Neuromorphic Chip Market - Growth, Trends, and Forecast (2020 - 2025)

The Neuromorphic Chip Market is Segmented by Application (Image Recognition, Signal Processing, and Data Processing), End User (Aerospace and Defense, Automotive, Industrial Automation, and Healthcare), and Geography.

Market Snapshot

Study Period:

2019-2025

Base Year:

2019

Fastest Growing Market:

North America

Largest Market:

North America

CAGR:

22 %

Major Players:

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Market Overview

The  Neuromorphic Chip Market was valued at USD 111.04 million in 2019 and is expected to reach USD 366.14 million by 2025, at a CAGR of 22% over the forecast period 2020 - 2025. Keeping the pace of advancement of disruptive technologies, such as artificial intelligence (AI) and machine learning (ML), various embedded system providers are keen to develop brain chips, where not only the chips will be processed fast, but will have also responses like human brains for those systems to think and act in a human way. Data analytics, the Internet of Things (IoT), and smart sensors are considered as major applications for the neuromorphic chip market, as these chips are embedded into hardware used for image recognition, data mining, etc.

  • Currently, neuromorphic vendors aim to design advanced system-on-chip (SoC) that provides an interface between sensors and algorithms, which eventually 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.
  • Big chip players, including Intel Corporation, Qualcomm Incorporated, BrainChip Holdings Ltd, HRL Laboratories LLC, IBM Corporation, and many others, are developing neuromorphic chips to cut short the processing speed, through self-decision making abilities of the chips.

Scope of the Report

Neuromorphic chips are digitally processed analog chips with a series of networks similar to human brain networks. These chips contain millions of neurons and synapses to augment self intelligence, irrespective of pre-installed codes in normal chips. As a special kind of chips, these are highly capable of manipulating data received through sensors.

By Application
Image Recognition
Signal Processing
Data Processing
Other Applications
By End User
Aerospace and Defence
Automotive
Industrial Automation
Healthcare
Consumer Electronics and Others
Geography
North America
Europe
Asia-Pacific
Rest of the World

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Key Market Trends

Automotive is the Fastest Growing Industry to Adapt Neuromorphic Chip

  • The automotive industry is one of the fastest-growing industries for neuromorphic chips. All the premium car manufacturers are investing heavily to achieve L5 of autonomous technology; which, in turn, is anticipated to generate huge demand for AI-powered neuromorphic chips.
  • Due to the complexity of roadway data integration, cars’ automated systems need more AI than aircraft. According to the Victoria Transport Policy Institute, by 2030, 20-40% of the automated vehicles will be available in the moderate-to-premium price category, which indicates that more volume of integrated neuromorphic chips is likely to be sold by the AI chip manufacturers.
  • The neuromorphic chip manufacturers are focusing on advanced driver assisted system (ADAS) and autonomous vehicle (AV) applications to enhance their market reach. Recently, in October 2017, BrainChip Holdings Ltd supplied neuromorphic chip to one of the top automobile companies in  Germany, to test its ADAS capability.

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North American is Expected to Hold Major Share over the Forecast Period

  • North America is currently one of the major market shareholders for neuromorphic chips with the presence of top vendors in the United States. The latest technological breakthroughs have assisted in the advancement of new x-ray tubes, which can make the overall process more efficient and significantly improve accuracy in various applications.
  • There have been a series of new product launches, mergers, and acquisitions in North America to take advantage of this opportunity. The major driver behind the investments has been the continuous 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 likely to hold the major share of the market over the forecast period.

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Competitive Landscape

As the market for neuromorphic chips is very niche and in the initial phase of development, the market has a presence of a few players, such as BrainChip Holdings Ltd, Intel Corporation, Qualcomm Technologies Inc., etc. In this consolidated market scenario, top players are growing intensely through various market development strategies, such as collaboration, market expansion, product innovation, and R&D activities. Some of the current strategies adopted by these players are:

  • March 2019: Qualcomm launched a new system-on-chip (SoC) integrated with AI to enhance smart audio and IoT applications. This AI-enabled SoC is expected to provide seamless voice assistance and other connectivity applications through power-optimized chip architecture. This new product innovation is anticipated to augment the growth of the neuromorphic chip market in the coming years.
  • September 2017: Intel launched a new self-learning chip, which promises to accelerate AI. Intel introduced the first-of-its-kind self-learning chip, codenamed as Loihi. The Loihi research test chip includes digital circuits that mimic the brain’s basic mechanics, making machine learning faster and more efficient while requiring lower computing power.

 

Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Surge in Growth Plan for Autonomous Vehicle Among Premium Automotive OEMs

      2. 4.2.2 Growth in Demand for Smart Sensors

      3. 4.2.3 Increase in Demand for AI-powered Chips

    3. 4.3 Market Restraints

      1. 4.3.1 Complexity in Hardware Design and Precision

      2. 4.3.2 High Initial Investment

    4. 4.4 Industry Value Chain Analysis

    5. 4.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.5.1 Threat of New Entrants

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Bargaining Power of Suppliers

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Application

      1. 5.1.1 Image Recognition

      2. 5.1.2 Signal Processing

      3. 5.1.3 Data Processing

      4. 5.1.4 Other Applications

    2. 5.2 By End User

      1. 5.2.1 Aerospace and Defence

      2. 5.2.2 Automotive

      3. 5.2.3 Industrial Automation

      4. 5.2.4 Healthcare

      5. 5.2.5 Consumer Electronics and Others

    3. 5.3 Geography

      1. 5.3.1 North America

      2. 5.3.2 Europe

      3. 5.3.3 Asia-Pacific

      4. 5.3.4 Rest of the World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 aiCTX AG

      2. 6.1.2 BrainChip Holdings Ltd

      3. 6.1.3 General Vision Inc.

      4. 6.1.4 Hewlett Packard Enterprise Development LP

      5. 6.1.5 IBM Corporation

      6. 6.1.6 Intel Corporation

      7. 6.1.7 Qualcomm Technologies Inc.

      8. 6.1.8 Samsung Electronics Co. Ltd. (Samsung Advanced Institute of Technology)

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

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