Dublin, Sept. 18, 2020 (GLOBE NEWSWIRE) -- The "Neuromorphic Chips - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Neuromorphic Chips estimated at US$2.3 Billion in the year 2020, is projected to reach a revised size of US$10.4 Billion by 2027, growing at a CAGR of 24.2% over the analysis period 2020-2027. Aerospace & Defense, one of the segments analyzed in the report, is projected to record a 27.7% CAGR and reach US$1.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Automotive & Transportation segment is readjusted to a revised 24.2% CAGR for the next 7-year period.
The Neuromorphic Chips market in the U.S. is estimated at US$682.1 Million in the year 2020. China, the world’s second largest economy, is forecast to reach a projected market size of US$1.8 Billion by the year 2027 trailing a CAGR of 23.6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 21.5% and 20.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 17% CAGR.
In the global Industrial Automation segment, USA, Canada, Japan, China and Europe will drive the 25.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$246.1 Million in the year 2020 will reach a projected size of US$1.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.2 Billion by the year 2027.
The report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others:
- Brain Corp.
- General Vision
- Hewlett Packard Enterprise Development LP (HPE)
- HRL Laboratories, LLC
- IBM Corporation
- Intel Corporation
- Lockheed Martin Corporation
- Qualcomm Technologies, Inc.
- Samsung Electronics Co., Ltd.
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Neuromorphic Chip - A Prelude
- Global Competitor Market Shares
- Neuromorphic Chip Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- The End of Moore's Law Paves Way for Adoption of Neuromorphic Computing: A Significant Growth Driver
- Surge in Need for Better Performing ICs and Miniaturization of Devices Boosts Demand for Neuromorphic Chips
- Neuromorphic Chips: Future of Artificial Intelligence and Machine Learning
- Global Deep Learning Market: Revenues in US$ Billion for the Years 2018, 2020, 2022 and 2024
- Increase in Demand for IoT-based Wearable Devices Fuels Market Growth
- Global IoT Devices Market: Installed base in Billion Units for the Years 2019, 2021, 2023, 2025
- Increasing Automation in Emerging Applications such as High-tech Robots and Autonomous Cars: Opportunity for Neuromorphic Chips Market
- Increasing Importance of Neuromorphic Computing in Cyber Security Facilitates Market Growth
- Challenges
- Lack of R&D and Investments Slowing Down the Development of Real-World Applications
- Complex Algorithms Increase the Complexity of Designing Hardware of Neuromorphic Chips
- Innovations and Advancements
- Product Overview
- Neuromorphic Chip: Definition
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/kksed3
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