The Neuromorphic Computing Market is segmented by Component (Hardware and Software), Type (Edge computing and Cloud computing), and Geography (North America, Europe, Asia, and Rest of World (ROW)). As per the Global Forecast research report 2024-2028 published by Technavio, the market size is estimated to grow by USD 96.18 million, at a CAGR of 24.13% during the forecast period. There are several companies that are contributing to the market as per this report. Advent of Industry 4.0 in end-user industries .
The neuromorphic computing market's hardware segment experiences significant growth due to increasing demand for high-performance devices and advanced AI and ML applications. Neuromorphic computing chips, modeling neurological networks, are increasingly adopted by industries. Manufacturers are responding to intense competition by developing technologically superior chips, integrating edge and quantum computing, and robotics for synchronized functionality.
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The North American market holds significant importance in the neuromorphic computing industry due to substantial R&D investments from local businesses and a highly skilled integrator base. With key market players based in the US, this region has been a major contributor to memristor applications, including neuromorphic computing. The increasing demand for advanced consumer electronics, such as smartphones, PCs, and intelligent home gadgets, further bolsters the market growth. As neuromorphic computing advances towards cost-effective distributed sensing and processing solutions, the demand for neuromorphic computing memory devices is anticipated to surge during the forecast period. Keywords: Neuromorphic Computing Market, North America, R&D Investment, Integrator Base, Memristor Applications, Consumer Electronics, Intelligent Home Gadgets, Distributed Sensing, Processing Solutions, Neuromorphic Computing Memory Devices.
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The Neuromorphic Computing Market is experiencing significant growth due to the increasing demand for next-generation semiconductors and accelerators that can deliver brain-like processing abilities. Companies like Tenstorrent are leading this innovation with their AI-based chips, designed using In-memory computing and Spiked Neural Networks. These advanced processing units are capable of mimicking the human brain's functionality, making them ideal for various applications, including In-speech recognition, Continuous e-learning, Real-time data streaming, and more. The Neuromorphic Computing Market is expected to make a substantial impact on several industries, such as Healthcare, Consumer Electronics, Aerospace and Defense, and more. Applications of this technology include advanced Self-driving cars, Drones, Robotics, and Autonomous Systems. The Department of Energy is also investing in this technology to develop energy-efficient NeuRRAM, which can revolutionize deep learning applications. Intel and other industry leaders are also exploring piping and transistor technologies to enhance the capabilities of Neuromorphic Computing. Overall, the Neuromorphic Computing Market is set to transform the way we process information and solve complex problems.
The Neuromorphic Computing Market, as per Technavio, falls under the broader umbrella of the Global Healthcare Equipment Market. This market encompasses entities involved in the research and development of various product categories, such as capital equipment, instruments, implants, accessories, and consumables. The market size is determined by the combined revenue generated by manufacturers of diagnostic equipment and devices utilized across diverse therapy areas. The Healthcare Equipment Industry segmentation includes the Devices sector, which houses advanced, differentiated, and clinically validated data-driven devices. - The Neuromorphic Computing Market is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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