Neuromorphic Computing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

Albany, NY -- (SBWire) -- 01/13/2017 --The global market for neuromorphic computing is likely to witness a robust rise in the coming years, states a report by Transparency Market Research (TMR). The study, titled "Neuromorphic Computing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016–2024," further states that the increasing application of artificial intelligence is expected to influence the demand for neuromorphic computing greatly across the world.

According to the study, the growing awareness among consumers regarding the neuromorphic computing technology has increased the replacement of Von Neumann chips with neuromorphic chips, leading to an accelerated adoption of neuromorphic computing, globally. However, the lack of research and development activities, on account of the required capital investments and advanced technologies, together with the complex process of designing and production of neuromorphic chips likely to inhibit the market's growth to some extent over the next few years, notes the study.

Broadly, the global market for neuromorphic computing can be studied on the basis of the application, end user, and the geography. Based on the application, the market can be categorized into signal processing, image processing, data processing, and object detection. As per the report, the signal processing segment is likely to witness significant growth in the coming years due to the escalating demand for audio and signal processing applications, globally.

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By end user, the market can be classified into medical and healthcare, consumer electronics, automotive, and military and defense. The report states that the consumer electronics segment is expected to remain the key consumer for neuromorphic computing over the forecast period. With the rising usage of neuromorphic computing in self-driven and smart vehicles, the automotive segment is also anticipated to offer lucrative growth opportunities to market participants.

Geographically, the worldwide market for neuromorphic computing can be segmented into Asia Pacific, Eastern Europe, Western Europe, Latin America, North America, and the Middle East and Africa. North America has surfaced as the leading contributor to this market, thanks to the presence of several leading neuromorphic chip manufacturers in the U.S. Over the forthcoming years, the market is projected to gain momentum in Asia Pacific and Latin America due to the increasing trend of automation in countries such as India, Brazil, China, and South Korea., states the research report.

The report also presents a competitive analysis of the global market for neuromorphic computing. Hewlett-Packard, IBM Corp., Samsung Electronics Co. Ltd., Qualcomm Inc., Intel Corp., Brain Corp., HRL Laboratories, General Vision Inc., Vicarious, Knowm Inc., Numenta, and CEA-Leti are some of the leading market players mentioned in this research study.