Neural Network Processor Market - Forecast(2024 - 2030)

Report Code: ESR 0689 Report Format: PDF + Excel

Neural Network Processor Market

The global market for Neural Network Processor is poised to reach by $225.3 million by 2026, progressing at CAGR 17.5% from 2021 to 2026. Globally surge in demand for high-speed processors among various organizations to increase productivity and efficiency is set to be the major driver for the growth of the Neural Network Processor Market. Rise in demand for smart homes, emergence of quantum computing as well as development of smart cities are some of the impacting factors that accelerates the global Neural Network Processor Market. In addition to this adoption of advanced technology leads to generation of huge volume of data is also one of the key factors assisting the market growth during the forecast period 2021-2026. The rising demand for machine vision, computer processing and deep feed forward based devices is driving the adoption o artificial neural networks and recurrent neural networks.

Report Coverage

The report based on: “Neural Network Processor Market– Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments.
By Component: Hardware, Software, Services.
By Application: Smart home, smart devices, Robots and Drones, Natural Language Processing, Augmented Reality, Video analytics, Image processing, Others.
By End-User: Automotive, Security & Surveillance, Healthcare, Consumer Electronics, Retail, Others.
By Geography: North America (USA, Canada, Mexico), Europe(Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, South Korea, Australia and Others), South America (Brazil, Argentina and others) and ROW (Middle East and Africa).

Key Takeaways

  • The Key players in the Neural Network Processor Market are CEVA Inc, Qualcomm Inc, Intel Corporation, IBM Corporation and so on with contracts and partnerships being adopted as key strategies.
  • Consumer Electronics is the fastest growing segment during the forecast period 2021-2026 owing to the increase in demand of smart phones and other smart devices.
  • North America dominated the market with a share of 37% in terms of value in 2020 due to the adoption of latest technologies among organizations as well as high investment to develop new technologies.

Global Neural Network Processor Market Share, By Region, 2020 (%)

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Neural Network Processor Market Segment Analysis - by Applications

Smart devices are analyzed to hold a significant growth at CAGR of 22.1% during the forecast period 2021-2026. APAC region is anticipated to witness the highest growth during the forecast period. Factors such as rapid urbanization, high population, high living standard and strong economic growth are set to be the key influencer for the growth of the market. APAC region is the manufacturing hub of smart devices. As per 2020 estimate, APAC region had the largest number of internet users globally with China ranked first with 854.5 million users and India being second with 687.6 million.

Neural Network Processor Market Segment Analysis - by End- User

Consumer Electronics is the fastest growing segment in Neural Network Processor Market and is estimated to grow at around CAGR 21.5% during the forecast period 2020-2025, owing to the adoption of smart phones and smart devices. Samsung unveils new world for mobile phone by using neural processing units which are incorporated in mobile processor to deliver new advanced level of vision intelligence in mobile phones. On February 2020, Samsung launched Galaxy S20 Series with features like intelligent battery, neural processor and massive storage that would accelerate ML workload. Automotive sector also witnessed a significant growth in the market due to increase in demand for autonomous vehicle for tracking vehicles and detecting traffic lights. For instance Tesla, global provider for autonomous vehicle technology, announced the use of Tesla owned AI chip which covers neural network to be used in self driven cars.

Neural Network Processor Market Segment Analysis - by Geography

North America dominated the Neural Network Processor market with a share of 37% in 2020, owing to the significant adoption of advanced technologies across various organizations. The presence of large number of key players investing towards improved processor is also analyzed to be one of the major drivers for the growth of the market. In addition to this growing investment in AI start-up is also a driving factor for the growth of the regional market. USA and Canada are extremely well developed and highly skilled labor pool with renowned research and development institution influencing the development of new technology in this region. According to a survey conducted by Tech Nation USA made an investment of $92 billion in emerging technologies such as AI, Robotics etc that influences the market growth of neural network processor.

Neural Network Processor Market Drivers

Increasing demand for smart devices and smart cities

The emerging technologies like AI and IOT have the capacity to initiate smart city programs in developing countries. AI and IOT enabled devices generate huge amount of data. Due to quick growth in the volume of data, there is surge in demand for high speed processors among all industries which is certainly influencing the development of the market. For instance in January 2021, DSP Group Inc, a leading provider of wireless and voice processing chipset solution announced the launch of low cost effective AI and ML SOC i.e. DBM10. The SOC contains Digital Signal Processor and nNetlite Neural Network Processor.

Increase in investment in emerging technologies

Investment in AI and Neural Network are a great commercial opportunity for every business. Neural Network Processor used for object and sound detection, sound recognition, object tracking, facial recognition, keyword spotting and packet inspection. These features are embedded in smart devices. Government also spend huge amount in development of AI and real time analytics that set to drive the processor market. As per recent estimate USA has the most AI start-up with venture capital funding. USA companies increased global AI investment by 56% since 2015.

