Neuromorphic Chips Market Growth Forecast at 26.31% CAGR During 2016-2022

PUNE, India, September 23, 2015 /PRNewswire/ --

The forecast of neuromorphic chips market is based on technology developments and the market is segmented on the basis of application segments into image recognition, speech recognition, and data mining.

Complete report on neuromorphic chips market spread across 170 pages, profiling 8 companies and supported with 40 tables and 69 figures is now available at http://www.rnrmarketresearch.com/neuromorphic-chip-market-by-application-image-recognition-speech-recognition-data-mining-end-user-industry-aerospace-defense-military-medical-industrial-automotive-consumer-other-industries-and-geography-global-forecast-analy-market-report.html .

The image recognition segment is expected to be the largest contributor to the overall neuromorphic chips market, with a share of ~45.90% of the market in 2016. Signal recognition and data mining are expected to grow at CAGRs of 23.65% and 12.77%, respectively, during the forecast period. Geographically, North America is expected to grow at the highest CAGR of 33.85% between 2016 and 2022, followed by Europe. However, Asia-Pacific is expected to hold the highest market share of 50.86% for neuromorphic chip market in 2016. The major driver for the neuromorphic chips market is the miniaturization of integrated circuits which resulted into high transistor cost. Other drivers include adoption of neuromorphic chip include the growing demand for data analytics and the growing sensor market. Growth of artificial intelligence and machine learning also contributes to the growth of neuromorphic chips market.

The forecast of neuromorphic chips market is based on developments in the technology. For instance, Qualcomm Inc. (U.S.) is expected to commercialized its Snapdragon 820 that is equipped with neuromorphic capabilities that are developed by using its cognitive 'Zeroth' platform, furthermore, DARPA has invested USD 100 million in IBM Inc. (U.S.) and HRL Laboratories (U.S.) under  SYNAPSE project to develop neuromorphic chips. The demand for neuromorphic chip arises with the growing demand for data analytics and Internet of Things. The consumer sector is expected to be the largest contributor to the overall neuromorphic chips market, with a share of 99.76% of the market in 2016. The aerospace, military & defense would follow the consumer industry, and hold 0.24% of market share in 2016. Rest of the end user industries are expected to adopt neuromorphic chip by 2018.

Companies profiled in this neuromorphic chips market research include International Business Machine (IBM) Corporation, Hewlett Packard Corp., Samsung Group, Intel Corp., Qualcomm Inc., Brain Corporation, HRL Laboratories, LLC and General Vision. Order a copy of Neuromorphic Chip Market by Application (Image recognition, Speech Recognition, Data Mining) , End-User Industry (Aerospace, Defense & Military, Medical, Industrial, Automotive, Consumer, Other Industries), and Geography - Global Forecast & Analysis to 2016 - 2022 research report at http://www.rnrmarketresearch.com/contacts/purchase?rname=417868 .

This report describes the value chain of the neuromorphic chips market, taking into consideration all the major stakeholders in the market and their role analysis. The report also provides a detailed study based on the Porters' Five Forces framework for the market. All the five major factors in this market have been quantified using the internal key parameters governing each of them. The report also includes the company profiles of the leading players in the neuromorphic chip industry along with their recent developments and other strategic business activities. The competitive landscape section of the report outlines the potential of the key companies in the neuromorphic chips market.

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