Lucintel's latest market report analyzed that neuromorphic chip provides attractive opportunities in the aerospace, military, automotive, consumer electronic, industrial, medical, and IT & telecommunication end use industries. The neuromorphic chip market is expected to reach $10.5 billion by 2028 with a CAGR of 26.1%. In this market, software is the largest segment by product, whereas aerospace and military is largest by end use.
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Based on product, the neuromorphic chip market is segmented into hardware and software. The software segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to its increasing application in aerospace & military, medicine, and information technology and telecommunication end use industries.
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The Neuromorphic Chip Market is marked by the presence of several big and small players. Some of the prominent players offering neuromorphic chip include Applied Brain Research, BrainChip Holdings, General Vision, IBM Corporation, Qualcomm Technologies, MemComputing, and Natural Intelligence.
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