LATIN AMERICA NEUROMORPHIC CHIP MARKET Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Latin America Neuromorphic Chip Market is segmented by End-User Industry (Financial Services & Cybersecurity, Automotive, Industrial, Consumer Electronics).

Latin America Neuromorphic Chip Market Size

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LA Neuromorphic Chip Market
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 27.89 %
Market Concentration Medium

Major Players

LA Neuromorphic Chip Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Latin America Neuromorphic Chip Market Analysis

Latin America's neuromorphic chip market was valued at USD 0.19 billion in 2020 and is projected to reach USD 0.83 billion by 2026, at a CAGR of 27.89%. The demand for neuromorphic chips increases with the mounting demand for IoT and data analytics. The motivation behind designing these chips is to build a platform for running large-scale, real-time simulations to aid neuroscience research. As a result, innovation in processor architecture is being seen with more interest by governments, research institutes, and business entities, thereby evolving into significant developments.

  • Neuromorphic is a specific brain-inspired ASIC that implements the Spiked Neural Networks (SNNs). It has an object to reach the massively parallel brain processing ability in tens of watts on average. The memory and the processing units are in single abstraction (in-memory computing). This leads to the advantage of dynamic, self-programmable behavior in complex environments.
  • Companies, such as BrainChip Holdings Ltd, are forming multiple partnership activities to utilize neuromorphic chips in curbing the spread of COVID-19. In May 2021, BrainChip Holdings Ltd partnered with precision immunology company Biotome Pty Ltd to develop a fast, accurate COVID-19 antibody test. The companies will explore how the Akida neural processor could improve the accuracy and information quality of the antibody tests while Biotome is developing by providing advanced AI capacity at the point of care.
  • Neuromorphic chips can be designed digitally, analog, or in a mixed way. Analog chips resemble the characteristics of the biological properties of neural networks better than digital ones. In the analog architecture, few transistors are used for emulating the differential equations of neurons. Therefore, theoretically, they consume lesser energy than digital neuromorphic chips. Besides, they can extend the processing beyond its allocated time slot. Thanks to this feature, the speed can be accelerated to process faster than in real-time. However, the analog architecture leads to higher noise, which lowers the precision.
  • Digital ones, on the other hand, are more precise compared to analog chips. Their digital structure enhances on-chip programming. This flexibility allows artificial intelligent researchers to accurately implement various kinds of an algorithm with low-energy consumption compared to GPUs. Mixed chips try to combine the advantages of analog chips, i.e., lesser energy consumption, and the benefits of digital ones, i.e., precision.
  • Neuromorphic architectures address challenges, such as high-power consumption, low speed, and other efficiency-related bottlenecks prevalent in the von Neumann architecture. Unlike the traditional von Neumann architecture with sudden highs and lows in binary encoding, neuromorphic chips provide a continuous analog transition in the form of spiking signals. Neuromorphic architectures integrate storage and processing, getting rid of the bus bottleneck connecting the CPU and memory.

Latin America Neuromorphic Chip Market Trends

This section covers the major market trends shaping the Latin America Neuromorphic Chip Market according to our research experts:

Automotive is the Fastest Growing Industry to Adapt Neuromorphic Chip

  • The automotive industry is one of the fastest-growing industries for neuromorphic chips. All the premium car manufacturers are investing heavily to achieve Level 5 of Vehicle Autonomy, which in turn, is anticipated to generate huge demand for AI-powered neuromorphic chips.
  • The autonomous driving market requires constant improvement in AI algorithms for high throughput with low power requirements. Neuromorphic chips are ideal for classification tasks and could be utilized for several scenarios in autonomous driving. Compared with static deep learning solutions, they are also more efficient in a noisy environment, such as self-driving vehicles.
  • According to Intel, four terabytes is the estimated amount of data that an autonomous car may generate through almost an hour and a half of driving or the amount of time a general person spends in their car each day. Autonomous vehicles face a significant challenge in efficiently managing all the data generated during these trips.
  • The computers running the latest self-driving cars are effectively small supercomputers. The companies, such as Nvidia, aim to achieve Level 5 autonomous driving in 2022, delivering 200TOPS (trillions of operations per second) using 750W of power. However, spending 750W an hour on processing is poised to have a noticeable impact on the driving range of electric vehicles.
  • ADAS (Advanced Driver Assistance System) applications include image learning and recognition functions among various automotive applications of neuromorphic chips. It works like conventional ADAS functions, such as cruise control or intelligent speed, assist system in passenger cars. It can control vehicle speed by recognizing the traffic information marked on roads, such as crosswalks, school zone, road-bump, etc.
LATIN AMERICA NEUROMORPHIC CHIP MARKET

Increasing Demand for Artificial Intelligence-based Microchips drive the market growth

