Neural Processor Market

Neural Processor Market Research, 2031

The global neural processor market was valued at $162.1 million in 2021, and is projected to reach $849.8 million by 2031, growing at a CAGR of 18.1% from 2022 to 2031.

A neural processor, also known as a neural processing unit (NPU), is a specialized circuit that implements all of the control and arithmetic logic required to run machine learning algorithms, often by working on predictive models like artificial neural networks (ANNs) or random forests (RFs). Neural processor can be built digitally or analogically. Analog chips more closely resemble the biological qualities of neural networks than digital processors. For replicating the differential equations of neurons in analogue architecture, only a few transistors are used. As a result, they should use less energy than digital neuromorphic processors in theory. Furthermore, they have the ability to extend the processing period beyond the time allotted. This feature allows the pace to be increased to process data quicker than in real-time. However, due to the analog architecture, there is more noise, which reduces precision. All these factors are assisting the growth of the neural processor market share globally.

The neural processor market has been severely impacted by the outbreak of the COVID-19 pandemic. With governments of several nations imposing and extending lockdowns, production and manufacturing facilities across the globe have been shut down, owing crisis and unavailability of workforce. Considering the inputs from various industry experts belonging to the various stages of the value chain, such as OEMs, suppliers, integrators, end users, and distributors, and the financial release of various companies in the neural processor ecosystem, it is calculated that the market has experienced a decline during 2019–2020. Furthermore, the outbreak of the pandemic has disrupted the global supply chain, thereby creating significant gap in supply chain. Economic impact of the pandemic has been disruptive. Key players operating in the neural processor industry temporarily witnessed a slowdown, owing to lack of availability of skilled professional to develop neural processor market solutions, which has led to decline in revenues for the financial year 2020 to 2021. However, it is expected that the market will recover from 2021 and remain in the growth stage during the forecast period.

The neural processor market is segmented into Application and End User.

By application, the market is divided into fraud detection, hardware diagnostics, financial forecasting, image optimization, and other applications. The hardware diagnostics segment was the highest revenue contributor to the market in 2021.

As per end user, it is segmented into BFSI, healthcare, retail, defense agencies, media, logistics, and others. The retail segment was the highest revenue contributor to the market in 2021.

Region wise, the neural processor market trends are analyzed across North America (the U.S. and Canada), Europe (France, Germany, Italy, Spain UK, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

The increasing adoption of the machine learning approach in various sectors such as BFSI, healthcare, retail, and others along with rapid transition in the information industry are a few of the critical factors responsible for the growth of the neural processor market. The neural net processor is extensively used for developing an operational effective predictive model and maximize resource utilization.

They have been introduced in the fields of computer vision, robot kinetics, pattern recognition, speech recognition, data analytics, data compression, and many more. The increasing use of data in the various fields is boosting the growth of the neural processor market.

Significant factors that impact growth of the neural processor industry include surge in applications of neural processors in automotive industry. Moreover, rapid adoption of AI to improve consumer services and reduce operational cost is expected to drive the neural processor market growth. However, lack of skilled AI workforce acts as a prime barrier for early adoption, which hampers growth of the neural processor market share. On the contrary, introduction of AI to edge devices offers potential growth opportunities for the neural processor market size.

Competitive analysis and profiles of the major neural processor industry players, such as Applied Brain Research Inc., Aspinity, Inc., Bitbrain Technologies, BrainCo, Inc., BrainChip Inc., General Vision, Inc., Halo Neuroscience, HRL Laboratories, LLC, Hewlett Packard Enterprise Development LP, and Samsung Electronics are provided in this report.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the neural processor market analysis from 2021 to 2031 to identify the prevailing neural processor market opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the neural processor market overview assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global neural processor market trends, key players, market segments, application areas, neural processor market forecast and market growth strategies.

 Neural Processor Market Report Highlights