Neuromorphic Chip Market Size, Share, Industry Trends and Forecast to 2030

Neuromorphic Chip Market Size & CAGR (2021)

The global neuromorphic chip market is expected to have a growth rate of 12.5% CAGR from 2021 to 2030. The market is anticipated to reach a size of USD 5.8 billion by 2028.

COVID-19 Impact on Neuromorphic Chip Market

The COVID-19 pandemic has had a mixed impact on the neuromorphic chip market. On one hand, the disruptions caused by the pandemic led to a slowdown in manufacturing and supply chain operations, affecting the market growth. On the other hand, the increased demand for AI and machine learning technologies in various sectors, such as healthcare, finance, and logistics, has created new opportunities for the neuromorphic chip market.

Neuromorphic Chip Dynamics

The neuromorphic chip market is driven by the increasing adoption of artificial intelligence and machine learning technologies across various industries. Neuromorphic chips offer significant advantages in terms of power efficiency, speed, and scalability, making them ideal for applications such as robotics, autonomous vehicles, and IoT devices.

Segments and Related Analysis

The neuromorphic chip market can be segmented based on technology type, application, and end-user industry. The major technology types include memristors, spiking neural networks, and neuromorphic processors. The key application areas include image recognition, speech recognition, and autonomous driving, while the main end-user industries are healthcare, automotive, and consumer electronics.

By Region Analysis

In terms of regional analysis, North America is expected to dominate the global neuromorphic chip market, followed by Europe and Asia Pacific. The presence of major technology companies, research institutions, and government support for AI initiatives are key factors driving the growth of the market in these regions.

Key Market Players and Competitive Landscape

Some of the key players in the neuromorphic chip market include Intel Corporation, IBM Corporation, Qualcomm Technologies Inc., BrainChip Holdings Ltd., and Samsung Electronics Co., Ltd. These companies are actively involved in research and development activities to enhance their product offerings and maintain a competitive edge in the market.

Recent Happenings in Neuromorphic Chip Market

- In January 2021, Intel Corporation announced the launch of its third-generation neuromorphic chip, Loihi 2, which offers improved performance and energy efficiency for AI applications. - In March 2022, Qualcomm Technologies Inc. unveiled its latest AI accelerator chip, the Cloud AI 200, which is designed to support large-scale neural networks for cloud-based AI services. - BrainChip Holdings Ltd. entered into a strategic partnership with a leading automotive manufacturer to develop neuromorphic chips for autonomous driving applications. - Samsung Electronics Co., Ltd. collaborated with a major healthcare company to integrate neuromorphic chips into wearable devices for health monitoring and tracking purposes.