Market Research Of Global Neuromorphic Computing Market By Knowledge Sourcing Intelligence


INTRODUCTION
The neuromorphic computing market was valued at US$28.288 million in 2017 and is projected to expand at a CAGR of 51.19% over the forecast period to reach US$337.819 million by 2023. The major factors driving the growth of the market are increasing the use of artificial intelligence technology in various applications and its ability to improve the performance of the integrated chips. Neuromorphic computing uses a similar architecture of a human brain so as to leverage its strength to improve the computing power of CPU’s and therefore improve the efficiency of artificial intelligence systems. Geographically, North America and Europe held a significant market share in 2017 owing to increasing expenditure on research and development to make advancements in artificial intelligence by machine learning and quantum computing. 

The demand for neuromorphic computing in the Asia Pacific region will be driven by increasing research and development expenditure on robotics automation. The Middle East and Africa and South America are projected to grow at a moderate rate over the forecast period. Market Research is done by the knowledge sourcing industry due to the huge scope with the respective industry.

global neuromorphic computing market
Sample view of global neuromorphic computing market share

NEUROMORPHIC COMPUTING MARKET BY APPLICATION

By application, the neuromorphic computing market is segmented as data processing, image processing, signal processing, and object processing. The data processing segment is anticipated to grow significantly on account of the growing competitive environment leading to firms focusing on reducing the speed of data processing. Moreover, the focus on real-time data analysis is leading to the increasing use of neuromorphic platforms for image processing. 


global neuromorphic computing market
Sample view of global neuromorphic computing market share

DATA PROCESSING

The neuromorphic computing market for data processing is projected to grow at a CAGR of X.XX%, rising from US$XX.XX million in 2017 to US$XX.XX million in 2023. The quantity of digital data being used by the different organizations is increasing globally as the trend of digitalization increases. Simultaneously, the growing competitive environment is leading to different firms investing heavily to improve the speed of data processing and its ability to accurately provide information that could enable the organization to raise their margins. Neuromorphic computing has the ability to significantly improve the speed of processing a large quantity of data. Moreover, it tends to relatively reduce the power requirement for data processing operations as compared to conventional data processing platforms. In March 2018, Eta Computers Inc. launched the neuromorphic platform for low power machine intelligence at the edge. Thus, the ability to significantly and efficiently increase the speed of data processing will drive the neuromorphic computing market for data processing during the forecast period. 

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