Neuromorphic Chip Market - By Technology (CMOS, Technology, Memristor Technology), By End-Use Industry (Consumer, Electronics, Healthcare, Automotive, Industrial, Aerospace and Defense, IT and Telecommunications) & Forecast, 2024 - 2032

Neuromorphic Chip Market Size

Neuromorphic Chip Market was valued at USD 138.2 million in 2023 and is expected to grow at a CAGR of over 55% between 2024 and 2032. The growth of the market is significantly fueled by advancements in artificial intelligence (AI).
 

Neuromorphic chips are designed to emulate the neural structures of the human brain, providing exceptional efficiency and performance for AI tasks. These chips are adept at processing complex and real-time data, making them ideal for applications in machine learning, deep learning, and cognitive computing. As AI continues to evolve and expand into diverse sectors such as autonomous vehicles, robotics, and healthcare, the demand for neuromorphic chips increases. Their ability to perform high-speed computations with reduced energy consumption positions them as a crucial component in the advancement of AI technologies.
 

For instance, in June 2024, Unimaginable technologies are being created by fusing AI with the human brain. Hardware and software are the two core technological foundations on which neuromorphic computing is built. Neuromorphic circuits, like the well-known Loihi processor from Intel, are being developed on the hardware front. Loihi, which is currently in its second generation, is made to resemble the composition and operation of biological brain networks. These chips enable more effective and flexible processing since they employ an entirely different design from conventional processors.
 

The rise of edge computing, where data is processed at or near the source of data generation, is a significant driver for the neuromorphic chip market. Neuromorphic chips are particularly suited for edge computing environments due to their low power consumption and high computational efficiency. These chips enable real-time data analysis and decision-making with minimal latency, which is essential for applications such as autonomous systems, smart devices, and industrial automation. As the demand for faster and more efficient edge computing solutions grows, neuromorphic chips are increasingly being adopted to meet these needs.
 

One of the major pitfalls for the market is the high development and production costs. The design and manufacturing of neuromorphic chips require specialized materials, advanced fabrication techniques, and significant research and development investments. These high costs can limit the accessibility of neuromorphic technology and slow down market adoption, particularly in cost-sensitive applications. The financial barriers associated with developing and producing neuromorphic chips can pose challenges for companies looking to enter or expand within the market.
 

Neuromorphic Chip Market Trends

The growing demand for advanced artificial intelligence (AI) and machine learning (ML) applications is a major trend driving the neuromorphic chip industry. As AI and ML technologies become more prevalent across industries such as healthcare, automotive, and finance, the need for more efficient and powerful processing solutions is increasing. Neuromorphic chips offer a significant advantage in these applications due to their ability to handle complex tasks such as pattern recognition and real-time decision-making with minimal power consumption. The rise of AI-driven innovations, including autonomous vehicles, smart cities, and advanced robotics, is propelling the demand for neuromorphic chips that can support these technologies' computational requirements. As AI and ML continue to evolve, neuromorphic chips are becoming increasingly integral to their development and deployment.
 

The expansion of edge computing and the Internet of Things (IoT) is another key trend influencing the neuromorphic chip market. Edge computing involves processing data closer to the source rather than relying on centralized cloud computing, which requires efficient and low-power processing solutions. Neuromorphic chips are well-suited for edge computing due to their ability to perform complex computations with minimal energy consumption. Similarly, IoT devices, which generate and process vast amounts of data, benefit from the low-power, high-efficiency capabilities of neuromorphic chips. The increasing deployment of IoT devices and the demand for real-time data processing at the edge of networks are driving the adoption of neuromorphic chips in these areas. This trend reflects the growing need for advanced processing technologies that can handle the requirements of distributed and connected systems.
 

Ongoing advancements in neuromorphic computing research are shaping the future of the market. Research and development efforts are focused on improving the performance, scalability, and integration of neuromorphic chips. Innovations in materials science, chip architecture, and computational algorithms are leading to the development of more efficient and capable neuromorphic chips. These advancements are enhancing the functionality of neuromorphic chips, making them more applicable to a broader range of applications. Additionally, breakthroughs in neuromorphic computing are enabling new use cases and driving further market growth. As research continues to push the boundaries of neuromorphic technology, the market is expected to see an influx of new and improved products, expanding the potential for neuromorphic chips across various sectors.
 

