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Neuromorphic Computing Market worth $1,325.2 million by 2030 – Exclusive Report by MarketsandMarkets™

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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™. 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.

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Browse in-depth TOC on “Neuromorphic Computing Market” 
167 – Tables
69 – Figures
256 – Pages

Neuromorphic Computing Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 28.5 million

Estimated Value by 2030

$ 1,325.2 million

Growth Rate

Poised to grow at a CAGR of 89.7%

Market Size Available for

2020–2030

Forecast Period

2024–2030

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Offering, Deployment, Application, Sensor Fusion and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Matching a human’s flexibility and ability to learn from unstructured stimuli data

Key Market Opportunities

Increasing adoption of neuromorphic computing solutions in healthcare sector

Key Market Drivers

Growing application of AI and ML fuelling demand for neuromorphic computing

By Offering, software segment is projected to grow at a high CAGR of neuromorphic computing market during the forecast period.

The software segment is expected to grow at a fast rate in the forecasted period. Neuromorphic software has its roots in models of neural systems. Such systems entail spiking neural networks (SNNs), that attempt to replicate the properties of biological neurons in terms of their firing patterns. In contrast to the typical artificial neural networks using continuous activation functions, SNNs utilize discrete spikes for communication, a feature that is also found in the brain. With intelligence embedded directly into the edge devices and IoT sensors, the potential for neuromorphic systems to perform even the most complex tasks such as pattern recognition and adaptive learning with considerably less power consumption remains. This efficiency stretches the lifetime of device operations while cutting down on the overall energy footprint, thus spurring demand for neuromorphic software that can harness these benefits and optimize performance for real-world edge and IoT applications.

By deployment, cloud segment will account for the highest CAGR during the forecast period.

Cloud segment will account for the high CAGR in the forecasted period. Cloud computing benefits from offering central processing power, which enables large-scale computational resources and storage capacities accessible from remote data centers. This is useful because neuromorphic computing, has been very often associated with complex algorithms and large-scale data processing. In the cloud, such huge resources can be utilized to train neuromorphic models, run large-scale simulations, and process enormous datasets. The scalable infrastructure of cloud platforms allows neuromorphic computing applications to dynamically adjust resources according to demand. It is a key factor for the training and deployment of high-scale neuromorphic networks, as their computation requirements are considerable especially during peak loads, driving its demand in the market.

Natural language processing (NLP) segment is projected to grow at a high CAGR of neuromorphic computing market during the forecast period.

Natural Language Processing (NLP) is a branch of artificial intelligence focused on giving computers the ability to understand text and spoken words in much the same way human beings can. NLP represents a promising application of neuromorphic computing, leveraging the brain- inspired design of spiking neural networks (SNNs) to enhance the efficiency and accuracy of language data processing. Low-power, high-performance solutions are required by the expanding demand for real-time efficient language processing in devices-from smartphones to IoT devices. Neuromorphic computing fits well within these requirements with its energy-efficient architecture. Progress over time with improvements in SNNs is also advancing its ability to approach complex NLP tasks, which are closer to being adapted for commercial and industrial markets. SNNs provide improved energy efficiency, demonstrated through being able to achieve up to 32x better energy efficiency during inference and 60x during training compared with traditional deep neural networks, further underlines the benefits of adding neuromorphic computing to NLP systems. Besides cost-efficiency in the field of NLP systems, such efficiency enables deploying complex language models even on devices with reduced resources. This leads to making neuromorphic NLP applications even more relevant to wider adoption and growth.

Industrial vertical in neuromorphic computing market will account for the high CAGR by 2030.

Industrial segment will account for the high CAGR in the forecasted period. In the industrial vertical, manufacturing companies use neuromorphic computing for developing and testing end products, manufacturing delicate electronic components, printing products, metal product finishing, testing of machines, and security purpose. Neuromorphic computing can be used in these processes to store the data in chips, and the images can be extracted from the devices for further use. Neuromorphic computing also helps monitor the condition of the machines by analyzing the previous signals and comparing them with current signals. These advantages lead to high demand for neuromorphic processors and software in industrial vertical.

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Asia Pacific will account for the highest CAGR during the forecast period.

The neuromorphic computing industry in Asia Pacific is expected to grow at the highest CAGR due to a high adoption rate of new technologies in this region. High economic growth, witnessed by the major countries such as China and India, is also expected to drive the growth of the neuromorphic computing market in APAC. BrainChip, Inc. (Australia), SynSense (China), MediaTek Inc. (Taiwan), SAMSUNG (South Korea), Sony Corporation (Japan), are some of the key players providing neuromorphic hardware and software in the region. In China, Japan, South Korea, and Singapore, for instance, significant investments have been made in neuromorphic research and infrastructure. This has fostered close relationships between academia, industry, and government, facilitating major breakthroughs in machine learning, natural language processing, and robotics that have propelled the development of neuromorphic technologies.

