Indoor Air Quality Monitor Market worth 4.63 Billion USD by 2022

 

According to the new market research report "Indoor Air Quality Monitor Market by Product (Fixed, and Portable Indoor Monitor), Pollutant Type (Chemical, Physical, and Biological), End–User Application (Government Buildings, Industrial, Commercial, Residential) - Global Forecast to 2022", the market is expected to grow from USD 2.52 Billion in 2015 to USD 4.63 Billion by 2022, at a CAGR of 9.22% between 2016 and 2022. The rising demand for indoor air quality monitoring products is due to the increasing adoption of smart home & green-building technologies, growing consumer preference for pollution-free indoor environments, and development and commercialization of innovative wearable air-quality monitoring devices.

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Market for portable indoor monitor to grow at the highest rate during the forecast period

On the basis of product, the global air indoor quality monitor market has been segmented into fixed and portable indoor monitors. The market for portable indoor monitors is expected to grow at the highest rate during the forecast period. The market growth can be attributed to the increasing adoption of smart homes and green-building technologies (including effective ventilation, air quality monitoring and control, and indoor dust & gas level management) and growing consumer preference for healthy and pollution-free indoor environments.

Chemical pollutant held the largest share of the indoor air quality monitor market in 2015

Chemical pollutants accounted for the largest share of the global indoor air quality monitor market in 2015. This can be attributed to factors such as the increasing number of stringent government regulations for effective monitoring and control of industrial exhausts, growing public concerns about the health implications of air pollution, and ongoing development and commercialization of innovative gas and chemical detection sensors.

Government buildings held the largest share of the indoor air quality monitor market in 2015

Government buildings accounted for the largest share of the overall indoor air quality monitor market in 2015. This can be attributed to the increasing focus of governments toward green buildings and growing health concerns due to rising air pollution. The governments in the countries such as the U.S., the U.K., and China, among others, have made stringent regulations for air pollution monitoring and have released funding for installing air quality monitors within their premises for continuous monitoring.

North America to hold the largest size of the indoor air quality monitor market during the forecast period

North America (comprising the U.S., Canada, and Mexico) is expected to hold the largest size of the indoor air quality monitor market during the forecast period. North America is a mature market, with the high penetration of advanced pollution monitoring technologies and the presence of well-established distribution channels for the supply of indoor air quality monitoring products. The U.S. is expected to dominate the market in this region in 2016. The market growth in the U.S. can be attributed to the significantly large end-user base for industrial and indoor air pollution monitoring products in the country compared to Canada. The major factors driving the growth of the market in the U.S. include significant public-private funding and investments to support air pollution monitoring-based researches and ongoing technological advancements in the field of gas analyzers and particulate sensors.

The major players operating in this market include Thermo Fisher Scientific, Inc. (U.S.), Siemens AG (Germany), Emerson Electric Co. (U.S.), 3M Company (U.S.), TSI, Inc. (U.S.),  Ingersoll Rand Plc. (Ireland), HORIBA, Ltd. (Japan), Testo AG (Germany), Aeroqual (U.S.), and Nest Labs Inc. (U.S.), among others.

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Edge AI Hardware Market Shipment to reach 1559.3 million units by 2024

 

The report "Edge AI Hardware Market by Device (Smartphones, Cameras, Robots, Automobile, Smart Speakers, Wearables, and Smart Mirror), Processor (CPU, GPU, ASIC and Others), Power Consumption, Process, End User Industry, and Region - Global Forecast to 2024", The edge AI hardware market is expected to register a shipment of 610 million units in 2019 and is likely to reach 1559.3 million units by 2024, at a CAGR of 20.64% during the forecast period. Major drivers for the market’s growth are growing demand for low latency and real-time processing on edge devices and emergence of AI coprocessors for edge computing. Further, underlying opportunities for the edge AI hardware market include growing demand for edge computing in IoT and dedicated AI processors for on-device image analytics. Major restraints for the market are limited on-device training and limited number of AI experts. Power consumption and size constraint pose major challenges to the edge AI hardware market.

