The software by offering segment is expected to grow the fastest in the forecast period.
Between 2021 and 2028, the software market is predicted to increase at a faster rate. Continuous online learning, real-time data streaming, prediction, and data modeling are some of the applications of neuromorphic computing software. The Neuromorphic Chip Market is also growing due to increased software use in areas such as aerospace and military, IT & telecom, and medical.
Constraints: The complexity of creating hardware for neuromorphic circuits is increased by complicated algorithms.
In sectors such as mobile and embedded systems, neuromorphic chips are predicted to have significant growth potential. However, at this point, achieving performance comparable to graphics processing units (GPUs) in industrial machine learning will be crucial, as backend server/data center applications require considerable algorithm learning. As a result of the constraints of hardware production capabilities, enabling neuromorphic hardware to learn sophisticated algorithms for large-scale implementations would be difficult. This could be a stumbling block to the Neuromorphic Chip Market expansion.
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