Neural Network Processor Market
- 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
Neural Network Processor Market Segment Analysis - by End- User
Neural Network Processor Market Segment Analysis - by Geography
Neural Network Processor Market Drivers
Increasing demand for smart devices and smart cities
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
- 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).