Neuromorphic Computing Market Size Worth USD 37.18 Billion by 2034 | CAGR: 19.9%

The neuromorphic computing market size is expected to reach USD 37.18 billion by 2034, according to a new study by Polaris Market Research. The report “Neuromorphic Computing Market Share, Size, Trends, Industry Analysis Report: By Component, By Deployment (Edge and Cloud), By Application, By End Use, and By Region; Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Neuromorphic computing is a brain-inspired approach to computing that mimics the way biological neurons process and transmit information, enabling faster and more energy-efficient data processing.

The hardware and software need to work together seamlessly for neuromorphic computing to be effective. Over the past few years, significant advancements have been made in developing neuromorphic chips and corresponding software that can simulate the brain's neural networks. Companies are creating specialized chips that integrate memory and processing power, much like the brain does. This enables more efficient data processing and reduces power consumption. Neuromorphic computing systems become more practical and commercially viable as the integration between hardware and software improves, opening the door for wider adoption in industries such as AI, robotics, and healthcare, thereby driving the neuromorphic computing market growth.

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The rise of the Internet of Things (IoT) and edge computing has created new opportunities for neuromorphic computing. IoT devices, such as smart sensors and autonomous vehicles, often need to process data locally in real time without relying on cloud computing. Neuromorphic systems are ideal for these applications, as they can perform complex tasks efficiently while consuming minimal power. By mimicking how the brain processes information, neuromorphic chips allow these devices to make decisions and react instantly, which is crucial for applications such as smart homes, robotics, and autonomous vehicles. The growth of IoT and edge computing is fueling the demand for neuromorphic solutions.

Top of FormNeuromorphic Computing Market Report Highlights

• By end use, in 2024, the consumer electronics segment dominated the neuromorphic computing market revenue share due to rising demand for smarter, faster, and more energy-efficient devices such as smartphones, wearable tech, and smart home systems.
• The software segment, based on component, is expected to witness significant growth during the forecast period due to rising need for advanced algorithms that unlock the full potential of neuromorphic hardware.
• In 2024, North America dominated the market due to its strong research infrastructure and early adoption of advanced technologies.
• The Asia Pacific is expected to record the highest CAGR during the forecast period due to increasing investments in AI and semiconductor development.
• A few global key market players are International Business Machines Corporation (IBM); Intel Corporation; BrainChip; Qualcomm Technologies; Samsung Electronics; General Vision; Applied Brain Research; Hewlett Packard Enterprise; HRL Laboratories, LLC; and Synsense.

Polaris Market Research has segmented the market report on the basis of component, deployment, application, end use, and region:

By Component Outlook (Revenue, USD Billion; 2020–2034)

• Hardware
• Software
• Services

By Deployment Outlook (Revenue, USD Billion; 2020–2034)

• Edge
• Cloud

By Application Outlook (Revenue, USD Billion; 2020–2034)

• Signal Processing
• Image Processing
• Data Processing
• Object Detection
• Others

By End Use Outlook (Revenue, USD Billion; 2020–2034)

• Consumer Electronics
• Automotive
• Healthcare
• Military & Defense
• Others

By Regional Outlook (Revenue, USD Billion; 2020–2034)

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Vietnam
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America