Key Players

Key companies operating in the neuromorphic computing companies are Intel Corporation (US), IBM (US), Qualcomm Technologies, Inc. (US), Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), BrainChip, Inc. (Australia), SynSense (China), MediaTek Inc. (Taiwan), NXP Semiconductors (Netherlands), Advanced Micro Devices, Inc. (US), Hewlett Packard Enterprise Development LP (US), OMNIVISION (US), among others.

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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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SPEYSIDE COMPLETES ACQUISITION OF GSC

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38 minutes ago

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January 9, 2025

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Transaction enables Speyside to fuel the company’s next growth phase.

ANN ARBOR, Mich., Jan. 9, 2025 /PRNewswire/ — Speyside Equity Advisers (“Speyside”) announced that it has completed the acquisition of GSC Technologies, Inc. (“GSC”). The transaction will allow Speyside’s continued investment in GSC and fuel the company’s next growth phase. GSC is a leading manufacturer of plastic goods in North America.

“We are very excited about the GSC acquisition,” said Eric Wiklendt, Managing Director at Speyside. “GSC is similar to a great deal we did in a prior fund, with similar opportunities. GSC has a great growth and value-creation plan that we look forward to facilitating.”

GSC CEO Dave Barrow noted, “My team and I look forward to working with the Speyside team to execute our strategic plan. Speyside has a strong operational background that clearly differentiates it from other investment groups. The new capitalization structure and value-creation system that Speyside brings will help us achieve our vision and drive results.”

Nick Lardo, Managing Director at Speyside, noted, “GSC is our second closed deal in Speyside Equity Fund II. We are gaining strong momentum in the fund based on increased staff, AUM, and deal activity. We see 2025 as a year full of great opportunity.”

About Speyside
Speyside is a Detroit-based private equity firm. The firm invests in middle-market, buyout transactions in the manufacturing and value-added distribution sectors. Targeted portfolio companies often possess balance sheet, legal, environmental, labor, or transactional complexity. Speyside Equity focuses on creative transaction structures and is comfortable investing in carveouts of large multinational companies, industry consolidations, family-owned businesses, bankruptcies, workouts, and other special situations. Speyside takes an operational approach to creating value in these situations. Speyside has completed 37 investments. For more information, please visit speysideequity.com.

About GSC Technologies, Inc.
Founded in 1982 with a single plastic molding machine, GSC Technologies Inc. is a leading and groundbreaking manufacturer of plastic goods in North America focused on environmentally aware plastic solutions for organizing daily life today and in the future. Based in St-Jean-sur-Richelieu (Quebec/Canada), GSC designs and manufactures attractive, practical storage and organization lifestyle products for better modern living. With manufacturing plants that use contemporary equipment and technology and distribution facilities in the US, Canada, and China, GSC uses global testing and quality standards to ensure the best value, highest quality products. For more information, please visit gsctechnology.com.

Honigman LLP acted as Speyside’s legal advisor.

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SOURCE Speyside Equity

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Batteries Plus’s Strategic Partnerships Drive Nearly 130% Sales Increase

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38 minutes ago

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January 9, 2025

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Transformative Collaborations Fuels Record-Breaking Sales Growth for Batteries Plus FranchiseePartnerships Elevate Customer Experience, Expand Service OfferingsNew Jersey Franchisee’s Store Emerges as Top Repair Destination in Network

SPRINGFIELD, N.J., Jan. 9, 2025 /PRNewswire/ — Batteries Plus, the world’s leading specialty battery franchise, has achieved remarkable success through strategic partnerships with industry leaders in device protection and insurance. These collaborations have led to significant growth for franchisees over the last two years, as exemplified by Angel Cartagena’s store in Springfield, NJ.

Enhanced Customer Experience
By combining Batteries Plus’s extensive retail network and repair expertise with advanced mobile device protection programs from industry partners, Batteries Plus stores are equipped to handle subscribers’ phone protection needs, covering lost or damaged devices. This comprehensive approach has paved the way for improved customer satisfaction, ultimately increasing revenue for franchisees and strengthening brand loyalty overall.

“We’re not just fixing phones; we’re creating opportunities for customers to discover additional products and services they didn’t know they needed, from car batteries to key fobs,” Cartagena said. “This has contributed to increased ticket counts and higher margins across our business.”

Growth and Expansion
After serving with the U.S. Air Force for 37 years, Cartagena began franchising with Batteries Plus in 2008. In the 18 years since, his store has grown to become the top-performing location for repairs in the entire Batteries Plus network, with repair volumes nearly 50% higher than other stores.

Since implementing these strategic partnerships, Cartagena’s Batteries Plus location has experienced unprecedented growth:

217.7% increase in device repair sales year-over-year128.6% increase in total business sales year-over-year147.8% increase in average ticket value year-over-year10.6% increase in gross profit year-over-year

The success of these partnerships has led to significant expansion for Cartagena’s store, necessitating the hiring of three additional team members to help manage the increased volume.

