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The Global Neuromorphic Computing Market size is expected to reach $3.7 billion by 2023, rising at a market growth of 18.3% CAGR during the forecast period. Demand for artificial intelligence in language processing, translation and chatterbots, nonlinear controls and robotics, and computer vision and image processing, and others would drive the market growth. The combination of neuroscience computation and embodied models has driven the demand for design and development of neuromorphic chips for brain-based robots and cognitive robots. Machine learning tools have additionally contributed to the market expansion. Lack of research and development activities and need for substantial investment are the factors that would limit the market growth.
Based on Application, the Neuromorphic Computing market segments the market into Image Processing, Signal Processing, Data Mining, and Others. Based on End User, the market report segments the market into Consumer Electronics, Automotive, Military & Defense, Healthcare, and Others. Based on Regions, the Neuromorphic Computing market segments the market into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the competition analysis of key stake holders of the Global Neuromorphic Computing Market. Key companies profiled in the report include IBM Corporation, Hewlett Packard Enterprise (HPE) Company, Samsung Electronics Co. Ltd., Intel Corporation, Qualcomm Incorporated, General Vision Inc., Brain Corporation, Vicarious, Knowm Inc., and Numenta.