According to Stratistics MRC, the Global neuromorphic chip Market is accounted for $1.02 billion in 2015 and is expected to reach $4.56 billion by 2022 growing at a CAGR of 23.8% during the forecast period. Growing demand of artificial intelligence and growing demand of neuromorphic chip in the field of Internet Of Things (IOT) technology are some of the key factors fueling the market growth. Difficulties involved in hardware designing of neuromorphic chips are expected to hinder the market growth. The signal processing function occupied a significant share of neuromorphic chip due to rising application of these chips in different end user industries. North America held the largest market share and is anticipated to sustain its position due to rising demand for neuromorphic chips in the aerospace and defense sector.
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Some of the key players in the market include Hewlett Packard Corp., Qualcomm Inc, International Business Machine Corporation, Samsung Electronics Co. Ltd., Brain Corporation, Lockheed Martin Corporation, General Vision Inc, Vicarious FPC Inc, HRL Laboratories LLC, Intel Corp, MIT Technology and Advanced Semiconductor Engineering.
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