Neuromorphic Chip Market Worth US$1.8 Billion by 2023 | TMR

ALBANY, New York, May 18, 2017 /PRNewswire/ --

The global neuromorphic chip market has been anticipated by Transparency Market Research (TMR) to witness the dominance of superior players wanting to extend their presence at a regional and an international level with the help of innovations and strategic collaborations. HRL Laboratories could focus on new applications for broadening its product portfolio in the world neuromorphic chip market. Hewlett Packard Labs has been foretold to sustain its leadership in the world neuromorphic chip market by bolstering innovative offerings with advanced technologies. In September 2016, a breakthrough in multisensory pattern and image recognition was brought about by General Vision, Inc. through integration with NeuroMem technology.

According to a report compiled by TMR, the world neuromorphic chip market could rise at a solid CAGR of 19.0% to attain a valuation of approximately US$1.8 bn by 2023.

Leading companies such as Intel Corporation could look to focus on heavy investments in research and development for fortifying their position in the world neuromorphic chip market. In 2015, the company had invested a colossal amount of funds in research and development for developing cutting-edge proprietary technologies and fortifying its status in the world neuromorphic chip market. In the same year, IBM once again took a leading position in the world neuromorphic chip market on the back of several patents awarded in the U.S.

Craving Need for Artificial Intelligence Gives Impetus for Growth 

The authors of the report have foreseen the international neuromorphic chip market to receive a strong momentum due to a rising demand for artificial intelligence (AI). This could include the furtherance of machines and computer programs that are adequately proficient to update themselves when introduced to real-time data. The range of applications in the international neuromorphic chip market has been expected to be significantly enhanced on account of innovations in the integrated circuit miniaturization field. The scalability and small size of neuromorphic chips facilitate their easy implementation into a variety of end-use products.

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The benefit of improved neural network-based computations along with the speed of machine learning in large supercomputers could bode well for the international neuromorphic chip market. The growth of the international neuromorphic chip market has been projected to be forwarded by an aggressive demand from the Internet of things (IoT) technology.

Extortionate Manufacturing Cost and Integration Challenge Wound Demand 

High cost of manufacture could be one of the chief deterrents in the worldwide neuromorphic chip market. The integration of biological synapses into microscopic-sized hardware requiring space of a mere single micron has been predicted to be a major challenge of manufacturers operating in the worldwide neuromorphic chip market. Hardware designing complexities and insufficient availability of competent infrastructure and technological resources could be other challenges in the worldwide neuromorphic chip market.

However, the future of the worldwide neuromorphic chip market has been envisaged to be on the brighter side owing to growth opportunities birthing from applications in a wide gamut of products in different sectors such as healthcare, semiconductor and electronics, and automotive. Service and industrial robotics could be a telling application level opportunity prevailing in the worldwide neuromorphic chip market. Inflating adoption of software for perpetual online learning, data modeling, predictive analysis, and real-time data streaming and growing demand for sensors have been prophesied to be other reliable opportunities in the worldwide neuromorphic chip market.

Get more information from Research Report Press Release: http://www.transparencymarketresearch.com/pressrelease/neuromorphic-chip-market.htm

The information presented in this review is based on a TMR report, titled, "Neuromorphic Chip Market (Function - Signal Processing, Data Processing, and Image Recognition; Application - Defense and Aerospace, Automotive, Medical, and Industrial) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023."

The global neuromorphic chip market has been segmented as presented below: 

Global Neuromorphic Chip Market: By Function 

• Signal Processing
• Data Processing
• Image Recognition
• Others

Global Neuromorphic Chip Market: By Application 

• Defense and Aerospace
• Automotive
• Medical
• Industrial
• Others

Global Neuromorphic Chip Market: By Geography 

• North America
• Europe
• Asia Pacific
• Rest of the World 

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