Neuromorphic Chip Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)


Neuromorphic Chip Market Analysis:

The estimated size of the Neuromorphic Chip Market in 2023 is USD 0.08 billion, with a projected growth to reach USD 2.85 billion by 2028, exhibiting a compound annual growth rate (CAGR) of 104.70% during the forecast period (2023–2028).

The demand for neuromorphic chips in smartphones is driven by the growing use of biometrics and in-speech recognition. These chips are utilized to process audio data in the cloud and then transmit it back to the phone. Furthermore, the advancement of Artificial Intelligence (AI) necessitates increased computing power. However, low-energy neuromorphic computing has the potential to significantly shift applications that currently operate in the cloud to run directly on smartphones in the future, without significantly draining the phone battery.

Neuromorphic chips are a specific type of brain-inspired ASIC that implements Spiked Neural Networks (SNNs). Their objective is to achieve the parallel processing capabilities of the brain, while consuming an average power of tens of watts. The memory and processing units are integrated into a single abstraction, known as in-memory computing.

This design offers the advantage of dynamic and self-programmable behavior in complex environments. Unlike traditional bit-precise computing, neuromorphic hardware enables probabilistic models that mimic the brain’s highly stochastic nature. As a result, neuromorphic hardware is better suited for cognitive applications compared to precise computing.

Over the next decade, neuromorphic computing will revolutionize the nature and functionalities of various scientific and non-scientific applications. This includes mobile applications that increasingly require powerful processing capacities and capabilities.

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