“These strategic partnerships have been transformative for our business,” said Cartagena. “We’ve seen a dramatic increase in customer traffic and sales, particularly in our device repair services. These collaborations have not only boosted our bottom line but also enhanced our ability to serve our community with top-notch repair solutions. It’s been great for business, allowing us to expand our team and offer more comprehensive services to our customers.”

Batteries Plus has become a global leader in supplying the battery needs of its customers for cars, boats, phones, key fobs and more. With over 800 store locations in operation and development nationwide, Batteries Plus has also carved out a unique niche in the industry with its ‘plus’ services – including cell phone repair and key fob replacement. Positioned for the battery-powered future, Batteries Plus was ranked on Franchise Times Top 400 list, coming in at #130. Plus, for the 30th year in a row, the brand ranked on Entrepreneur Magazine’s Franchise 500 list, climbing 53 spots over last year’s rank and even becoming one of only 49 franchise brands to be inducted into Entrepreneur’s Franchise 500 Hall of Fame.

To learn more about Batteries Plus, visit batteriesplusfranchise.com.

ABOUT BATTERIES PLUS: Batteries Plus, founded in 1988 and headquartered in Hartland, WI, is a leading omnichannel retailer of batteries, specialty light bulbs and phone repair services for the direct-to-consumer and commercial channels. The retailer also offers key programming, replacement and cutting services. Through a nationwide network of stores, the company offers a differentiated value proposition of unrivaled product selection, in-stock availability and customer service. Batteries Plus is owned by Freeman Spogli, a private equity firm based in Los Angeles and New York City. To learn more about one of Forbes®’ Best Franchises to Buy in America, visit https://www.batteriesplusfranchise.com.  

MEDIA CONTACT: Cole Koretos, Fishman Public Relations, ckoretos@fishmanpr.com or 847-331-1190

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SOURCE Batteries Plus

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MobileX Partners with Ethika to Launch ‘ethikaX,’ Merging Style with Mobile Connectivity

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38 minutes ago

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January 9, 2025

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 LAS VEGAS, Jan. 9, 2025 /PRNewswire/ — Today at CES, MobileX, the most customizable wireless service designed to save consumers money, and Ethika, a leading lifestyle brand driven by personal identity, announced an exciting new collaboration. Together, the two companies will be launching “ethikaX” – a collection that seamlessly merges mobile-friendly design with bold self-expression and dynamic style. This partnership represents a groundbreaking moment where mobile meets fashion, blending cutting-edge technology with style and originality.

The ethikaX line will debut in Q1 2025, featuring a range of apparel and accessories tailored for the modern, mobile lifestyle. The initial collection will include hoodies and t-shirts with phone-friendly pockets, phone cases, and even a limited-edition set of ethikaX-branded headphones.

“At MobileX, we’re passionate about empowering our customers to live untethered, connected lives,” said Peter Adderton, CEO of MobileX. “By partnering with Ethika, we’re able to bring that vision to life through thoughtfully designed apparel that embraces uniqueness and creativity while seamlessly integrating with our mobile services.”

Ethika’s commitment to celebrating individuality and self-expression across diverse cultures including motorsports, BMX, music, art and fashion aligns perfectly with MobileX’s mission to empower consumers through customizable, user-focused mobile service that ensures they only pay for what they use. The ethikaX collection will be available for purchase through the MobileX app and website, as well as select Ethika retail partners. Customers can also sign up for MobileX at these retail locations by purchasing a SIM Kit or scanning a QR code and activating with eSIM.

“We’re thrilled to be working with the innovative team at MobileX to redefine the intersection of mobile and fashion,” said Matt Cook, CEO of Ethika. “This collaboration allows us to extend the Ethika brand into new territories while continuing to celebrate those who stand out from the crowd and share our core values of quality, style and originality.”

Stay tuned for updates on ethikaX’s launch in Q1 2025 here.

 About MobileX
Headquartered in Orange County, California, MobileX is the world’s most customizable mobile carrier delivering the ultimate in choice and cost control. MobileX is a unique service that uses artificial intelligence to predict how much data customers need, dramatically reducing costs while ensuring reliable speed and service. MobileX was founded by Peter Adderton, who also founded both Boost Mobile and Digital Turbine. For more information, please visit mymobilex.com.

 About Ethika
Ethika is a leading lifestyle brand which started in San Clemente, CA and is now based in Lake Forest. Since the inception of the brand, Ethika and its team have been determined to live life, innovate, and deliver quality products, while staying true to the brand’s biggest asset – the FAMILIE. Ethika employees, friends, athletes, artists and customers are the core of the brand and the reason Ethika exists. More Ethika news, photos, and videos can be found on X (@ethika), Instagram (@ethika), and online at www.ethika.com.

Press contact:
Illume PR for MobileX
mobilex@illumepr.com

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SOURCE Mobile X Global, Inc.

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