Neuromorphic Chip Market Analysis

Based on end use industry, the market is divided into consumer electronics, healthcare, automotive, industrial, aerospace and defense, it and telecommunications, others. The automotive segment is expected to register a CAGR of 55% during the forecast period.
 

• The automotive industry is another crucial segment for the market, driven by the increasing integration of advanced driver assistance systems (ADAS) and autonomous vehicle technologies.
   
• Neuromorphic chips are well-suited for these applications due to their ability to process sensory data from multiple sources in real-time, enabling quick decision-making and adaptive learning. These chips can enhance object detection, traffic prediction, and situational awareness in autonomous vehicles, leading to safer and more efficient driving experiences.
   
• Additionally, neuromorphic chips' low power consumption is beneficial for electric vehicles, helping to extend battery life while maintaining high computational performance. As the automotive industry continues to push towards fully autonomous and highly automated driving systems, the demand for neuromorphic technology that can support these advancements is expected to grow significantly.
   

Based on technology, the market is divided into CMOS technology, memristor technology, and others. The CMOS technology segment is projected to account for USD 600 million by 2032.
 

• Complementary Metal-Oxide-Semiconductor (CMOS) technology is a foundational segment for the neuromorphic chip market, providing the basic building blocks for constructing neuromorphic processors. CMOS technology is widely used in the semiconductor industry due to its cost-effectiveness, scalability, and efficiency.
   
• Neuromorphic chips built on CMOS technology benefit from the well-established manufacturing processes and infrastructure, enabling large-scale production and integration into various applications.
   
• CMOS-based neuromorphic chips can achieve high density and performance while maintaining low power consumption, making them suitable for a wide range of applications, including AI, robotics, and edge computing. The continued advancements in CMOS technology, such as the development of smaller and more efficient transistors, further enhance the capabilities and adoption of neuromorphic chips in the market.
   

North America dominated the global neuromorphic chip market in 2023, accounting for a share of over 35%. North America, particularly the United States and Canada, is a key region in the market, characterized by its leading position in technology development and adoption. The United States is a major hub for neuromorphic chip research, with significant contributions from technology giants and research institutions. The country’s strong emphasis on artificial intelligence, autonomous systems, and edge computing drives the demand for neuromorphic chips that can offer high-performance and energy-efficient processing. In Canada, advancements in AI research and technological innovation support the growth of the neuromorphic chip industry. The region's robust infrastructure, investment in tech startups, and focus on next-generation computing technologies contribute to its significant role in the global market.
 

United States is a leading market for neuromorphic chips, driven by its advanced technological infrastructure and substantial investments in research and development. The U.S. is home to several major technology companies and research institutions that are pioneering the development of neuromorphic chip technology. These chips are increasingly being used in applications such as artificial intelligence, autonomous vehicles, and edge computing, where high-performance and low-power processing capabilities are essential. The growing emphasis on AI and machine learning in the U.S. further accelerates the adoption of neuromorphic chips, as they provide the computational power required for sophisticated AI models and real-time data processing. Additionally, government and private sector funding in tech innovation and smart technology drives continued growth in the market.
 

Japan is a prominent player in the neuromorphic chip market, known for its technological advancements and strong electronics industry. The country’s major technology firms, such as Sony and Toshiba, are actively involved in developing and integrating neuromorphic chips into various applications, including robotics, AI, and consumer electronics. Japan's focus on innovation and its investment in research and development contribute to its leadership in neuromorphic technology. The rise of smart devices and the emphasis on enhancing computational efficiency and real-time processing capabilities drive the demand for neuromorphic chips in Japan. Additionally, Japan's commitment to advancing robotics and autonomous systems supports the growth of the market in the country.
 

China is rapidly emerging as a significant market for neuromorphic chips, driven by its large-scale electronics manufacturing capabilities and aggressive investments in technology development. The country’s focus on advancing artificial intelligence, smart cities, and IoT applications fuels the demand for neuromorphic chips, which are essential for high-efficiency, real-time data processing. China’s strong government support for technology innovation and its extensive research initiatives contribute to the growth of the neuromorphic chip industry. The expansion of AI applications, coupled with the country’s emphasis on developing autonomous systems and smart infrastructure, further drives the adoption of neuromorphic chips in China.
 

