{"id":1534,"date":"2024-09-20T05:45:37","date_gmt":"2024-09-20T05:45:37","guid":{"rendered":"https:\/\/www.innoviusresearch.com\/blog\/?p=1534"},"modified":"2024-10-18T12:33:05","modified_gmt":"2024-10-18T12:33:05","slug":"neuromorphic-computing-revolutionizing-technology-and-driving-market-growth","status":"publish","type":"post","link":"https:\/\/www.innoviusresearch.com\/blog\/artificial-intelligence\/neuromorphic-computing-revolutionizing-technology-and-driving-market-growth\/","title":{"rendered":"Neuromorphic Computing: Revolutionizing Technology and Driving Market Growth"},"content":{"rendered":"\n

Neuromorphic computing <\/strong>is a computer engineering technique that involves modeling computer elements after systems found in the human brain<\/strong> and nervous system<\/strong>. This term encompasses the design of both hardware<\/strong> and software<\/strong> computing elements.<\/p>\n\n\n\n

These systems are designed to be highly energy-efficient<\/strong>, as a human brain and use significantly less power than conventional supercomputers.<\/p>\n\n\n\n

It can quickly process large amounts of data from numerous Internet of Things (IoT) devices, making it ideal for home automation<\/strong>, self-driving cars<\/strong>, and medical diagnostics <\/strong>applications.<\/p>\n\n\n\n

Market Size and Forecast<\/h5>\n\n\n\n

In 2023<\/strong>, the Global Neuromorphic Computing market <\/strong>was valued at $5.19 billion<\/strong>.<\/p>\n\n\n\n

The Global Neuromorphic Computing market is expected to grow and reach to $24.75 billion <\/strong>by 2030<\/strong>.<\/p>\n\n\n\n

The global market is expected to grow at an approximate CAGR of 25% <\/strong>during the forecasted period 2024-2030.<\/p>\n\n\n\n

\"Global
Global Neuromorphic Computing Market During 2023-2030 ($Billion)<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n

In 2022<\/strong>, the global market shares for Neuromorphic Computing indicated North America <\/strong>leading at 53%, <\/strong>followed by Europe (23%), Asia Pacific (12%), Middle East and Africa (7%), <\/strong>and South America (5%)<\/strong>.<\/p>\n\n\n\n

\"\"
Global Neuromorphic Computing Market Share, By Region 2022 (%)<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n
Neuromorphic Computing Recent Trends and Developments<\/h5>\n\n\n\n
\"sYNSENSE-Neuromorphic<\/figure>
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In 2024, SynSense<\/strong> collaborated with iniVation<\/strong> to develop neuromorphic technologies for stand-alone processors, vision sensors, and integrated compute-in-sensor devices in robotics, automobiles, consumer electronics, and aerospace.<\/p>\n<\/div><\/div>\n\n\n\n

\"Intel-Neuromorphic<\/figure>
\n

In 2024, Intel<\/strong> built a large-scale neuromorphic system, code-named Hala Point<\/strong>, initially deployed at Sandia National Laboratories, utilizing Intel\u2019s Loihi 2 processor, aimed at supporting research for future brain-inspired artificial intelligence.<\/p>\n<\/div><\/div>\n\n\n\n

\"Brainchip-Neuromorphic<\/figure>
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In 2023, BrainChip Holdings Ltd.<\/strong> and Lorser Industries Inc<\/strong>. cooperated to use BrainChip\u2019s Akida\u2122 <\/strong>technology to deliver neuromorphic computing solutions for software-defined radio<\/strong> (SDR) devices.<\/p>\n<\/div><\/div>\n\n\n\n

\"Eindhoven<\/figure>
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In 2023, researchers from Eindhoven University of Technology <\/strong>and Northwestern University <\/strong>in the US developed a way for training neuromorphic chips to detect cystic fibrosis <\/strong>using a biosensor.<\/p>\n<\/div><\/div>\n\n\n\n

\"Cvedia-Neuromorphic<\/figure>
\n

In 2023, CVEDIA<\/strong> partnered with BrainChip Holdings Ltd. <\/strong>for the integration of the CVEDIA-RT<\/strong> platform for video analytics running on BrainChip\u2019s Akida\u2122 <\/strong>neuromorphic IP for security and surveillance, transportation, ITS, and retail applications.<\/p>\n<\/div><\/div>\n\n\n\n

\"Tsinghua<\/figure>
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In 2022, researchers at\u00a0China\u2019s Tsinghua University<\/strong> Center for Brain-Inspired Computing Research\u00a0developed a neuromorphic chip for AI applications with 50% <\/strong>lower power consumption than a standard NVIDIA chip.<\/p>\n<\/div><\/div>\n\n\n\n

Market User-based Statistics<\/h5>\n\n\n\n

As per a report of 2023, the largest segment in the end-user share of Neuromorphic Computing is Consumer Electronics at 48%, followed by Automotive (27%), Aerospace & Defense (11%), Healthcare (8%), and Others (6%).<\/p>\n\n\n\n

\"Neuromorphic
Neuromorphic Computing Segments, By End-Use 2023 (%)<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n

As per a report of 2023, <\/strong>the larger segment in the share of Neuromorphic Computing by deployment is Edge<\/strong> deployment at 71.7%<\/strong> followed by Cloud <\/strong>deployment at 28.9%<\/strong> .<\/p>\n\n\n\n

Edge deployment is popular due to its high real-time processing speeds, crucial for application such as autonomous vehicles and industrial automation.<\/p>\n\n\n\n

\"Neuromorphic
Neuromorphic Computing Segments, By Deployment 2023 (%)<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n
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Data Sources<\/strong>: Grand View Research<\/a>, EmergenResearch<\/a>, GMinsights<\/a>, Fortune Business Insights<\/a>, and others.<\/p>\n\n\n\n

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