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Market Leader - Neuromorphic Computing Market
The neuromorphic computing market is expected to grow from USD 6.6 Million in 2016 to USD 272.9 Million by 2022, at a CAGR of 86.0% during the forecast period. Major factors driving the growth of the neuromorphic computing market include increasing demand for data analytics, artificial intelligence, & machine learning and growth in the sensors market.
The companies operating in the neuromorphic computing market have adopted strategies such as new product launches and mergers & acquisitions over the last few years to grow in the market. Among these strategies, 80% of the developments were new product launches, while 20.0% of them included mergers & acquisitions.
General Vision Inc. (U.S.) is one of the leading providers of neuromorphic computing solutions in the market. The company is developing a leading edge of pattern recognition and image recognition technologies driven by the use and benefits of neuromorphic semiconductor components. It aims to deliver solutions for real-life problems, which are practical in terms of speed, power consumption, size, and cost. In May 2016, General Vision released a new version of its NeuroMem API compatible with two commercial chips featuring its neural network technology on silicon: (1) General Visionís CM1K chip and (2) the new Intelís Curie model. The new NeuroMem API is available for the Intel Arduino/Genuino 101 and for the General Visionís BrainCard.
IBM Corporation (U.S.) is another major player in the neuromorphic computing market. The company focuses on building capabilities in big data, analytics, and cognitive computing to keep pace with the rapidly advancing technology, which gives them the advantage and an edge over their competitors. New product developments and mergers & acquisitions are the major strategies adopted by the company. For instance, in August 2015, IBM developed ďrodent brainĒ chips that are designed with 48 million nerve cells, which is approximately equal to the number of neurons in a rodent head. These chips are used to identify images, recognize spoken words, and understand natural language. The company acquired AlchemyAPI, a leading provider of scalable cognitive computing application program interface (API) services and deep learning technology in March 2015. This acquisition is expected to accelerate IBMís development of next-generation cognitive computing applications.
Neuromorphic Computing Market by Offering (Hardware, Software), Application (Image Recognition, Signal Recognition, Data Mining), Industry (Aerospace & Defense, IT & Telecom, Automotive, Medical & Industrial) and Geography - Global Forecast to 2022
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