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Neuromorphic computing market set to be worth $272.9 billion by 2022 scrutinized in new research

Neuromorphic Computing/Engineering Market Global Review From 2017 to 2022 of 137 pages added by reports and reports explores Global Neuromorphic Computing Market size, trends, demand, share, growth, industry, and companies’ analysis to 2022. According to study Global Neuromorphic Computing market set to grow $272.9 billion by 2022, growing at a CAGR of 86.0%.

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Neuromorphic engineering, also known as neuromorphic computing, is a concept describing the use of very-large-scale integration (VLSI) systems containing electronic analog circuits to mimic neuro-biological architectures present in the nervous system.

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The Global Neuromorphic Computing market projected to grow at a CAGR of 86.0%. Neuromorphic computing market in North America to grow at the highest rate in the coming years.

The growth of global Neuromorphic Computing market is boosted by factors such as increasing adoption of software, due to its applications such as continuous online learning, real-time data streaming, predictive analysis, and data modeling, in video monitoring, machine vision, and voice identification applications is expected to be a major driving factor for the growth of the market.

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Neuromorphic Computing enables collaboration between healthcare stakeholders, reduces administrative tasks, and provides greater transparency in the field, thus enhancing the quality, safety, and efficiency.

Neuromorphic Computing Market Companies are IBM Corp.(U.S.), HP Corp. (U.S.), Samsung Electronics Ltd. (South Korea), Intel Corp. (U.S.), HRL Laboratories, LLC (U.S.), General Vision Inc. (U.S.), Applied Brain Research Inc. (U.S.), and BrainChip Holdings Ltd. (U.S.). 

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Image recognition application holds the largest share of the neuromorphic computing market for the aerospace. Various approaches to allow neuromorphic computing to learn algorithms are based on the image recognition technology.

Aerospace & defense is the largest application area for image recognition since it is used for surveillance and security, tracking, and targeting and in drones. Growth in the market for image recognition is expected to be driven by the increasing adoption of drones and UAVs.

Video monitoring and machine vision are the major factors driving the growth of the market for image recognition.

High awareness pertaining to the benefits of neuromorphic computing in various industries such as aerospace, military,& defense and medical is a major driver for the growth of the neuromorphic computing market in North America. The U.S. being the leading country in the adoption of artificial intelligence for machine learning, natural language processing (NLP), image processing, and speech recognition across industries such as healthcare and automotive & transportation is driving the growth of the neuromorphic computing market in North America.

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In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews have been conducted with people holding key positions across several regions.

The breakup of the profile of primary participants is given below:

  • By Company Type: Tier 1 – 35%, Tier 2 – 40%, and Tier 3 – 25%
  • By Designation: C-Level Executives – 45%, Directors– 35%, and Managers– 20%
  • By Region: North America – 40%, Europe – 30%, APAC– 20%, and RoW – 10%

Reasons to Access the Report:

  • This report segments the neuromorphic computing market comprehensively and provides the closest approximations of the market sizes for the overall market and sub segments across the different applications, industries and regions.
  • The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
  • This report would help stakeholders to understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.

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