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Neuromorphic Computing Market Size, Share & Industry Analysis, By Application (Signal Processing, Image Recognition, Data Mining, and Others), By Industry (Automotive, Healthcare, Consumer Electronics, Manufacturing & Industrial, Aerospace & Defense, and Others), and Regional Forecast, 2024 – 2028

Last Updated: July 01, 2024 | Format: PDF | Report ID: FBI108240



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The global neuromorphic computing market size was valued at USD 92,450 thousands in 2023 and is projected to grow from USD 139,291 thousands in 2024 to USD 672,056 thousands by 2028, exhibiting a CAGR of 48.2%. North America dominated the global market with a share of 32.31% in 2023.

Neuromorphic computing is a method of computer engineering inspired by the human brain structure and function. It creates networks of electronic neurons and uses hardware based on the capacities of neurons and synapses in biological brains. Spiking Neural Networks (SNNs), the most common form of neuromorphic hardware, simulate natural learning by dynamically re-mapping neural networks.

In the report, we have considered key players offering solutions, including IBM Corporation, Intel Corporation, BrainChip Holdings Ltd., Qualcomm, and others. Such neuromorphic technology powers autonomous Artificial Intelligence (AI) solutions that require energy efficiency and continuous deep learning. It opens new possibilities in computing and is used in robotics, healthcare, sensing, and large-scale AI applications. The COVID-19 pandemic positively affected the healthcare industry, with neuromorphic chips being used in hospitals and clinics globally. However, the pandemic negatively affected the automotive, consumer electronics, manufacturing, and other industries. The trade restrictions, supply chain & production disruptions reduced demand and spending across many sectors.

Moreover, the rise in demand for Machine Learning (ML) and artificial intelligence and better-performing Integrated Circuits (ICs) drive the neuromorphic computing market growth. For instance, the NeuRRAM neuromorphic chip, built by an international team of researchers, caters to a wide range of AI applications while consuming a small amount of energy.

Neuromorphic Computing Market Trends

Increasing Adoption of Neuromorphic Computing to Revolutionize the Internet of Things (IoT) Bolsters Market Growth

Neuromorphic computing enhances and revolutionizes the way devices communicate with each other. It uses artificial neural networks to process information, adding to quick decision-making without human intervention. It can quickly process large amounts of data from numerous Internet of Things (IoT) devices, making it ideal for home automation, self-driving cars, and medical diagnostics applications.

Furthermore, by using AI algorithms, such computing enables efficient network architectures and faster data processing. A self-driving car learning from other cars in its vicinity to make quicker decisions or an automated home learning from its occupants to adjust the temperature and lighting are some examples of efficient neuromorphic technology. Moreover, adopting such computing also increases IoT security, wherein the devices can detect suspicious activity using AI algorithms. For instance, in January 2024, Innatera unveiled a neuromorphic microcontroller at the CES 2024 show, the Spiking Neural Processor T1. The launch implies key advancements in energy-competent AI for sensor-edge use cases, including smart home devices, wearables, and IoT applications.

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Neuromorphic Computing Market Growth Factors

Rise in Demand for Artificial Intelligence and Machine Learning Technology to Drive the Neuromorphic Computing Market Growth

Neuromorphic computing enhances AI and ML applications, such as autonomous systems, computer vision, and natural language processing. It is well-suited for cutting-edge applications requiring real-time processing and low power consumption. Such applications include IoT devices, robotics, and autonomous vehicles. Many industries are automating their business operations to improve the efficiency and quality of their end products. The market is gaining attention and will have opportunities in industries, such as the military and cybersecurity, where such computing can aid in anomaly detection and image/object recognition by analyzing network traffic patterns. For instance, in September 2023, BrainChip Holdings Ltd, a neuromorphic AI IP producer, partnered with VVDN Technologies to deliver an Edge box based on neuromorphic technology. The device runs on various Edge AI applications utilizing BrainChip's Akida neuromorphic processors.

