ics), Field-Programmable Gate Arrays (Fpgas) For Neuromorphic Applications, Neuromorphic Chip Systems And Platforms
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Where Is the Neuromorphic Chips Market Growth Most Prominent?
North America was the largest region in the neuromorphic chips market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neuromorphic chips market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Neuromorphic Chips Global Market Report?
- Market Size Analysis: Analyze the Neuromorphic Chips Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Neuromorphic Chips Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Neuromorphic Chips Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Neuromorphic Chips Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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