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In Term of Device Type, the Market for Cameras is Expected to Grow at the Highest CAGR During the Forecast Period in the Edge AI Hardware Market

Cameras have been an integral part of various smart devices with Wi-Fi support, smart functions, superior speed, and enhanced performance for years. However, cameras as standalone smart devices with vision processing units (VPU) that help deliver power-efficient solutions for vision and artificial intelligence are now entering the market. Such devices are designed to run deep neural networks at high speed and low power without compromising on accuracy, which enables devices to see, understand, and respond to their environment in real time. The VPU market is constantly witnessing advancements. For instance, the previous-generation Myriad 2 VPU developed by Movidius offered deep neural network support at relatively low power. The new Myriad X VPU (introduced by Intel (US) in August 2017), however, can achieve roughly 10X better performance; with multiple neural networks running simultaneously, to offer extended autonomous capabilities across wide range of applications such as drones, robotics, VR, and smart cameras. Due to developments like these, the market is witnessing an influx of cameras powered by AI chips that allow these devices to judge moment’s best suited to capture stills or videos.

Smartphones is Expected to Hold the Largest Market for Edge AI Hardware

Dedicated AI chip or AI processors were one of the major developments in the smartphone technology last year. Increasing demand for real-time speech and voice recognition and analysis, as well as technical advancements in smartphone image recognition is driving the market for AI processors in smartphones. A majority of AI processors have an additional inbuilt Neural Processing Unit (NPU) that can handle significant amounts of parallel processing, uses low power, and is capable of cognitive tasks. Till date, most AI-related processing like prediction, detection, pattern matching, and classification tasks on mobile apps and assistants take place primarily in the cloud. However, with AI processors built in a phone, these AI tasks could be carried out right on the device, even without any connectivity; this would not only improve performance of the device, but also reduce strain on the battery. The AI features in smartphones at present are mainly focused on imaging and photography, power efficiency and security

In APAC, China is the Largest Contributor for Edge AI Hardware Market in Terms of Market Share

Currently, China is undertaking many projects, especially in the infrastructure sector, such as rail, airport, stadiums, and highway systems that are expected to require high-definition surveillance systems, which can capture clear images even in darkness. China is home to video surveillance players such as Dahua (China) and Hikvision (China) that dominate the video surveillance hardware market. Both Hikvision and Dahua have already launched deep learning surveillance cameras in the market. China has already started deploying cloud AI based surveillance cameras to monitor its citizens. This development will lead to adoption of edge AI in surveillance cameras. China is among the highest spenders on the manufacturing sector in APAC. The manufacturing sector in China is growing rapidly, resulting in the introduction of new robotics and big data technologies. In addition, China, being a global manufacturing hub, holds immense potential for the automotive industry. These factors are expected to fuel the growth of the edge AI hardware market in China as AI is increasingly being used in the country’s automotive and transportation sectors.

Intel Corporation (US), NVIDIA Corporation (US), Samsung Electronics Co., Ltd. (South Korea), Huawei Technologies Co., Ltd. (China), Google Inc. (US), MediaTek Inc. (Taiwan), Xilinx Inc. (US), Imagination Technologies Limited (UK), and Microsoft Corporation (US) are a few major players in the edge AI hardware market.

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Collaborative Robot Market (Cobot) expected to reach $7,972 million by 2026

 The report "Collaborative Robot (Cobot) Market by Payload, Component (End Effectors, Controllers), Application (Handling, Assembling & Disassembling, Dispensing, Processing), Industry (Electronics, Furniture & Equipment), and Geography - Global Forecast to 2026", is expected to grow from USD 981 million in 2020 to USD 7,972 million by 2026, at a CAGR of 41.8%. Collaborative robots are increasingly being adopted by various industries due to advantages such as increased productivity and effective employee utilization, as well as improved workplace safety. Small- and medium-sized businesses manufacturers, especially in developed countries, are expected to quickly adopt collaborative robots, as many of these smaller sized businesses are yet to adopt robotic automation in their production processes. Collaborative robots (cobots) can adapt to changing requirements as they are easily re-deployable and reprogrammable, which benefit small companies. Cobots are being adopted by large manufacturing companies as well for increased cost savings and improving the ergonomic work conditions for workers.