Moreover, the increasing number of research initiatives, collaborations between academia and industry, and government support contribute to the advancements of this field and the growth of this market.


Complexity of Integrating Neuromorphic Technologies in Existing Systems to Impede Market

Neuromorphic computing is still in its nascent stages with a limited scale and scope of applications. Developing such software and hardware requires extensive research and development, thus making it challenging for businesses to adopt and integrate into their existing systems. Also, the lack of standardized frameworks and programming languages makes it harder for developers to create algorithms. Moreover, research and development costs related to such computing are relatively high, making it difficult for SMEs and startups to adopt this technology.

Neuromorphic Computing Market Segmentation Analysis

By Application Analysis

Image Recognition Segment’s Growth Boosted by Robust Pattern Recognition and Real-time Analysis of Images

Based on application, the market is segmented into signal processing, image recognition, data mining, and others. The image recognition segment accounted for the largest market share due to advancements in image sensors and other processing technologies. Neuromorphic chips can process information in real time, which is vital for applications, such as autonomous vehicles, robotics, and medical imaging, where quick decisions based on visual data are essential.

The signal processing segment is forecasted to grow with the highest CAGR due to its growing popularity among applications, such as speech and audio processing, music analysis, medical diagnostics, and others.

By Industry Analysis

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Consumer Electronics Segment’s Growth Driven by Rising Number of Smartphones and Wearable Devices

Based on industry, the market is studied across automotive, healthcare, consumer electronics, manufacturing & industrial, aerospace & defense, and others. The consumer electronics segment holds the largest share of the market owing to the increasing use of laptops, PCs, smartphones, tablets, and other wearable smart devices. According to Cisco Systems, the number of connected wearable devices globally in 2022 reached 1,110 million. Also, in October 2023, Prophesee, a developer of cutting-edge neuromorphic vision systems, unveiled the GenX320 Event-based Metavision sensor. Customized for ultra-low-power Edge AI vision devices, this latest sensor iteration expands Prophesee’s technology reach into Edge markets, such as AR/VR headsets, security systems, touchless displays, and others. The growing need to reduce the size of integrated circuits in smartphones and other sensory devices leads to greater demands for neuromorphic chips, thus driving the market.

The automotive industry is expected to grow with the highest CAGR over the forecast period. Neuromorphic technology greatly enhances the performance of artificial intelligence and machine learning systems and enables tasks, such as autonomous driving, natural language processing, and image recognition.


We have studied the market across North America, Europe, Asia Pacific, and the rest of the world.

North America Neuromorphic Computing Market Size, 2023 (USD Thousands)

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North America holds the highest global neuromorphic computing market share owing to the digital maturity of the region. The region is gaining opportunities in semiconductor applications. For instance, the 2022 Chips and Science Act funded the U.S. Semiconductor industry with USD 39.0 billion to produce high-volume leading-edge memory chips. Moreover, the presence of key players delivers ample growth opportunities for market growth.

Asia Pacific is estimated to witness the highest CAGR over the projected period owing to the burgeoning technological advances in the semiconductor industry. The industry is experiencing demand for miniaturization of Integrated Circuits (ICs). Also, the automotive sector is estimated to grow significantly with the growing demands for autonomous cars and smart vehicles. For instance, in September 2023, Intelligent Hardware Korea (IHWK) teamed up with Microchip Technology to develop a neuromorphic computing platform for field programmable neuromorphic devices and neurotechnology devices. The partnership aimed at creating ultra-low-power analog processing unit for applications such as autonomous cars, generative AI models, voice processing, medical diagnosis, security/surveillance and commercial drones.

Europe is expected to grow rapidly during the projected period due to an increasing need for neuromorphic chips. The adoption and excessive use of smart sensors in many end-user industries, such as electronics, medical, and automotive, drives the need for such computing in the region. In addition, the region focuses on investing in neuromorphic research programs, initiatives, and vendors to accelerate the adoption of this technology. For instance, as per EE Times Europe, in April 2023, the EU’s Horizon Europe research and innovation program funded a research project, NimbleAI, to help design a 3D neuromorphic chip.

