Latest News- Neuromorphic Computing Market: Hardware is expected to lead the Component segment during 2025-2029

The Neuromorphic Computing Market is being driven by Rising demand for memory density and high-processing power devices

The Neuromorphic Computing Market is expected to grow at a CAGR of 52.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 901 million. In today's business landscape, the integration of advanced technologies into manufacturing and industrial processes is revolutionizing industries, a phenomenon known as Industry 4.0. This transformation is driven by the adoption of emerging digital technologies, including the Industrial Internet of Things (IIoT), artificial intelligence (AI), augmented reality (AR), virtual reality (VR), and big data analytics. These technologies enable the creation of connected and smart systems, leading to significant strategic and operational advantages. End-user industries are increasingly utilizing sensors, IoT, AI, and machine learning (ML) for image recognition and data mining to optimize production and enhance efficiency. The implementation of these advanced technologies is a positive indicator of Industry 4.0's potential to drive innovation and growth. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Component
  • Hardware
  • Software
• Type
  • Edge computing
  • Cloud computing
• End-user
  • Consumer electronics
  • Automotive and transportation
  • Healthcare
  • Industrial automation
  • Aerospace and defense
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Asia
    • China
    • Japan
    • South Korea
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising demand for memory density and high-processing power devices
• Shift from edge computing to cloud computing
• Increase in demand for artificial intelligence and machine learning in end-user industries

However, the market also witnesses some limitations, which are as follows:

• Infrastructural and integration issues
• Lack of skilled workforce for neuromorphic computing chips
• Complex designing of neuromorphic computing chips

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Market Scope in Neuromorphic Computing Market Research Report

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Research Analysis Overview

Neuromorphic computing, inspired by the human brain, utilizes neural networks, including convolutional and recurrent types, to process information through synaptic weights and action potentials. Advanced models like long short-term memory, deep belief networks, generative adversarial networks, and reinforcement learning are employed in various applications such as computer vision, speech recognition, machine translation, sentiment analysis, time series analysis, control systems, wearable technology, virtual reality, augmented reality, artificial general intelligence, cognitive computing, neuromorphic engineering, brain-computer interfaces, brain-inspired design, neuromorphic architecture, neuromorphic materials, neuromorphic devices, and neuromorphic systems.

Market Research Overview

The Neuromorphic Computing Market is a segment of the global Healthcare Equipment Market, encompassing companies specializing in R&D of neuromorphic hardware, spiking neural networks, and brain-inspired computing. These technologies, including analog computing and artificial intelligence applications like machine learning and deep learning, are integral to this sector. Technavio sizes the Healthcare Equipment Market by aggregating manufacturers' revenues from diagnostic equipment and devices, spanning various therapy areas. The Healthcare Equipment Industry encompasses Devices, including advanced, differentiated, and clinically tested data-driven devices.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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