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Automotive industry to hold largest share of market throughout forecast period

Cobots in the automotive industry are not only being used by major car manufacturers, but also by numerous OEMs that supply automotive parts to these car manufacturers. As customers are demanding a greater degree of customization in their cars, manufacturers always have to be prepared for changes in their production layout to address changes in customer demands. Therefore, besides the precision and efficiency of traditional industrial robots, flexibility has also become a key factor in the manufacturing process. Cobots are also being used to perform ergonomically unfavorable jobs in the automotive industry. Due to the large-scale and manufacturing ecosystem of the automotive industry, which consists of OEMs and suppliers besides the large automotive companies, it is expected to hold the largest share of the market throughout the forecast period.

Market for assembling & disassembling applications to grow at highest CAGR during forecast period

Cobots are being used for assembly applications for both small and large workpieces. For smaller workpieces, cobots provide a greater degree of repeatability than traditional handheld screwdriving systems providing the right torque and depth, while also having the ability to work alongside workers, speeding up the overall assembly process. For medium and large-sized workpieces, cobots are being used for nut fastening. Hence cobots can perform simple assembly tasks more consistently, while the worker can simply supervise the operation to maintain quality control.

Collaborative robot market in APAC to grow at fastest rate during 2020–2026

The collaborative robot market in Europe is expected to be surpassed by APAC by 2021. This is due to the large scale of manufacturing industries in APAC, especially the automotive, electronics, and metals sectors who are increasingly deploying cobots. China, Japan, and South Korea account for most of the automotive vehicles in APAC, whereas Taiwan, China, and South Korea, account for the largest electrical and electronics manufacturers in the world. Regional players such as Doosan Robotics (South Korea) and Techman Robot (Taiwan) have successfully developed cobots, which can directly compete with cobot manufacturers from Europe. China has houses several low-cost manufacturers such as Elephant Robotics (China), Han’s Robot (China), and Siasun (China) who are driving the growing acceptance of cobots.

Major companies in the collaborative robot market are Universal Robots (Denmark), Techman Robot (Taiwan), FANUC (Japan), KUKA (Germany), Doosan Robotics (South Korea), AUBO Robotics (US), ABB (Switzerland), YASKAWA (Japan), Precise Automation (US), and Rethink Robotics (US). Apart from these, Automata (UK) Productive Robotics (US) are among a few emerging companies in the collaborative robot market.

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Die Bonder Equipment Market worth $972 million by 2024

 

According to the research report, "Die Bonder Equipment Market by Type (Semiautomatic Die Bonder, Fully Automatic Die Bonder), Bonding Technique, Supply Chain Participant (IDM Firms, OSAT Companies), Device, Application (Consumer Electronics), and Region - Global Forecast to 2024", is projected to grow from USD 820 million in 2019 to USD 972 million by 2024; it is expected to grow at a CAGR of 3.5% from 2019 to 2024. Key factors fueling the growth of this market are the rising demand for miniature electronic components and the increasing adoption of stacked die technology in IoT devices.

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“IDM firms accounted for largest share of die bonder equipment market in 2019”

In 2018, IDM firms captured the largest share of the die bonder equipment industry. Most of the IDM players such as Samsung (South Korea), Texas Instruments (US), Song (Japan), and STMicroelectronics (Switzerland) are tire 1 companies and have significant presence across the world, with a vast customer base. These companies are investing heavily in their R&D activities to develop technologically advanced, energy-efficient, and miniaturized products, such as RFID circuits, smart ICs, ultra-low-power microcontrollers, sensors for consumer electronics, automotive, and industrial applications. For instance, in 2018, Texas Instruments (US) and Samsung (South Korea) invested USD 1.6 billion and USD 16.8 billion, respectively, in research and development of technologically advanced and miniaturized products. IDMs use advanced die bonding equipment to accurately assemble complicated semiconductor equipment. Also, the dominance of IDM firms is expected to remain constant in the near future due to the growing number of semiconductor fabrication plants operated by IDM companies across the world.

