Future Market Insights recently published a market research report that provides a comprehensive overview of the global market for neuromorphic chips. “Neuromorphic Chip Market: Global Industry Analysis and Opportunity Assessment, 2016-2026,” according to the report. According to the report, the market will grow at a promising 20.7% CAGR from 2016 to 2026, rising from a valuation of US$1,420 million in 2015 to a revenue opportunity of US$10,810 million by the end of 2026.
The promise of a significant leap forward in terms of operational prowess, processing speed, and suitability for artificial intelligence applications is propelling developments in the field of neuromorphic chips. The vast expansion of these chips’ applications across industries such as automotive, defence and military, aerospace, and machine learning is expected to drive the global neuromorphic chip market in the coming years.
In terms of incremental opportunity across the report’s key regional markets, North America is expected to be the most profitable over the report’s forecast period. Growth opportunities abound in the region, thanks to the region’s thriving automotive, aerospace, and consumer electronics industries. Furthermore, the region is home to some of the world’s leading chipmakers and technology companies, making it a focal point for technological advances in the field of neuromorphic chips.
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According to the report, the North America neuromorphic chip market will grow at a promising 19.7% CAGR from 2016 to 2026, representing an incremental opportunity of US$2,300 million. If the projections are correct, the market will grow from a valuation of US$400 million in 2015 to US$2,700 million by the end of 2026. Several industries in the region are promoting the convergence of advanced, new technologies like neuromorphic chips with existing technologies in order to improve operational productivity and efficiency.
The vendor landscape has begun to become crowded, and companies have begun to focus on strategic collaborations in order to strengthen their market position and capitalise on available opportunities. IBM Corporation, Hewlett Packard Labs, HRL Laboratories, LLC, General Vision, and Intel Corporation are among the market’s leading companies.