Technology

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

Published

2 years ago

October 25, 2024

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
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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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Technology

Lovey announces £250m senior secured credit facility with Pollen Street Capital

Published

30 minutes ago

October 27, 2026

UK’s fastest-growing fintech announces its largest funding facility to date to support more UK SMEs

BIRMINGHAM, England, Oct. 27, 2026 /PRNewswire/ — Lovey, the UK’s fastest-growing fintech and financial services provider, specialising in SME lending and brokerage, has today announced a senior secured credit facility of up to £250 million with Pollen Street Capital (“Pollen Street”), an alternative asset manager. The facility is made up of £50 million committed capital and a £200 million accordion, making it the largest funding facility in Lovey’s history and marking a key milestone in the company’s growth.

The facility demonstrates continued institutional investor confidence in Lovey’s lending model, technology and long-term strategy and reinforces Lovey’s position as a leading finance provider focusing on SME funding. The facility will significantly increase Lovey’s lending capacity, supporting the business as it scales its own-book lending while continuing to grow its established brokerage proposition.

Founded by Jack Smith in 2016, Lovey has grown from a one-person start-up into a 120-strong business, funding more than £600 million in loans to over 11,000 UK SMEs. Built around a mission to make lending simple, fast and beautiful, Lovey has expanded rapidly while staying focused on making finance easier and more accessible for small businesses. The new facility will support that mission by giving Lovey the capital to help more UK SMEs access funding quickly and flexibly.

Lovey began lending directly from its own balance sheet in 2022, building on its experience as a broker to develop a deeper understanding of the funding needs of UK SMEs. Today, the business combines direct lending with its established brokerage proposition, giving customers access to both Lovey’s own lending and a wider panel of funding partners. This approach allows Lovey to match businesses with the funding solution that best suits their needs, while the new facility provides greater capacity to grow its direct lending operation.

Jack Smith, Founder and CEO at Lovey, comments:
“This new facility is an important milestone for us and will enable us to put more capital behind UK small businesses, scale our own-book lending and give more SMEs access to finance when they need it. Pollen Street shares our belief that finances for small businesses should be simpler, faster and more flexible, and we’re really pleased to have them backing Lovey for this next stage of growth.”

Kai Hunter, Chief Operating Officer at Lovey, comments:
“The funding announced today is the result of close and collaborative work with Pollen Street and I am grateful to their team, and to our own, for the diligence they brought to it. This funding deepens our lending capacity and allows us to offer larger loans, so that we can back more of the UK’s small and medium-sized businesses, from those that have found finance hardest to secure to the well-established, with greater speed and certainty.”

Ethan Saggu, Investment Director, Pollen Street, adds:
“Lovey has spent almost a decade seeing the UK SME lending market from a broker’s perspective, giving the team an expert view of where demand for credit is going unmet. We have financed a number of specialist SME lenders and recognise what it takes to grow from brokerage into balance-sheet lending. Lovey has done so with a well-defined product and a focused approach, and we look forward to supporting the team as it scales.”

Lovey was advised by Ashurst Perkins Coie and Pollen Street was advised by Simmons & Simmons.

The facility builds on Lovey’s existing funding arrangements announced last year, including a £35 million revolving credit facility from Paragon Bank and a £10 million junior medium-term note programme from LGB Capital Markets. The new facility also adds to Lovey’s growing institutional funding base as it enters its next phase of expansion.

To learn more about Lovey or to apply for a fast, flexible business loan, visit Lovey’s website.

For any further information, please contact: press@lovey.com

About Lovey (the trading name of Love Finance Limited):
Lovey is the UK’s fastest-growing fintech and financial services provider, specialising in SME lending and brokerage. Founded in Birmingham in 2016 by Jack Smith, Lovey has a mission to make lending simple, fast and beautiful. The company has funded more than £600 million in loans for over 11,000 SMEs across the UK.

Recognised by EY, Deloitte, The Sunday Times, Financial Times, UK Growth Index, FEBE, and Sifted as one of the UK’s fastest-growing companies. Lovey combines direct lending and brokerage services to deliver fast, flexible, and tailored funding solutions. With an industry-leading 4.9-star Trustpilot rating, businesses can enquire in 60 seconds and receive funding in as little as 4 hours.

