by Angela Guess

A new press release reports, “Technological advancements in the open-ended dominion of Artificial Intelligence (AI) are demanding advanced neuromorphic chips to serve as processors from machine learning and automated reasoning operations. According to a latest research by Future Market Insights, development of AI systems is fuelling the growth of global demand for neuromorphic chips. Scientists and researchers developing diverse AI platforms are integrating neuromorphic chips to improve smart functioning and reasoning abilities of machines. Governments from several parts of the world are inducing surplus expenditure towards development of AI systems, which is incidentally catalysing the demand for neuromorphic chips in the global tech industry.”

The release continues, “In 2015, about US$ 1.5 billion worth of revenues were attained through the global sales of neuromorphic chips. Increasing preference for neuromorphic engineering over conventional computing and a large-scale integration of analogue circuits for improving neurological & biological mimicking in smart machines continues to drive the demand in the global market for neuromorphic chips… Future Market Insights’ report, titled “Neuromorphic Chips Market: Global Industry Analysis & Opportunity Assessment, 2016-2026,” projects that the global neuromorphic chips market, which is currently valued at an estimated US$ 1.6 billion, will rake in revenues worth US$ 10,814.9 million by 2026 end. According to the report, the size of global neuromorphic chips market will expand exponentially – at 20.7% CAGR. Technical hurdles such as developing complex algorithms, and a sluggish commercialization of neuromorphic chips inhibits the market’s growth to some extent.”

Read more at SBwire.

Photo credit: Future Market Insights