DUBLIN--(BUSINESS WIRE)--May 4, 2021--

The "Neuromorphic Chip Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The Neuromorphic Chip Market is valued at USD 1.952 Billion in 2020, and is expecetd to reach USD 7.388 Billion in 2026, registering a CAGR of 24.51% over the forecast period 2021 - 2026.

Companies Mentioned

  • Intel Corporation
  • SK Hynix
  • IBM Corporation
  • Samsung Electronics Co. Ltd. (Samsung Advanced Institute of Technology)
  • GrAI Matter Labs
  • Nepes Corporation
  • General Vision Inc.
  • Gyrfalcon Technology Inc.
  • BrainChip Holdings Ltd
  • Vicarious FPC Inc.
  • aiCTX AG

Key Market Trends

Automotive is the Fastest Growing Industry to Adapt Neuromorphic Chip

  • The automotive industry is one of the fastest-growing industries for neuromorphic chips. All the premium car manufacturers are investing heavily to achieve L5 of autonomous technology; which, in turn, is anticipated to generate huge demand for AI-powered neuromorphic chips.
  • Due to the complexity of roadway data integration, cars' automated systems need more AI than aircraft. According to the Victoria Transport Policy Institute, by 2030, 20-40% of the automated vehicles will be available in the moderate-to-premium price category, which indicates that more volume of integrated neuromorphic chips is likely to be sold by the AI chip manufacturers.
  • The neuromorphic chip manufacturers are focusing on advanced driver assisted system (ADAS) and autonomous vehicle (AV) applications to enhance their market reach. Recently, in October 2017, BrainChip Holdings Ltd supplied neuromorphic chip to one of the top automobile companies in Germany, to test its ADAS capability.
  • Intel's Loihi neuromorphic chip has 128 cores and 130,000 neurons. It's capable of crunching AI algorithms up to 1,000 faster and 10,000 times more efficiently than regular CPUs for use with autonomous driving, electronic robot skin, prosthetic limbs and more.

North American is Expected to Hold Major Share over the Forecast Period

  • North America is currently one of the major market shareholders for neuromorphic chips with the presence of top vendors in the United States. The latest technological breakthroughs have assisted in the advancement of new x-ray tubes, which can make the overall process more efficient and significantly improve accuracy in various applications.
  • There have been a series of new product launches, mergers, and acquisitions in North America to take advantage of this opportunity. The major driver behind the investments has been the continuous evolution and application of new technologies to unlock enormous volumes that were previously considered non-commercial. With these series of investments, the North American region is likely to hold the major share of the market over the forecast period.
  • The United States Air Force Research Lab (AFRL) in Rome, N.Y. is working to develop neuromorphic computing for possible fielding on a drone in the next five years. AFRL is looking to use artificial intelligence (AI) and machine learning (ML) to boost processing power and give military operators analytical results, not raw data, to speed wartime decision making..
  • On July 19, 2020, AFRL and IBM officially unveiled Blue Raven, which was called "the world's largest neuromorphic digital synaptic supercomputer" by AFRL. In the present scenario, challenges exist in the mobile and autonomous realms due to the limiting factors of power, weight, and size of computing devices commonly referred to as SWaP. The experimental Blue Raven, with its end-to-end IBM TrueNorth ecosystem, is expected to aim to improve on the state-of-the-art by delivering the equivalent of 64 million neurons and 16 billion synapses of processing power while only consuming 40 watts - equivalent to a household light bulb.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS

4.1 Market Overview

4.2 Industry Attractiveness - Porter's Five Forces Analysis

4.2.1 Threat of New Entrants

4.2.2 Bargaining Power of Buyers/Consumers

4.2.3 Bargaining Power of Suppliers

4.2.4 Threat of Substitute Products

4.2.5 Intensity of Competitive Rivalry

4.3 Industry Value Chain Analysis

4.4 Emerging Use Cases for Neuromorphic Chips (Algorithmic Research, Pattern Classification, Cognitive Tasks for Intelligent Cognitive Assistants, and Neuroscience Research)

5 MARKET DYNAMICS

6 Market Drivers

6.1 Growing Demand for Artificial Intelligence-based Microchips

6.2 Emerging Trend of Combining the Concept of Neuroplasticity with Electronics

7 Market Restraints

7.1 Need for Significant Initial Investment

7.2 Need for High Levels of Precision and Complexity in Hardware Design

8 MARKET SEGMENTATION

8.1 End User Industry

8.1.1 Financial Services and Cybersecurity

8.1.2 Automotive (ADAS/Autonomous Vehicles)

8.1.3 Industrial (IoT Ecosystem, Surveillance, and Robotics)

8.1.4 Consumer Electronics

8.1.5 Other End-user Industries (Medical, Space, Defense, etc.)

8.2 Geography

8.2.1 North America

8.2.2 Europe

8.2.3 Asia Pacific

8.2.4 Rest of the World

9 COMPETITIVE LANDSCAPE

9.1 Company Profiles

10 INVESTMENT ANALYSIS

11 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/4cmj20

View source version on businesswire.com:https://www.businesswire.com/news/home/20210504005631/en/

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KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY HARDWARE

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 05/04/2021 05:39 AM/DISC: 05/04/2021 05:39 AM

http://www.businesswire.com/news/home/20210504005631/en

Copyright Business Wire 2021.

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