SAN FRANCISCO, Oct. 21, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Neuromorphic Chips - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE Edition: 8; Released: April 2021 Executive Pool: 6836 Companies: 46 - Players covered include Brain Corp.; General Vision; Hewlett Packard Enterprise Development LP (HPE); Hrl Laboratories, LLC; IBM Corporation; Intel Corporation; Lockheed Martin Corporation; Qualcomm Technologies, Inc.; Samsung Electronics Co., Ltd. and Others. Coverage: All major geographies and key segments Segments: End-Use (Aerospace & Defense, Automotive & Transportation, Industrial Automation, Consumer Goods, Other End-Uses) Geographies: World; United States; Canada; Japan; China; Europe ( France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Neuromorphic Chips Market to Reach $8.5 Billion by 2026Amid the COVID-19 crisis, the global market for Neuromorphic Chips estimated at US$2.3 Billion in the year 2020, is projected to reach a revised size of US$8.5 Billion by 2026, growing at a CAGR of 24.2% over the analysis period. Aerospace & Defense, one of the segments analyzed in the report, is projected to record a 27.7% CAGR and reach US$1.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Automotive & Transportation segment is readjusted to a revised 24.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $881.8 Million in 2021, While China is Forecast to Reach $1.5 Billion by 2026The Neuromorphic Chips market in the U.S. is estimated at US$881.8 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.5 Billion by the year 2026 trailing a CAGR of 23.6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 21.5% and 20.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 17% CAGR.
Industrial Automation Segment to Reach US$1.2 Billion by the year 2026In the global Industrial Automation segment, USA, Canada, Japan, China and Europe will drive the 25.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$246.1 Million in the year 2020 will reach a projected size of US$1.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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SOURCE Global Industry Analysts, Inc.