According to a new market research report published by Credence Research “Neuromorphic Computing Systems Market (By Application: Image Recognition and Processing, Signal Recognition and Processing, Data Processing and Object Recognition; By Industry Verticals: Consumer Electronics, Aerospace and Defense, Healthcare, IT and Telecom, Automotive and Other Industry Verticals) – Growth, Future Prospects, and Competitive Landscape, 2018-2026”, the neuromorphic computing systems market is expected to grow at a CAGR of 34.3% during the forecast periof from 2016 to 2026.
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Modern day technologies such as artificial intelligence, industrial automation and machine learning techniques for robots have up surged the demand for enhanced computing capacities. Neuromorphic computing system is one of the most prominent techniques adopted across various industry verticals in order to carry out critical computing. Neuromorphic computing is a technique for mimicking methodology behavior of human brain neurons in the form of computer chips possessing capability of learning and solving cognitive problems. These computer systems have high computing capacities and prove relatively economical in terms of power consumption when compared to other computing techniques.
The field of neuromorphic technology has been witnessing immense research and development activities. Technical experts, computing system companies and educational universities have been collaborating in order to enhance the performance of neuromorphic computing systems. Gatherings, forums and workshops such as Neuro-Inspired Computational Elements Workshop, hosted by IBM research facility at Almaden, California in March 2017, are being conducted regularly with a view to develop and expand the scope of applications for neuromorphic computing systems. Currently, several neuromorphic computing systems are being used on a significant scale in various industry verticals including consumer electronics, aerospace and defense and other industrial and robotic applications.
Telecom and computing giants including Apple, Inc. and Intel Corporation have been involved in studying neuromorphic chips, designed to behave similarly to human brains for an enhanced artificial intelligence experience. In addition, industrial automation and robotics industry have been striving towards incorporating neuromorphic computing systems in order to achieve better programming and machine learning capabilities. From a commercial point of view, neuromorphic computing systems offer almost limitless applications and are expected to witness higher adoption in the following years.
The neuromorphic computing systems market is still in its nascent stage of development and characterized by several international computing giants dedicated towards the development of advanced systems. Huge investments in terms of capital as well as technology have been committed by these companies in order to expedite the neuromorphic computing technology developments. In addition, prominent players have made collaboration with leading technical universities in order to share knowledge and possible applications of neuromorphic computing systems.
Major players in the neuromorphic computing systems market include Applied Brain Research, Inc., BrainChip, Inc., Brain Corporation, General Vision, Inc., HRL Laboratories, LLC, IBM Corporation, Intel Corporation, Knowm, Inc., Numenta, Inc. Qualcomm, Inc., Samsung Electronics Ltd. and Vicarious FPC, Inc.
- Ongoing demand for sophisticated and application specific AI systems
- Significant investment by global computing giants towards development of neuromorphic computing systems for numerous applications
- Collaborations, workshops and alliances between computing systems developers and leading universities to enhance the system’s functionalities and applications