For instance, in June 2024, A Chinese scientific team has developed a new 'brain-like' chip that operates on reduced energy consumption, marking a significant advance in China's chip manufacturing technology. Researchers from the Chinese Academy of Sciences, in collaboration with other scholars, have developed Speck, a low-power neuromorphic chip capable of dynamic computing. This system-level chip, integrating algorithm, software, and hardware design, demonstrates the inherent advantages of 'brain-like' computation in incorporating high-level brain mechanisms.
 

South Korea is an important player in the global market, recognized for its technological prowess and significant contributions to electronics innovation. The country’s leading technology companies, such as Samsung and LG, are actively engaged in developing neuromorphic chips to enhance their products and applications. South Korea’s focus on advancements in artificial intelligence, robotics, and edge computing drives the demand for neuromorphic chips that offer efficient and high-performance processing capabilities. The country’s investment in research and development, along with its growing smart technology sector, supports the growth of the market. South Korea’s commitment to technological excellence and innovation positions it as a key contributor to the global neuromorphic chip industry.
 

Neuromorphic Chip Market Share

Intel Corporation & IBM Corporation hold a significant share in the neuromorphic chip industry. Intel Corporation holds a significant share in the market due to its pioneering efforts in developing cutting-edge neuromorphic computing technologies. Intel's introduction of the Loihi chip, a specialized neuromorphic processor, has positioned the company as a leader in this emerging field. Loihi is designed to mimic the brain's neural networks, offering highly efficient and low-power processing capabilities ideal for applications requiring real-time data processing and learning, such as robotics, artificial intelligence, and edge computing. Intel's extensive research and development resources, coupled with its strong market presence and partnerships with leading research institutions and universities, enable it to drive innovation and accelerate the adoption of neuromorphic technology. Additionally, Intel's ability to integrate neuromorphic chips with its existing hardware and software ecosystems provides a seamless pathway for customers to implement advanced neuromorphic solutions, further solidifying its significant market share.
 

IBM Corporation holds a significant share in the global market due to its long-standing commitment to advancing cognitive computing and artificial intelligence. IBM's TrueNorth chip is a notable example of its innovative approach to neuromorphic computing. TrueNorth is designed to emulate the human brain's neural architecture, offering unprecedented efficiency and scalability for complex data processing tasks. IBM's extensive research capabilities, particularly through its IBM Research division, have enabled it to develop sophisticated neuromorphic technologies that address the needs of various industries, from healthcare to finance. Furthermore, IBM's expertise in AI and machine learning, combined with its robust portfolio of cognitive computing solutions, positions it as a key player in the market. The company's collaborations with academic and industry partners, along with its focus on creating practical, scalable neuromorphic applications, contribute to its significant market share and influence in this rapidly evolving field.
 

Neuromorphic Chip Market Companies

Major players operating in the neuromorphic chip industry are:

• Intel Corporation
• IBM Corporation
• Samsung Electronics Co. Ltd
• BrainChip, Inc.
• SK HYNIX INC. 
• SynSense AG
• Prophesee.ai
   

Neuromorphic Chip Industry News

• In April 2024, Intel announced that it has built the world's largest neuromorphic system. Code-named Hala Point, this large-scale neuromorphic system, initially deployed at Sandia National Laboratories, utilizes Intel’s Loihi 2 processor, aims at supporting research for future brain-inspired artificial intelligence (AI), and tackles challenges related to the efficiency and sustainability of today’s AI.
   
• In May 2024, SSD Researchers develop large-scale neuromorphic chip with novel instruction set architecture and on-chip learning. Specialized neuromorphic computing chips are being developed to leverage the benefits of the SNNs better. These chips represent a departure from the traditional computing architecture, offering a promising solution to storage and power constraints in the post-Moore era.
   

The neuromorphic chip market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Million) from 2021 to 2032, for the following segments:

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Market, By Technology

• CMOS Technology
• Memristor Technology
• Others                              

Market, By End-use Industry

• Consumer Electronics
• Healthcare
• Automotive
• Industrial
• Aerospace and Defense
• IT and Telecommunications
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA