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.
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.
Neuromorphic 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
- 1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
- 2. Executive Summary
- 2.1. Market Highlights
- 3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
- 4. Global Neoteric Solvents Market Insights
- 4.1. Neoteric Solvents Market – Market Snapshot
- 4.2. Neoteric Solvents Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Stringent Environmental Regulations and Green Chemistry Initiatives
- 4.2.1.2. Advancements in Material Science and Process Efficiency
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Volatile raw material prices
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Neoteric Solvents Market Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
- 5. Global Neoteric Solvents Market, by Type
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 5.3. Ionic Liquids (ILs)
- 5.3.1. Global Neoteric Solvents Market, by Ionic Liquids (ILs), by Region, 2020–2034 (USD Million)
- 5.4. Deep Eutectic Solvents
- 5.4.1. Global Neoteric Solvents Market, by Deep Eutectic Solvents, by Region, 2020–2034 (USD Million)
- 5.5. Supercritical Fluids
- 5.5.1. Global Neoteric Solvents Market, by Supercritical Fluids, by Region, 2020–2034 (USD Million)
- 5.6. Bio-based Solvents
- 5.6.1. Global Neoteric Solvents Market, by Bio-based Solvents, by Region, 2020–2034 (USD Million)
- 5.7. Others
- 5.7.1. Global Neoteric Solvents Market, by Others, by Region, 2020–2034 (USD Million)
- 6. Global Neoteric Solvents Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 6.3. Pharmaceuticals & Life Sciences
- 6.3.1. Global Neoteric Solvents Market, by Pharmaceuticals & Life Sciences, by Region, 2020–2034 (USD Million)
- 6.4. Chemical & Industrial Processing
- 6.4.1. Global Neoteric Solvents Market, by Chemical & Industrial Processing, by Region, 2020–2034 (USD Million)
- 6.5. Energy & Electronics
- 6.5.1. Global Neoteric Solvents Market, by Energy & Electronics, by Region, 2020–2034 (USD Million)
- 6.6. Agriculture
- 6.6.1. Global Neoteric Solvents Market, by Agriculture, by Region, 2020–2034 (USD Million)
- 6.7. Others
- 6.7.1. Global Neoteric Solvents Market, by Others, by Region, 2020–2034 (USD Million)
- 7. Global Neoteric Solvents Market, by Geography
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Neoteric Solvents Market Assessment, By Geography, 2020–2034 (USD Million)
- 7.3. Neoteric Solvents Market – North America
- 7.3.1. North America: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.3.2. North America: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.3.3. Neoteric Solvents Market – U.S.
- 7.3.3.1. U.S.: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.3.3.2. U.S.: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.3.4. Neoteric Solvents Market – Canada
- 7.3.4.1. Canada: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.3.4.2. Canada: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.4. Neoteric Solvents Market – Europe
- 7.4.1. Europe: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.4.2. Europe: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.4.3. Neoteric Solvents Market – UK
- 7.4.3.1. UK: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.4.3.2. UK: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.4.4. Neoteric Solvents Market – France
- 7.4.4.1. France: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.4.4.2. France: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.4.5. Neoteric Solvents Market – Germany
- 7.4.5.1. Germany: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.4.5.2. Germany: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.4.6. Neoteric Solvents Market – Italy
- 7.4.6.1. Italy: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.4.6.2. Italy: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.4.7. Neoteric Solvents Market – Spain
- 7.4.7.1. Spain: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.4.7.2. Spain: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.4.8. Neoteric Solvents Market – Netherlands
- 7.4.8.1. Netherlands: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.4.8.2. Netherlands: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.4.9. Neoteric Solvents Market – Russia
- 7.4.9.1. Russia: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.4.9.2. Russia: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.4.10. Neoteric Solvents Market – Rest of Europe
- 7.4.10.1. Rest of Europe: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.4.10.2. Rest of Europe: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.5. Neoteric Solvents Market – Asia Pacific
- 7.5.1. Asia Pacific: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.5.2. Asia Pacific: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.5.3. Neoteric Solvents Market – China
- 7.5.3.1. China: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.5.3.2. China: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.5.4. Neoteric Solvents Market – India
- 7.5.4.1. India: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.5.4.2. India: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.5.5. Neoteric Solvents Market – Malaysia
- 7.5.5.1. Malaysia: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.5.5.2. Malaysia: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.5.6. Neoteric Solvents Market – Japan
- 7.5.6.1. Japan: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.5.6.2. Japan: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.5.7. Neoteric Solvents Market – Indonesia
- 7.5.7.1. Indonesia: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.5.7.2. Indonesia: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.5.8. Neoteric Solvents Market – South Korea
- 7.5.8.1. South Korea: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.5.8.2. South Korea: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.5.9. Neoteric Solvents Market – Australia
- 7.5.9.1. Australia: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.5.9.2. Australia: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.5.10. Neoteric Solvents Market – Rest of Asia Pacific
- 7.5.10.1. Rest of Asia Pacific: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.5.10.2. Rest of Asia Pacific: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.6. Neoteric Solvents Market – Middle East & Africa
- 7.6.1. Middle East & Africa: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.6.2. Middle East & Africa: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.6.3. Neoteric Solvents Market – Saudi Arabia
- 7.6.3.1. Saudi Arabia: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.6.3.2. Saudi Arabia: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.6.4. Neoteric Solvents Market – UAE
- 7.6.4.1. UAE: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.6.4.2. UAE: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.6.5. Neoteric Solvents Market – Israel
- 7.6.5.1. Israel: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.6.5.2. Israel: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.6.6. Neoteric Solvents Market – South Africa
- 7.6.6.1. South Africa: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.6.6.2. South Africa: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.6.7. Neoteric Solvents Market – Rest of Middle East & Africa
- 7.6.7.1. Rest of Middle East & Africa: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.6.7.2. Rest of Middle East & Africa: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.7. Neoteric Solvents Market – Latin America
- 7.7.1. Latin America: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.7.2. Latin America: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.7.3. Neoteric Solvents Market – Mexico
- 7.7.3.1. Mexico: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.7.3.2. Mexico: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.7.4. Neoteric Solvents Market – Brazil
- 7.7.4.1. Brazil: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.7.4.2. Brazil: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.7.5. Neoteric Solvents Market – Argentina
- 7.7.5.1. Argentina: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.7.5.2. Argentina: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 7.7.6. Neoteric Solvents Market – Rest of Latin America
- 7.7.6.1. Rest of Latin America: Neoteric Solvents Market, by Type, 2020–2034 (USD Million)
- 7.7.6.2. Rest of Latin America: Neoteric Solvents Market, by Application, 2020–2034 (USD Million)
- 8. Competitive Landscape
- 8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
- 9. Company Profiles
- 9.1. Avantium B.V.
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
- 9.2. BASF SE
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. Cargill, Incorporated
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. Ionic Liquids Technologies GmbH (IoLiTec)
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. Merck KGaA
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. Proionic GmbH
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7. Sanyo Chemical Solutions
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. Scionix Ltd.
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. Solvionic SA
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
- 9.10. Tokyo Chemical Industry Co., Ltd.
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
- 9.11. Wilmar International Limited
- 9.11.1. Company Overview
- 9.11.2. Financial Performance
- 9.11.3. Product Benchmarking
- 9.11.4. Recent Development
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