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86% CAGR - Neuromorphic Computing Market Growth Potentially Worth $272.9 Million by 2022 Led by North America

The neuromorphic computing market is forecast to reach $272.9 million by 2022 from $6.6 million in 2016 at a CAGR of 86.0% during (2016-2022) driven by increasing demand for artificial intelligence and machine learning, need for better performing ICs and

PUNE, India, Sept. 25, 2016 /PRNewswire-iReach/ -- Increasing adoption of software for various applications expected to drive the growth of the neuromorphic computing market. Increasing adoption of software, due to its applications such as continuous online learning, real-time data streaming, predictive analysis, and data modeling, in video monitoring, machine vision, and voice identification applications is expected to be a major driving factor for the growth of the market. Lack of R&D investments and lack of knowledge about neuromorphic computing among consumers are the major restraints of neuromorphic computing market. Complete report on "Neuromorphic Computing Market" spread across 163 pages, profiling 08 companies and supported with 70 tables and 68 figures is now available at http://www.rnrmarketresearch.com/neuromorphic-computing-market-by-offering-hardware-software-application-image-recognition-signal-recognition-data-mining-industry-aerospace-defense-it-telecom-automotive-medical-industrial-and-ge-st-to-2022-market-report.html .

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Image recognition application holds the largest share of the neuromorphic computing market for the aerospace & defense industry. Image recognition application holds the largest share of the neuromorphic computing market for the aerospace. Various approaches to allow neuromorphic computing to learn algorithms are based on the image recognition technology. Aerospace & defense is the largest application area for image recognition since it is used for surveillance and security, tracking, and targeting and in drones. Growth in the market for image recognition is expected to be driven by the increasing adoption of drones and UAVs. Video monitoring and machine vision are the major factors driving the growth of the market for image recognition.

This research study is obliging for following audience:

  1. Fabless manufacturers
  2. Pure-play semiconductor foundries
  3. Research laboratories in universities
  4. Government institutions
  5. Research organizations
  6. Forums, alliances, and associations
  7. Industries such as aerospace & defense, automotive, IT & telecom, industrial, and medical, among others

The neuromorphic computing market in North America grows at the highest rate in the coming years. High awareness pertaining to the benefits of neuromorphic computing in various industries such as aerospace, military & defense and medical is a major driver for the growth of the neuromorphic computing market in North America. The U.S. being the leading country in the adoption of artificial intelligence for machine learning, natural language processing (NLP), image processing, and speech recognition across industries such as healthcare and automotive & transportation is driving the growth of the neuromorphic computing market in North America.

Major players operating in the neuromorphic computing market include IBM Corp.(U.S.), HP Corp. (U.S.), Samsung Electronics Ltd. (South Korea), Intel Corp. (U.S.), HRL Laboratories, LLC (U.S.), General Vision Inc. (U.S.), Applied Brain Research Inc. (U.S.), and BrainChip Holdings Ltd. (U.S.). Make an Inquiry on "Neuromorphic Computing Market by Offering (Hardware, Software), Application (Image Recognition, Signal Recognition, Data Mining), Industry (Aerospace & Defense, IT & Telecom, Automotive, Medical & Industrial) and Geography - Global Forecast to 2022" research report at http://www.rnrmarketresearch.com/contacts/inquire-before-buying?rname=696522 .

In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (35%), Tier 2 (40%) and Tier 3 (25%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level Executives (45%), Directors (35%) and Managers (20%) from various key organizations operating in the neuromorphic computing market. The primary interviews were conducted worldwide covering regions such as North America (40%), Europe (30%), APAC (20%) and RoW (10%).

On a related note, another research titled Image Recognition Market Global Forecast To 2022 says, the global image recognition market to grow from USD 12.49 billion in 2015 to USD 29.98 billion by2020, at a CAGR of 19.1%. Asia-Pacific (APAC) is expected to become one of the major adopters of image recognition techniques by 2020. Increasing demand for data analytics will create new opportunities in this market. Companies such as Qualcomm Technologies, NEC Corporation, Google, Inc., LTU Technologies, Catchoom Technologies S.L., Honeywell International, Inc., Hitachi Ltd., SLYCE Holding, Inc, WIkitudeGmbh and Attrasoft, Inc. have been profiled in this 138 pages research report available at http://www.rnrmarketresearch.com/image-recognition-market-by-technology-pattern-recognition-by-component-hardware-software-service-by-application-marketing-and-advertising-by-deployment-type-on-premises-and-cloud-by-industry-vertical-st-to-2022-market-report.html .

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