Neural Network Processor Market Challenges

Lack of skilled workforce

Companies across all industries do not have much AI talent. Even during economic crunch due to COVID19 pandemic, the demand for AI talent has been strong. Leaders want to reduce cost through efficiency and automation and thus AI, Deep Learning Neural Network plays a pivotal role in that effort. As per report released by the Indian Government in 2020, India is facing shortage of skilled workforce in AI, ML, blockchain, Internet of Things, cyber security and data analytics. The gap will increase in coming years as per the report.

Neural Network Processor Market Landscape

Partnerships, acquisitions, collaboration along with product launches are the key strategies adopted by the players in the Neural Network Processor Market. The top 10 companies include CEVA Inc, Qualcomm Inc, Intel Corporation, IBM Corporation, Google Inc, NVIDIA Corporation, Brainchip Holdings Limited, Advanced Microdevices Inc, Graphcore Ltd and NXP Semiconductor.

Acquisitions/Technology Launches/Partnerships

  • On September 2019, Ceva Inc announced NeuPro-S processor which is designed for deep neural network workloads with features like high performance, improved power and memory bandwidth efficiency.
  • On August 2019, Intel Corporation announced the launch of AI-powered Nevana Neural Network Processor. The Processor is divided into Intel Nervana NNP-I (code-named Spring Hill) and Intel Nevana NNP-T (code-named Spring Crest).

Relevant Reports:

Report Code - ESR 18684
Report Code - ITR 500899

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1. Neural Network Processor Market Overview
    1.1 Definitions and Scope
2. Neural Network Processor Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key trends By End Use Industry
    2.3 Key trends segmented by Geography
3. Neural Network Processor Market – Market Landscape
    3.1 Comparative Analysis
        3.1.1 Product/Company Benchmarking-Top 5 Companies
        3.1.2 Top 5 Financial Analysis
        3.1.3 Market Value Split by Top 5 Companies
        3.1.4 Patent Analysis
        3.1.5 Pricing Analysis (Comparison of General Price of Industry Solutions)
4. Neural Network Processor Market – Industry Market Entry Scenario Premium (Premium)
    4.1 Regulatory Scenario
    4.2 Ease of Doing Business Index
    4.3 Case Studies
    4.4 Customer Analysis
5. Neural Network Processor Market – Startup Company Scenario (Premium)
    5.1 Venture Capital and Funding Scenario
    5.2 Startup Company Analysis
6. Neural Network Processor Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Neural Network Processor Market – By Strategic Analysis (Market Size -$Million/Billion)
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Product Life Cycle/Market Life Cycle Analysis
8. Neural Network Processor Market – By Application (Market Size -$Million/Billion)
    8.1 Smart Home
    8.2 Smart Devices
    8.3 Robots and Drones
    8.4 Augmented Reality
    8.5 Natural Language Processing
    8.6 Video Analytics
    8.7 Image Processing
    8.8 Others
9. Neural Network Processor Market – By Component (Market Size -$Million/Billion)
    9.1 Hardware
    9.2 Software
    9.3 Services
10. Neural Network Processor Market – By End Use Industry (Market Size -$Million/Billion)
    10.1 Automotive
    10.2 Security and Surveillance
    10.3 Healthcare
    10.4 Consumer Electronics
    10.5 Retail
    10.6 Others
11. Neural Network Processor Market - By Geography (Market Size -$Million/Billion)
    11.1 North America
        11.1.1 U.S
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 Germany
        11.2.2 France
        11.2.3 UK
        11.2.4 Italy
        11.2.5 Spain
        11.2.6 Russia
        11.2.7 Netherlands
        11.2.8 Others
    11.3 APAC
        11.3.1 China
        11.3.2 Japan
        11.3.3 South Korea
        11.3.4 India
        11.3.5 Australia
        11.3.6 Indonesia
        11.3.7 Malaysia
        11.3.8 Others
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Chile
        11.4.4 Colombia
        11.4.5 Others
    11.5 RoW
        11.5.1 Middle East
        11.5.2 Africa
12. Neural Network Processor Market - Market Entropy
    12.1 New product launches
    12.2 M&A's, collaborations, JVs and partnerships
13. Neural Network Processor Market – Industry Competitive Landscape (Premium)
    13.1 Market Share – Global
    13.2 Market Share by Region
    13.3 Market Share By End Use Industry
14. Neural Network Processor Market – Key Company List by Country Premium (Premium)
15. Neural Network Processor Market - Company Analysis
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10