Neuromorphic Chip Market worth US $1.952Bn in 2020 with a CAGR of 24.60%

The increasing demand for artificial intelligence-based on microchips by using a neuromorphic chip which is the major propelling factor for the growth of the global market. For instance, Intel released the new neuromorphic prototype that simulates a total of 130,000 neurons and 130 million synapses, all capable of communicating with each other. Additionally, it also provides security and uses in the investigation of the crime which is another fueling factor for the growth of the global market. Neuromorphic chip market is projected to grow to US$1.952Bn in 2020.

The report "Neuromorphic Chip Market, By Application (Single Processing, Image Recognition, Data Processing, and Others), By End- User (Aerospace & Defense, Healthcare, and Others), and Region - Forecast to 2030"

Key Highlights:

• In 2017, the labs of Hewlett Packard have been in collaboration with the government (US Office of Science and Technology) and the industry becomes partners which are interested in neuromorphic chip computing to develop the technology.

Key Market Insights from the report:        

Neuromorphic chip market accounted for US $1.952Bn in 2020 and is projected to register a moderate CAGR of 24.60% over the forecast period. The market report has been segmented based on application, end-user, and region.

• By application, others are the dominating segment it includes automotive, consumer electronics due to increase use of automotive and electronics.
• By end-user, the target market is segmented into aerospace & defence, healthcare, and others.
• By region, The Asia- Pacific is the dominating region in the target market due to increasing security concern and increasing adoption of the aerospace technology. Europe region is expected to dominate the global market over the forecast period due to increasing healthcare concern and for the defence purpose

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on " Neuromorphic Chip Market, By Application (Single Processing, Image Recognition, Data Processing, and Others), By End- User (Aerospace & Defense, Healthcare, and Others), and by Region – global forecast till 2030

The prominent player operating in the neuromorphic chip market includes Hewlett Packard Enterprise Co., Samsung Electronics Co. Ltd., Intel Corporation, Qualcomm Technologies Inc., IBM Corporation, Brain Corporation, and General Vision Inc.

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