Vancouver, BC -- (SBWIRE) -- 02/09/2021 -- The neuromorphic processing market is set to attain a valuation of USD 11.29 Billion by 2027, registering a CAGR of 20.1%. Neuromorphic processing or neuromorphic computing is the application of very-large-scale integration systems (VLSI) that comprise electronic analog circuits to mirror the neurobiological framework of the human nervous system.

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Market Drivers
Neuromorphic processing is expected to gain momentum over the forecast period because of the gaining traction of neuromorphic computing technology and the rising inclination towards artificial intelligence (AI). AI is often used as applications in image processing, computer vision, chatbots and translation, language processing, in addition to non-linear controls and robotics.

High investments in research and development activities by the players in the market to commercialize neuromorphic chips are expected to expand the market growth. The neuroscience computation and an increasing trend of combining embodied models for the application of neuromorphic chips in brain-based robots have been emerging over the forecast period, which has the potential to boost the market growth.

Regional Analysis
In 2019, the North America neuromorphic processing market accounted for 36.7% market share. This is due to the presence of key neuromorphic chip manufacturers and advanced technologies. The European region is expected to grow at a CAGR of 20.2% over the forecast period. This can be ascribed to high investments in neuromorphic projects and related research and development activities. Additionally, growing efforts taken by the government and prominent universities, such as the University of Manchester and Heidelberg University, in research activities surrounding neuromorphic computing are expected to propel the industry growth in the region.

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Key Highlights From The Report
In July 2019, an 8 million-neuron neuromorphic system named Pohoiki Beach was launched by Intel Corporation. It has 64 Loihi research chips developed for the research community. Pohoiki Beach allows the researchers to experiment with brain-inspired research chip, Loihi in order to rescale the neural-inspired algorithms that comprises of sparse coding, path planning and simultaneous localization and mapping (SLAM).
The signal recognition technology is being utilized across a wide range of applications, due to the rigorous advancements in computing power leading to the widespread adoption of mobile and cloud-based engineering, which makes it the fastest growing application for neuromorphic computing. Black lead which is expandable in nature is the most preferred flame agent. This is because any business considers this as an environmentally friendly answer to the matter.
The market is highly consolidated, with the presence of the major traditional players who are investing heavily in research and development of neuromorphic processing. Moreover, the market being in its nascent stage, neuromorphic processing includes various stakeholders that include neuromorphic hardware chip manufacturers, educational institutions, research labs, technical experts and system companies. The stakeholders are currently collaborating with one another to enhance the performance of neuromorphic computing systems.

Key participants include IBM Corp., HP Corp., Samsung Electronics Ltd., Intel Corp., HRL Laboratories, LLC, General Vision Inc., Applied Brain Research, BrainChip Holdings Ltd. and General Vision Inc. among others.

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Applications Outlook (Revenue, USD Billion; 2017-2027)
Signal Processing
Image Processing
Data Processing
Object Detection
Others

End User Outlook (Revenue, USD Billion; 2017-2027)
Consumer Electronics
Automotive
Healthcare
Military and Defense
Others

Here are the questions we answer...
What are the future opportunities in store for the vendors operating in the Neuromorphic Processing market?
What does the competitive landscape look like?
Which emerging technologies are believed to impact the Neuromorphic Processing market performance?
What are the key trends and dynamics?
Which regulations that will impact the industry?
Which segment will offer the most opportunity for growth between 2020 and 2027?
Where will most developments take place in the long term?
Who are the most prominent vendors and how much market share do they occupy?
What are the latest technologies or discoveries influencing the Neuromorphic Processing market growth worldwide?

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Table of Content
Chapter 1. Neuromorphic Processing Market Methodology & Sources
1.1. Neuromorphic Processing Market Definition
1.2. Neuromorphic Processing Market Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Neuromorphic Processing Market Segmentation & Impact Analysis
Chapter 5. Neuromorphic Processing Market By Technology Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
Chapter 6. Neuromorphic Processing Market By Product Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
Continued…