SAN FRANCISCO, August 24, 2016 /PRNewswire/ --
The neuromorphic computing market size is expected to reach USD 6,480.1 million by 2024 according to a new study by Grand View Research, Inc.The global neuromorphic computing market is expected to gain traction, owing to the rising demand for artificial intelligence. The prominent industry vendors are focusing on the development of neural processing units that can be incorporated into the processor chip for the reverse-engineering of the human brain.
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The rising demand for cognitive and brain robots is projected to impel growth in the industry. Neuromorphic chips facilitate users with several benefits such as high-performance speed, cognitive computing, optimum usage of memory, and low power consumption. The escalated demand in diverse industrial verticals, including consumer electronics, automotive, and robotics is instrumental in keeping the industry prospects upbeat.
The rise in the demand for aerial surveillance and satellite imagery is impelling growth in the industry. The growth in the audio and signal processing application segments is further presumed to positively impact the industry.
The growing demand in end-use segments, such as the automotive and military & defense sectors, is creating new avenues for industry expansion. However, the vendors need to make substantial investments in the research and development activities of neuroscience and computing before foraying into the industry. Replicating the neural patterns on chips requires the use of complex algorithms, which makes the design process more intricate.
Browse full research report with TOC on "Neuromorphic Computing Market Analysis By Application (Signal Processing, Image Processing, Data Processing, Object Detection, and Others) By End-use (Consumer Electronics, Automotive, Healthcare, Military & Defense, and Others), Expected To Reach USD 6,480.1 Million By 2024" at: http://www.grandviewresearch.com/industry-analysis/neuromorphic-computing-market
Further key findings from the study suggest:
Grand View Research has segmented the global neuromorphic computing market on the basis of application, end-use, and region:
Browse related reports by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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