  • The Latin American neuromorphic chip market is experiencing high growth due to increasing demand for artificial intelligence and consumer preference towards small-sized products leading to the requirement of miniaturization of ICs. With the advent of smart technologies, smart sensors are being used in many end-user industries like automotive, electronics, and medical.
  • Currently available semiconductors for AI applications are CPUs and AI accelerators. The AI accelerators are leading the market because of the computing limitations of CPUs. Available AI accelerators are GPUs, Application-Specific Integrated Circuits (ASICs), and Field-Programmable Gate Arrays (FPGAs). GPUs have many parallel processing cores, which give them a significant advantage for processing AI training and inference. However, they do have a high-power consumption cost which is not sustainable for future applications.
  • On the other hand, emerging FPGAs can have ten times more power efficiency than GPUs but have lower performance. In applications where energy efficiency is the top priority, FPGAs can be the alternative solution. Among AI Accelerators, ASICs show the best performance, lesser power consumption, and efficiency. However, designing unique functioning ASIC is highly costly and is not reconfigurable. Therefore, ASICs should be used when the market of specific AI applications is adequate for the design investment.
  • Compared to AI Accelerators, neuromorphic chips are poised to be the prominent option concerning parallelism, energy efficiency, and performance. They can handle both AI inference and training in real-time. Moreover, edge training is possible through neuromorphic chips. However, learning methodologies should be improved their accuracy.
LATIN AMERICA NEUROMORPHIC CHIP MARKET

Latin America Neuromorphic Chip Industry Overview

As the market for neuromorphic chips is very niche and in the initial phase of development, the market has a presence of a few players, such as BrainChip Holdings Ltd, Intel Corporation, SynSense AG, etc. Top players are growing intensely in this consolidated market scenario through various market development strategies, such as collaboration, market expansion, product innovation, and R&D activities. Hence the market concentration is medium.

  • March 2020 - SolidRun and Gyrfalcon developed First Edge Optimized AI Inference Server Janux GS31 that supports leading neural network frameworks. It can be configured with up to 128 Gyrfalcon Lightspeeur SPR2803 AI acceleration chips for improved inference performance for most complex video AI models.

Latin America Neuromorphic Chip Market Leaders

  1. Intel Corporation

  2. SK Hynix Inc.

  3. International Business Machines Corporation

  4. Samsung Electronics Co. Ltd

  5. GrAI Matter Labs

*Disclaimer: Major Players sorted in no particular order

LATIN AMERICA NEUROMORPHIC CHIP MARKET
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Latin America Neuromorphic Chip Market News

  • January 2021 - GrAI Matter Labs introduced GrAI VIP, Vision Inference Processor, a full-stack AI system-on-chip platform that will drive a significant step in fast responsiveness for visual inference capabilities in robotics, industrial automation, AR/VR, and surveillance products and markets. GrAI Matter Labs' proven NeuronFlow event-based dataflow compute technology in GrAI VIP enables industry-leading inference latency up to 100x better than competing solutions.

Latin America Neuromorphic Chip Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.2.1 Bargaining Power of Suppliers
    • 4.2.2 Bargaining Power of Consumers
    • 4.2.3 Threat of New Entrants
    • 4.2.4 Threat of Substitutes
    • 4.2.5 Intensity of Competitive Rivalry
  • 4.3 Industry Value Chain Analysis
  • 4.4 Emerging Use Cases for Neuromorphic Chips
  • 4.5 Analysis of the Impact of COVID-19 on the Market

5. MARKET INSIGHTS

  • 5.1 Market Drivers
    • 5.1.1 Increasing Demand for Artificial Intelligence-based Microchips
    • 5.1.2 Emerging Trend of Combining the Concept of Neuroplasticity with Electronics
  • 5.2 Market Challenges
    • 5.2.1 Need for High Level of Precision and Complexity in Hardware Design

6. LATIN AMERICA NEUROMORPHIC CHIP MARKET

  • 6.1 End User Industry
    • 6.1.1 Financial Services and Cybersecurity
    • 6.1.2 Automotive
    • 6.1.3 Industrial
    • 6.1.4 Consumer Electronics
    • 6.1.5 Other End User Industries

7. COMPETITIVE LANDSCAPE

  • 7.1 Company Profiles
    • 7.1.1 Intel Corporation
    • 7.1.2 SK Hynix Inc.
    • 7.1.3 IBM Corporation
    • 7.1.4 Samsung Electronics Co. Ltd
    • 7.1.5 GrAI Matter Labs
    • 7.1.6 Nepes Corporation
    • 7.1.7 General Vision Inc.
    • 7.1.8 Gyrfalcon Technology Inc.
    • 7.1.9 BrainChip Holdings Ltd
    • 7.1.10 Vicarious FPC Inc.
    • 7.1.11 SynSense AG
  • *List Not Exhaustive

8. INVESTMENT ANALYSIS

9. FUTURE OF THE MARKET

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Latin America Neuromorphic Chip Industry Segmentation

The Latin America Neuromorphic Chip Market is segmented by End-User Industry (Financial Services and Cybersecurity, Automotive, Industrial, Consumer Electronics).

Neuromorphic chips are digitally processed analog chips with a series of networks similar to human brain networks. These chips contain millions of neurons and synapses to augment self intelligence, irrespective of pre-installed codes in normal chips. As a special kind of chips, these are highly capable of manipulating data received through sensors.

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Latin America Neuromorphic Chip Market Research FAQs

The LA Neuromorphic Chip Market is projected to register a CAGR of 27.89% during the forecast period (2024-2029)

Intel Corporation, SK Hynix Inc., International Business Machines Corporation, Samsung Electronics Co. Ltd and GrAI Matter Labs are the major companies operating in the LA Neuromorphic Chip Market.

The report covers the LA Neuromorphic Chip Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the LA Neuromorphic Chip Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

LA Neuromorphic Chip Industry Report

Statistics for the 2024 LA Neuromorphic Chip market share, size and revenue growth rate, created by Mordor Intelligenceā„¢ Industry Reports. LA Neuromorphic Chip analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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LATIN AMERICA NEUROMORPHIC CHIP MARKET Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)