Neuromorphic chips are the electronic chips inspired from human brains that are made out of million of neurons. The system is amalgamation of numerous artificial neural network chips which is known as neuromorphic architecture. The neuromorphic computing is executed on hardware with the help of transistors, a threshold switches and oxide based memristors. Neuromorphic chips are the amalgamation of memristors and transistors deployed over a silicon fabrication chip, which assists to lessen memory consumption as it implements the data successively.
The increase in applications of neuromorphic chips is primarily driven due to the evolution in the field of miniaturization of Integrated circuits. The neuromorphic chips are small enough to get implemented in different end use products. In recent years, demand for miniaturization of electronic devices in aerospace and medical sectors has increased manifold. The neuromorphic chips need to be small enough so that it can be placed inside electronic devices and human body easily. Moreover, these chips are placed even in one single micron of space which drives the need of miniaturization of integrated circuits. Growing demand of artificial intelligence is also one of the major drivers of the neuromorphic chip market. The artificial intelligence can speed up data processing functions and efficiency in terms of performance of neuromorphic chips. Artificial intelligence is a machine learning technology that provides the computers with the skill to learn with partial programming. This involves the advancement of computer programs which are competent of updating themselves when exposed to simultaneous real time data sources.
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Rising demand of sensors in different industry verticals such as health care, logistics, military and defense, and automobiles has indirectly expanded the scopes of application of neuromorphic chips. In industrial sector, it is expected that demand for neuromorphic chip based intelligent sensors will increase significantly during forecast period.
Based on function, the market is segregated into signal processing, data processing, image recognition and others. Increasing demand for artificial intelligence and rising application wise penetration of miniaturization of neuromorphic chips is expected to drive the signal processing market during the forecast period
On the basis of application, the neuromorphic chips market is bifurcated into defense and aerospace, automotive, medical, industrial and others. The industrial segment had the highest revenue share in 2014 and it is expected that this segment will remain dominant application vertical in 2023. Demand for artificial intelligence and real time processing of data is set to positively impact growth in usage of neuromorphic chips in industrial sector.
Based on geography, the neuromorphic chips market can be segregated into four regions: North America, Europe, Asia-Pacific and Rest of the World. The North America neuromorphic chip market held the largest market share in 2014 and during the forecast period, this region is expected to retain its leadership position. Growing demand for neuromorphic chips in different industry verticals such as medical, industrial and aerospace & defense is primarily driving the demand in North America. Moreover, technological advancements in terms of product innovations are also positively impacting the growth of North American neuromorphic chip market. Moreover, rising industry level applications of neuromorphic chips for Internet of Things (IoT) technology is also driving the growth of the market in this region. In Asia Pacific, during the forecast period, it is expected that applications of neuromorphic chips in semiconductor & electronics industry will increase significantly. As of 2015, due to lack of infrastructure availability and lack of availability of technological resources, the market for neuromorphic chip is in nascent phase in rest of the world (ROW).
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Major industry participants include. Intel Corp. (U.S), Qualcomm Inc.(U.S), International Business Machine Corporation (U.S), General Vision Inc.(U.S), Brain Corporation (U.S), HRL Laboratories LLC (U.S), Vicarious FPC Inc.(U.S), Lockheed Martin Corporation (U.S), Hewlett Packard Corp.(U.S) and Samsung Electronics Co. Ltd. (South Korea) among others.