“Market for MEMS and MOEMS is projected to grow at highest CAGR during forecast period”

Among devices, market for MEMS and MOEMS is projected to grow at the highest CAGR from 2019 to 2024. MEMS and MOEMS devices are increasingly being used in the automotive, consumer electronics, and industrial sectors. These devices need to be used in harsh environmental conditions. Therefore, the packaging and assembly of these devices should be strong enough to operate in harsh environmental conditions. This demand can be fulfilled by advanced die bonding methods and equipment. Hence, the market for MEMS and MOEMS is expected to grow at the highest CAGR during the forecast period.

“Asia Pacific (APAC) is expected to hold largest share of die bonder equipment market in 2024”

APAC is expected to hold the largest share of the die bonder equipment industry in 2024. The growing number of IDMs in the region is expected to boost the die bonder equipment market growth in the near future. Similarly, the mass production of electronic products, such as smartphones, wearables, and white goods, in China and Taiwan is also expected to accelerate market growth in APAC. Additionally, more than 60% of OSAT players present across the world have their headquarters in APAC. These OSAT companies use die bonding equipment in the semiconductor fabrication process.

BE Semiconductor Industries N.V. (Netherlands), ASM Pacific Technology Ltd. (Singapore), Kulicke & Soffa (Singapore), Mycronic AB (Sweden), Palomar Technologies, Inc. (US), West·Bond, Inc. (US), MicroAssembly Technologies, Ltd. (Israel), Finetech GmbH & Co. KG (Germany), Dr. Tresky AG (Switzerland), Smart Equipment Technology (France) are the key players in the die bonder equipment market. These players are increasingly undertaking strategies such as product launches, expansions, agreements, partnerships, collaborations, and acquisitions to increase their market share.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Focused Ion Beam Market worth $1,185 million by 2024

 

According to the research report "Focused Ion Beam Market by Ion Source (Ga+ Liquid Metal, Plasma), Application (Failure Analysis, Nanofabrication), Vertical (Electronics & Semiconductor, Industrial Science, Material Science, Bioscience), and Region - Global Forecast to 2024", is projected to grow from USD 820 million in 2019 to USD 1,185 million by 2024; it is expected to grow at a CAGR of 7.6% from 2019 to 2024. Key factors fueling the growth of this market include the rise in demand for failure analysis in the electronics & semiconductor industry and increase in demand for ion beam lithography process using focused ion beam systems for producing patterns across the surface of samples.

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“The Ga+ liquid metal segment accounted for the largest share of the focused ion beam market in 2019.”

In 2019, the Ga+ liquid metal segment captured the largest share of the focused ion beam market. The growth of this segment can be attributed to several advantages offered by focused ion beam systems using Ga+ liquid metal as an ion source. Moreover, the majority of manufacturers of focused ion beam systems are deploying Ga+ liquid metal ion sources in their systems. Several applications such as ion implanters, ion projection lithography, and particle accelerator injectors use plasma ion source-based focused ion beam systems.

“The failure analysis segment of the market is projected to grow at the highest CAGR during the forecast period.”

Among applications, the failure analysis segment of the focused ion beam market is projected to grow at the highest CAGR from 2019 to 2024. The growth of the failure analysis segment of the market can be attributed to the increased use of focused ion beam systems for carrying out the failure analysis of components or devices to recognize the cause leading to their failure during their manufacturing process. Manufacturers use focused ion beam systems to test and analyze the performance of different components or devices, thereby leading to an increased demand for these systems from the electronics & semiconductor vertical.

