Self-Learning Neuromorphic Chip Market Subjected to Expand to Showcase Rampant Growth by 2023
The given Market Research Future’s latest
report on the global Self-Learning
Neuromorphic Chip Market 2020 is an excellent research study specially compiled to provide
the latest insights into critical aspects during COVID 19 pandemic. Adapting to
the recent novel COVID-19 pandemic, the study reveals that the self-learning
neuromorphic chip market might see chances to expand at approximately USD 2
Billion by 2023, at a staging CAGR of 27% between 2017 and 2023 (forecasted
period).
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Impactful Drivers & Restraints
By keeping the pace of the advancement of
disruptive technologies like artificial intelligence and machine learning,
various embedded system providers have developed brain chips, where not only the
chips are processed fast, but also responses similar to human brains for the
systems to think and act humanly. Data analytics, smart sensors, and Internet
of Things (IoT) are considered significant applications that are streaming high
in the neuromorphic chip market, as these chips are embedded into hardware used
for image recognition, data mining, and more. This factor has made the market
to score high valuation in the past and will continue gaining more and more
valuation of the forecast period.
At present, neuromorphic vendors aim to
design advanced system-on-chip (SoC) that recommends an interface between
sensors and algorithms. This ultimately results in optimally converted data
spikes and spiking neural networks (SNNs). A product like ‘Akida NSoC’ from
BrainChip Holdings Ltd has 1.2 million neurons and 10 billion synapses. Some of
the renowned industry players such as Qualcomm Incorporated, Intel Corporation,
BrainChip Holdings Ltd, IBM Corporation, HRL Laboratories LLC, are developing
neuromorphic chips to cut short the processing speed, through self-decision
making abilities of the chips, thus contributing drastically to the market’s
growth.
Furthermore, the
automotive industry is one of the fastest-growing industries for neuromorphic
chips. Most of the premium car manufacturers are highly investing to achieve L5
of autonomous technology, which, in turn, is likely to produce massive demand
for self-learning neuromorphic chips. In fact, the neuromorphic chip
manufacturers are also actively focusing on Advanced Driver Assisted System
(ADAS) and Autonomous Vehicle (AV) applications to boost their market reach
globally. In that case, recently, in October 2019, BrainChip Holdings Ltd supplied
neuromorphic chip to one of the top automobile companies in Germany intending
to test its ADAS capability.
n
the contrary, some factors such as complexity in designing a chip, lack of
knowledge, and algorithm related issues to it are some of the essential
restraints that may hinder the market’s growth in the forecasted period.
Segmentation
of Market
In terms of the
application segment, the signal recognition might drive the market as it
consists of image recognition, signal recognition, and data mining. The signal
recognition technology is used in healthcare, commercial, automotive, consumer
electronics, aerospace, defense, as well as industries. The improvements in
image recognition technology and its application in abundant applications such
as home automation, portable devices, robotics, and digital health is
propelling the market.
In
terms of vertical segment, the market has included automotive &
transportation and medical that accounts for high market share. The foremost
growth driver of the self-learning neuromorphic chip market is artificial
intelligence and machine learning technology, which is one of the significant
factors aiding the market to multiply.
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Regional Outlook
North American region
in the situation of coronavirus pandemic is currently one of the major market
shareholders for neuromorphic chips as top vendors are actively working in the
United States. The newest technological breakthroughs have aided in the
advancement of new x-ray tubes, which has made the overall process more
proficient and significantly improve accuracy in various applications. Also,
there have been a series of new product launches, mergers, and acquisitions in
the North American region to benefit from this opportunity. The primary driver
behind the investments has been the permanent evolution and application of new
technologies to unlock enormous volumes that were previously considered
non-commercial. With these series of investments, the North American region is
probable to hold a significant share of the market over the forecast period.
Asia-Pacific region is
anticipated to observe the fastest growth possibilities in the market owing to
the rising crime rate and increasing infrastructure development.
Industry
Players
The
well-known industry players in the self-learning neuromorphic chip market are
listed as Qualcomm (U.S.), IBM (U.S.), General Vision (U.S.), HRL Laboratories
(U.S.), Hewlett-Packard (U.S.), Numenta (U.S.), Intel Corporation (U.S.),
Samsung Group (South Korea), Brainchip Holdings Ltd. (U.S.) Applied Brain
Research Inc. (U.S.).
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