Neuromorphic Computing Market Size, Emerging Trends and Overview to 2024: Hexa Reports

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Neuromorphic Computing Market Analysis, Share and Size,

Trends, Industry Growth, Overview And Segment Forecasts

To 2024

The neuromorphic computing market size is expected to reach USD 6,480.1 million by 2024 according to

a new study by Grand View Research, Inc.

The global neuromorphic computing market is expected to gain traction, owing to the rising demand for

artificial intelligence. The prominent industry vendors are focusing on the development of neural

processing units that can be incorporated into the processor chip for the reverse-engineering of the

human brain.

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The rising demand for cognitive and brain robots is projected to impel growth in the industry.

Neuromorphic chips facilitate users with several benefits such as high-performance speed, cognitive

computing, optimum usage of memory, and low power consumption. The escalated demand in diverse

industrial verticals, including consumer electronics, automotive, and robotics is instrumental in keeping

the industry prospects upbeat.

The rise in the demand for aerial surveillance and satellite imagery is impelling growth in the industry.

The growth in the audio and signal processing application segments is further presumed to positively

impact the industry.

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The growing demand in end-use segments, such as the automotive and military & defense sectors, is

creating new avenues for industry expansion. However, the vendors need to make substantial

investments in the research and development activities of neuroscience and computing before foraying

into the industry. Replicating the neural patterns on chips requires the use of complex algorithms, which

makes the design process more intricate.

Further key findings from the study suggest:

The consumer electronics end-use segment...