“The electronics & semiconductor segment of the focused ion beam market is projected to account for the largest size from 2019 to 2024.”

Among verticals, the electronics & semiconductor segment accounted for the largest share of the focused ion beam market in 2019. The growth of this segment can be attributed to the increasing consumer demand for fast, compact, pocket-friendly, and highly power-efficient portable devices. As the size of electronic components shrinks, it affects their reliability and performance. Focused ion beam systems are required to analyze the performance of these components.

“The focused ion beam market in APAC is projected to grow at the highest CAGR during the forecast period.”

The focused ion beam market in APAC is projected to grow at the highest CAGR from 2019 to 2024. The growth of the market in this region can be attributed to increased investments in R&D activities by government organizations and manufacturing companies as well as expansions of research centers carried out by focused ion beam system manufacturers in APAC. Governments of countries such as Japan, China, and India have been taking rapid initiatives to encourage companies to set up their manufacturing and R&D facilities there.

Key players in the market include Thermo Fisher Scientific, Inc. (US), Hitachi High-Technologies Corporation (Japan), ZEISS International (Germany), Tescan (UK), JEOL Ltd. (Japan), HORIBA, Ltd. (Japan), Eurofins Scientific (Luxembourg), and A&D Company, Limited (Japan). These players are increasingly undertaking product launches, agreements, partnerships, collaborations, joint ventures, and mergers and acquisitions to increase their market shares.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Atomic Force Microscopy (AFM) Market worth $586 million by 2024

 

The report "Atomic Force Microscopy (AFM) Market by Offering (AFM, Probes, Software), Grade (Industrial Grade, Research Grade), Applications (Materials Science, Life Sciences, Semiconductor & Electronics, Academics), and Region - Global Forecast to 2024",was valued at USD 441 million in 2019 and is projected to reach USD 586 million by 2024; it is expected to grow at a CAGR of 5.8% during the forecast period. The key drivers of atomic force microscopy is committed support from several governments to promote  nanotechnology and nanoscience research and development. Also, high demand for 3D ICs from semiconductor and electronics industry is is expected to lay new growth opportunity for atomic force microscopy market during the forecast period.

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Probes offering for Atomic Force Microscopy held the fastest market share in 2019

The market for probes is expected to grow at the highest CAGR. Probes play a dominant role in the AFM market, in terms of volume, as the lifecycle of probes is shorter than the complete atomic force microscope, thereby leading to a higher requirement for probes than AFM.

Industial grade to hold the largest market share in Atomic Force Microscopy market during the forecast year

The demand for indusrial grade microscopes is propelled by high-quality images to detect defects in miniaturized products. Hence, industrial grade AFM are more in demand owing to their high precision in detecting and visualizing even the smallest surface structures and defects in nanomaterials.

Semiconductors and electronics to hold the fastest market share in Atomic Force Microscopy market during the forecasted year

Semiconductors and electronics is expected to grow at the highest rate. The semiconductor industry is one of the major industries using advanced microscopes such as transmission electron microscopes, atomic force microscopes, 3D optical microscopes, and confocal microscopes. AFM is used extensively in the semiconductor industry for R&D, quality control (QC), monitoring process development, and failure analysis. The growing demand for miniature transistor chips, nanoelectronics, quantum dots, and optoelectronics is the key factor surging the demand for microscopes in the semiconductor industry

APAC hold the largest market share between 2019 and 2024

The growth of the atomic force microscopy in APAC market can be attributed to the growing R&D funding for the development of microscopes, increasing nanotechnology research, and growing expertise and academic excellence, along with the availability of nanomaterials at lower costs.

The major players in Atomic Force Microscopy market are Bruker (US), Park Systems (South Korea), Hitachi (Japan), Horiba (Japan), Oxforfd Instrumenst (UK), Nanosurf (Switzerland), WITec (Germany), NT-MDT (Russia), NanoMagnetics Instruments (UK), Nanonics Imaging (Israel).