List of Key Companies in Neuromorphic Computing Market

Collaborations and Partnerships among Providers to Propel Market Growth

Key market participants are integrating and collaborating with similar companies to bring significant financial gains to both parties. Collaborations and partnerships assist businesses to cut costs by combining or sharing resources and increase sales.

For instance, in May 2023: Quantum Ventura Inc. and BrainChip Holdings Ltd. joined hands to develop cyber threat detection tools. The partnership aided Quantum in using BrainChip’s Akida technology to create cybersecurity applications for the U.S. Department of Energy.

List of Key Companies Profiled:


  • February 2024: SynSense partnered with iniVation to address the increasing demand for high-performance intelligent vision in consumer and industrial markets. The partnership aids in creating neuromorphic technology for stand-alone processors, vision sensors, and integrated compute-in-sensor devices across robotics, automotive, consumer electronics, and aerospace.

  • October 2023: SiLC Technologies launched the Eyeonic Vision System, a FMCW LiDAR machine vision solution. This technology facilitates rapid and accurate object detection, polarization intensity, and 3D depth, delivering millimeter-level precision beyond 1,000 meters.

  • September 2023: Eindhoven University of Technology researchers developed a method for training neuromorphic chips through a biosensor to identify cystic fibrosis. This "smart biosensor" emulates human brain communication, holding potential for point-of-care healthcare applications and allowing chips to adjust to their environments autonomously.

  • June 2023: BrainChip Holdings Ltd. collaborated with Lorser Industries Inc. to develop neuromorphic systems. The partnership enabled Brainchip’s Akida technology to provide neuromorphic computing solutions for software-defined radio (SDR) devices.

  • May 2023: BrainChip Holdings Ltd. partnered with CVEDIA to make advancements in Edge AI and neuromorphic technology. The partnership enabled the integration of the CVEDIA-RT platform and BrainChip’s Akida neuromorphic IP.


An Infographic Representation of Neuromorphic Computing Market

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The market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product/service types, and leading applications of the product. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that contributed to the growth of the market in recent years.

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Report Scope & Segmentation



Study Period


Base Year


Estimated Year


Forecast Period


Historical Period


Growth Rate

CAGR of 48.2% from 2024 to 2028


Value (USD Thousands)











By Application

  • Signal Processing

  • Image Recognition

  • Data Mining

  • Others (Object Detection and NLP)

By Industry

  • Automotive

  • Healthcare

  • Consumer Electronics

  • Manufacturing & Industrial

  • Aerospace & Defense

  • Others (Agriculture)

By Region

  • North America (By Application, Industry, and Country)

    • U.S.

    • Canada

    • Mexico

  • Europe (By Application, Industry, and Country)

    • U.K.

    • Germany

    • France

    • Italy

    • Rest of Europe

  • Asia Pacific (By Application, Industry, and Country)

    • China

    • India

    • Japan

    • Rest of Asia Pacific

  • Rest of the World (By Application and Industry)

Frequently Asked Questions

The market is projected to reach USD 672,056 thousands by 2028.

In 2023, the market was valued at USD 92,450 thousands.

The market is projected to grow at a CAGR of 48.2% during the forecast period.

Automotive is the leading industry in the market.

Rise in demand for artificial intelligence and machine learning technology to drive market growth.

Intel Corporation, IBM Corporation, BrainChip Holdings Ltd., Qualcomm, General Vision Inc., GrAI Matter Labs, Innatera Nanosystems, SynSense AG, Samsung Electronics Co. Ltd., and SK Hynix Inc. are the top players in the market.

North America is expected to hold the highest market share.

Signal processing is expected to grow with a remarkable CAGR during the forecast period.

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