Technology & Telecommunications

According to a market report by Lucintel, the future of the neuromorphic chip market looks promising with opportunities in the aerospace, military, automotive, consumer electronic, industrial, medical, and IT & telecommunication end use industries. The global neuromorphic chip market is expected to reach an estimated $10.5 billion by 2028 with a CAGR of 26.1% from 2023 to 2028. The major drivers for this market are the growing demand for AI in neuromorphic devices along with increasing adoption of these chips in the industrial sector and pharmaceutical and bioinformatics applications.



In this market, hardware and software are the two major segments of neuromorphic chip market by product type. Lucintel forecasts that software will witness a higher growth over the forecast period due to its increasing application in aerospace & military, medicine, and information technology and telecommunication end use industries.



Within this market, aerospace and military is expected to remain the largest end use industry segment because neuromorphic chips help in faster data handling than any processor. Neuromorphic chips also process accessing capabilities of weapons and other critical equipment being used, thus providing a better insights about on-ground situations.



North America will remain the largest region due to increasing government initiatives, investor activity, and presence of major players in the region.

Applied Brain Research, BrainChip Holdings, General Vision, IBM Corporation, Intel Corporation, Qualcomm Technologies, MemComputing, and Natural Intelligence are the major suppliers in the global neuromorphic chip market.  



Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global neuromorphic chip market by product, application, end use, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Neuromorphic Chip Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global neuromorphic chip market by product, application, end use, and region, as follows:

This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.

 

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

 

Q.1. What are some of the most promising, high-growth opportunities for the neuromorphic chip market by product type (hardware and software), application (image recognition, signal recognition, data mining, and object detection), end use industry (aerospace, military, automotive, consumer electronics, industrial, medical, IT & telecommunication, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?