Neuromorphic chips are, simply put, pattern-matching engines used to process information in the memory. These chips assist in enabling systems to perform various tasks such as data analytics, machine learning, and computer vision. Neuromorphic computing is primarily executed on hardware by transistors, oxide-based memristors, and threshold switches. Neuromorphic chips are a merger of transistors and memristors organized over a silicon fabrication chip, which minimizes memory consumption. The growing implementation of neuromorphic chips is expected to increase the performance, scalability, and sensitivity of machines.
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The global neuromorphic chip market is expected to be driven by the rising demand for artificial intelligence in the years to come. Artificial intelligence is a machine-learning technique that allows machines to learn new behaviors. With this, machines and computer programs become competent enough to upgrade themselves. The increasing demand for neuromorphic chips in the field of IoT technology is expected to propel the global neuromorphic chip market in the near future.
High Manufacturing Cost to be Major Restraint on Global Neuromorphic Chip Market
Going forward, the global neuromorphic chip market is expected to be affected by the high cost associated with the manufacturing of these chips. Further, difficulties in hardware designing are also predicted to hamper the growth of the global neuromorphic chip market. As of 2015, especially in developing nations, developments in neuromorphic computing have been unsuccessful due to the lack of technological resources and the scarcity of competent infrastructure. The growing implementation of neuromorphic chips in several end-use industries such as automotive, healthcare, and semiconductor and electronics is expected to create growth opportunities in the global neuromorphic chip market in the years to come.
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Industrial Segment to Drive Demand for Neuromorphic Chips
The global neuromorphic chip market is segmented on the basis of geography, function, and application. By application, the global neuromorphic chip market is classified into defense and aerospace, automotive, medical, industrial, and others. Data processing, image recognition, and signal processing are some of the major functions of neuromorphic chips. In 2014, the global neuromorphic chip market was led by the industrial segment, which is expected to maintain its dominance in the next few years.
Some of the prominent players expected to introduce innovations in the global neuromorphic chip market are Intel Corp. (U.S), International Business Machine Corporation (U.S), Brain Corporation (U.S), Vicarious FPC Inc. (U.S), Hewlett Packard Corp. (U.S), and Qualcomm Inc. (U.S). Leading organizations in the global neuromorphic chip market have realized that the most important factor for sustained growth is innovation. By concentrating on innovation and by using new production technologies, leading players are focusing on manufacturing advanced neuromorphic chips in the global market. With this, the global neuromorphic chip market is expected to be highly competitive in the years to come.
By geography, the global neuromorphic chip market is divided into Asia Pacific, North America, Europe, and Rest of the World. In 2014, North America dominated the global neuromorphic chip market. The rising number of applications is expected to benefit the global neuromorphic chip market across all geographical segments.