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

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

The Neuromorphic Computinging 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 technology into manufacturing and industrial processes is no longer an option but a necessity. This fourth industrial revolution, known as Industry 4.0, leverages emerging digital technologies and smart automation to create interconnected and intelligent systems. Key technologies such as the Industrial Internet of Things (IIoT), Artificial Intelligence (AI), Augmented Reality (AR), Virtual Reality (VR), and Big Data Analytics are driving this transformation. End-user industries are increasingly adopting these technologies for applications such as image recognition and data mining to gain strategic and operational advantages. 

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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 Computinging Market Research Report

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Research Analysis Overview

The Neuromorphic Computing Market encompasses technologies that mimic the human brain's functionality using synaptic weights, action potentials, and neural networks. This includes various types such as convolutional neural networks, recurrent neural networks, long short-term memory, deep belief networks, generative adversarial networks, and reinforcement learning. Applications span computer vision, speech recognition, machine translation, sentiment analysis, time series analysis, control systems, wearable tech, VR/AR, AGI, cognitive computing, neuromorphic engineering, BCIs, brain-inspired design, neuromorphic architecture, materials, devices, and systems.

Market Research Overview

The Neuromorphic Computing Market is a significant segment of the global healthcare equipment industry, encompassing companies specializing in spiking neural networks, neuromorphic hardware, analog computing, and brain-inspired computing. These technologies, inspired by the human brain, are integral to Artificial Intelligence (AI), Machine Learning (ML), and Deep Learning applications. Technavio, a leading global technology research firm, classifies this market as part of the broader healthcare equipment sector, which encompasses manufacturers of capital equipment, instruments, implants, accessories, and consumables used in disease diagnosis, monitoring, and treatment. The global healthcare equipment market size is determined by the combined revenue generated by these manufacturers. Within the healthcare equipment industry, the Neuromorphic Computing Market segment focuses on the development and commercialization of advanced, differentiated, and clinically tested data-driven devices for various therapy areas.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/