DELRAY BEACH, Fla. , Oct. 25, 2024 /PRNewswire/ -- The neuromorphic computing market is expected to grow from USD 28.
5 million in 2024 and is estimated to reach USD 1,325.2 million by 2030; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 89.7% from 2024 to 2030 according to a new report by MarketsandMarkets TM .
Growth in the neuromorphic computing market is driven through the integration of neuromorphic computing in automotive and space operations. In space, where bandwidth is limited, and the communication delay might be considered large, onboard processing capabilities are crucial. The neuromorphic processor analyzes and filters data at the point of collection, reducing the need to transmit large datasets back to Earth.
whereas, in automobile sector, neuromorphic processors can make autonomous driving systems more responsive by onboard real-time processing with minimal latency so that safety is ensured along with efficiency..