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Neuromorphic Computing Market expected to reach $550,593 thousand by 2026

 

According to a research report "Neuromorphic Computing Market With Covid-19 Impact by Offering, Deployment, Application (Image Recognition, Signal Recognition, Data Mining), Vertical (Aerospace, Military, & Defense, Automotive, Medical) and Geography - Global Forecast to 2026" published by MarketsandMarkets, the neuromorphic computing market is expected to be valued at USD 22,743 thousand in 2021 and is projected to reach USD 550,593 thousand by 2026; it is anticipated to grow at a CAGR of 89.1% during the forecast period (2021–2026).

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The major factors driving the growth of the neuromorphic computing market are need for better performing ICs, increase in demand for artificial intelligence and machine learning, and increasing number of cross-industry partnerships and collaborations. However, several factors, such as lack of knowledge about neuromorphic computing and complex algorithms increasing complexity of designing hardware of neuromorphic chips are hindering the growth of neuromorphic computing market. Moreover, matching a human’s flexibility and ability to learn from unstructured stimuli data can act as a key challenge in the market during the forecast period.

Software is projected to witness the highest CAGR for the forecast period

Hardware are expected to hold a major share during the forecast period. The emergence of neuromorphic chips as a potential replacement for Von Neumann architecture, wherein they have separate units for storing information, and processing it sequentially limits memory usage, power consumption, and speed is expected to be the major driver for its growth during the initial years of commercialization. While the increasing adoption of software in industries such as aerospace & defense, IT & telecom, and medical would drive the growth of the market for neuromorphic computing software during the forecast period to register a higher CAGR.

Image Recognition to account for largest share of neuromorphic computing market during forecast period

Image Recognition is expected to witness rapid growth in the overall neuromorphic computing market. Aerospace, military & defense is the largest industrial user segment for image recognition, where it is used for surveillance and security, tracking, and targeting, and in drones. The growth of the image recognition segment is expected to be driven by the increasing adoption of drones and UAVs. Video monitoring and machine vision are the major uses driving the growth of the market for image recognition.

Edge Computing will have highest growth in coming years

The edge computing segment is expected to account for a 95% share of the overall neuromorphic computing market by 2026. The high growth of edge computing is attributed to its increasing use in applications such as responsive voice control for vehicles, full-body gesture recognition for touchless interfaces, and on-board intelligence for assistive robotics. Neuromorphic computing at edge is also apt for low-power and low-latency applications, and on-device adaptation.

Aerospace, Military, & Defense vertical is expected to hold the largest share in 2026

Neuromorphic computing can process information faster than any other processor; this helps the military & defense industry in processing sensitive data such as battlefield data, including weapons and resources management. Increasing requirement for testing and transmitting signals to securely code and transmit data from one end to another to reduce the threat of security issues is another factor driving the growth of the neuromorphic computing market for the aerospace, military & defense industry.

APAC is attributed to grow at the highest CAGR in the neuromorphic computing market during the forecast period (2021-2026)

APAC is expected to hold the second-largest share of ~37% of the global neuromorphic computing market in 2021. Countries such as China, Japan, and South Korea are expected to be the major contributors to the neuromorphic computing market in APAC. China is the largest market for AI, followed by Japan, in APAC; this makes the country an attractive market for neuromorphic computing for machine learning and NLP applications. While North America is expected to hold the largest share of ~40% of the global neuromorphic computing market in 2021. Extensive awareness about the benefits of neuromorphic computing in industries such as aerospace, military & defense and medical is a major driver for the dominance of this region. The US, being the leading adopter of artificial intelligence for machine learning, natural language processing (NLP), image processing, and speech recognition across industries such as medical and automotive, is driving the growth of the neuromorphic computing market in North America.

Key Market Players

The neuromorphic computing market was dominated by Intel Corp. (US), IBM Corporation (US), BrainChip Holdings Ltd. (US), Qualcomm (US) and HP Enterprise (US).

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