Neuromorphic Chip Market Competitive Landscape and Regional Analysis by 2026

Neuromorphic Chip Market: U.S. Neuromorphic Chip Market Projected to Register High Y-o-Y Growth During the Forecast Period: Global Industry Analysis and Opportunity Assessment, 2016-2026

Technological advancements in the open-ended dominion of Artificial Intelligence (AI) are demanding advanced neuromorphic chips to serve as processors from machine learning and automated reasoning operations.

According to a latest research by Future Market Insights, development of AI systems is fuelling the growth of global demand for neuromorphic chips. Scientists and researchers developing diverse AI platforms are integrating neuromorphic chips to improve smart functioning and reasoning abilities of machines. Governments from several parts of the world are inducing surplus expenditure towards development of AI systems, which is incidentally catalysing the demand for neuromorphic chips in the global tech industry.

In 2015, about US$ 1.5 billion worth of revenues were attained through the global sales of neuromorphic chips. Increasing preference for neuromorphic engineering over conventional computing and a large-scale integration of analogue circuits for improving neurological & biological mimicking in smart machines continues to drive the demand in the global market for neuromorphic chips.

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Future Market Insights’ report, titled "Neuromorphic Chips Market: Global Industry Analysis & Opportunity Assessment, 2016-2026," projects that the global neuromorphic chips market, which is currently valued at an estimated US$ 1.6 billion, will rake in revenues worth US$ 10,814.9 million by 2026 end. According to the report, the size of global neuromorphic chips market will expand exponentially – at 20.7% CAGR. Technical hurdles such as developing complex algorithms, and a sluggish commercialization of neuromorphic chips inhibits the market’s growth to some extent. And, high costs associated with the pricing as well as production of neuromorphic chips remains a key challenge for the key players in global neuromorphic chips market.

Regional Forecast of Global Neuromorphic Chips Market

Key findings assessed while analysing the neuromorphic chips market across several regions in the world include,

North America’s neuromorphic chips market is projected to be valued at nearly US$ 3 billion by the end of forecast period.

In 2015, Western Europe recorded US$ 304.5 million revenues through sales of neuromorphic chips, rendering it the second-most dominant region in the global market after North America.

Nevertheless, the neuromorphic chips revenues attained in Asia Pacific excluding Japan (APEJ) region will increase at the fastest growth rate, exhibiting a stellar 23.6% CAGR through 2026.

Following APEJ, the Japanese neuromorphic chips market is estimated to be valued over US$ 1.6 billion by 2026-end.

Demand for neuromorphic chips in Middle East & Africa will be comparatively less, while the expansion of neuromorphic chips market size in Eastern Europe and Latin America is predicted to be more than 17% CAGR throughout the projection period.

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Global Neuromorphic Chips Market: Competitive Backdrop

Industry leaders and tech giants such as IBM Research Inc. and Intel Corporation are participating in the growth of global neuromorphic chips market. Being a leading developer of advanced integrated platforms in digital technology has favoured Intel Corporation to engaging in designing, manufacturing & computing of neuromorphic chips. In 2016, IBM Research used phase-change materials to advance the data storing & processing capacities of neurons in analog chips. Besides these, companies such as Qualcomm Technologies, Inc., BrainChip Holdings Ltd., HRL Laboratories, LLC, General Vision Inc., Hewlett-Packard Labs, and Knowm Inc., are leading participants shaping up the competitive landscape of global neuromorphic chips market.

Transparency Market Research (Tmr) is a market intelligence company, providing global business information reports and services.