Website: www.lovey.com

Pollen Street Press Office:
FGS Global
Chris Sibbald / Anna Tabor
PollenStreetCapital-LON@fgsglobal.com

About Pollen Street:
Pollen Street is a fast-growing and high performing private capital asset manager. Established in 2013, the firm has built deep capability across the financial and business services sectors aligned with mega-trends shaping the future of the industry. Pollen Street manages over €9bn AUM across private equity and credit strategies on behalf of investors including leading public and corporate pension funds, insurance companies, sovereign wealth funds, endowments and foundations, asset managers, banks, and family offices from around the world. Pollen Street has a team of over 100 professionals.

www.pollenstreetgroup.com

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Technology

Baidu to Report Third Quarter 2026 Financial Results on November 16, 2026

Published

30 minutes ago

October 27, 2026

BEIJING, Oct. 27, 2026 /PRNewswire/ — Baidu, Inc. (Nasdaq: BIDU; HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)) (“Baidu” or the “Company”), a leading AI company with strong Internet foundation, today announced that it will report its financial results for the Third Quarter 2026 ended September 30, 2026, before the U.S. market opens on November 16, 2026. Baidu’s management will hold an earnings conference call at 7:30 AM on November 16, 2026, U.S. Eastern Time (8:30 PM on November 16, 2026, Beijing Time).

Please register in advance of the conference call using the link provided below. It will automatically direct you to the registration page of “Baidu Inc. Q3 2026 Earnings Conference Call”. Please follow the steps to enter your registration details, then click “Register”. Upon registering, you will then be provided with the dial-in number, the passcode, and your unique access PIN. This information will also be emailed to you as a calendar invite.

For pre-registration, please click:
https://s1.c-conf.com/diamondpass/10057872-oyt4z8.html

In the 10 minutes prior to the call start time, you may use the conference access information (including dial-in number(s), the passcode and unique access PIN) provided in the calendar invite that you have received following your pre-registration.

Additionally, a live and archived webcast of this conference call will be available at https://ir.baidu.com.

A replay of the conference call may be accessed by phone at the following number until November 24, 2026:
US: 1 855 883 1031
Replay PIN: 10057872

About Baidu

Founded in 2000, Baidu’s mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong Internet foundation, trading on Nasdaq under “BIDU” and the HKEX under “9888.” One Baidu ADS represents eight Class A ordinary shares.

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SOURCE Baidu, Inc.

Technology

IBS Software’s iCargo to power Philippine Airlines Cargo Modernisation

Published

30 minutes ago

October 27, 2026

Airline to move from its current cargo system to a modern, cloud-based platform covering cargo sales, ground handling operations and revenue accounting

MANILA, Philippines, Oct. 27, 2026 /PRNewswire/ — IBS Software’s iCargo, a cloud-based platform bringing cargo sales, ground handling operations and accounting together, has been selected by Philippine Airlines (PAL) to replace its current cargo system. The implementation will extend iCargo’s capabilities across PAL’s domestic and international cargo operations.

As the leading AI-native product company in the travel technology sector, IBS Software will support PAL’s broader cargo transformation and modernisation programme with capabilities that support PAL’s full range of business functions, from commercial and operations to back-office accounting, while enabling further innovation and digitisation through a single, fully integrated cloud-based platform. iCargo will support cargo movements across PAL’s domestic and international operations, including international requirements such as customs reporting, duties and taxes settlement and regulatory compliance. iCargo already supports carriers with this same mix of demands, providing the flexibility, scale and capabilities to manage both.

The transition will enable PAL to address key operational requirements across its cargo operations, including system performance and data analytics. iCargo will provide modern capabilities to support faster shipment processing, greater reliability and end-to-end shipment visibility, while reducing manual intervention and enabling more efficient processes.

Beyond operational efficiency, these capabilities will help PAL Cargo bring its ‘Care that Delivers’ promise to life, giving customers greater confidence through improved shipment visibility, reliable service and a more seamless cargo experience. As cargo volumes continue to grow across its network, the new platform will also provide the technological foundation for continued innovation, operational excellence and long-term growth.

IBS Software’s proposal combined a strong technology fit with a proven track record of delivering successful cargo transformations for airlines worldwide. The selection of iCargo builds on an established relationship between Philippine Airlines and IBS Software, broadening the portfolio of IBS Software products used by PAL and reinforcing their shared commitment to long-term innovation and business growth.

“This initiative represents an important step in the modernisation of our cargo business,” said Jason Siy, Vice President for Cargo Business, Philippine Airlines. “As we grow across our domestic and international network, we need a system that increases visibility, improves operational efficiency and enables us to deliver a better experience for our customers. We see iCargo as a key enabler of our long-term cargo transformation strategy and of our ambition to build an even stronger cargo business for the future.”

“Philippine Airlines has a clear vision for the future of its cargo business, and we are proud to support that journey,” added Sunil George, Vice President & Region Head of Oceania, IBS Software. “This partnership is about more than implementing a new cargo platform. It is about working closely with PAL to build the digital foundation for future growth, innovation and operational excellence, and continuing a relationship we value deeply.”

For more information about IBS Software’s iCargo solution, visit: https://www.ibsplc.com/product/air-cargo-solutions/icargo.

About IBS Software

IBS Software is a leading travel technology company delivering AI-native travel intelligence that enables smarter, faster and more resilient decision-making, with built-in guardrails across aviation, cargo and logistics, and leisure and hospitality. It powers core capabilities for leading travel brands worldwide, spanning airline retailing, passenger services, loyalty, fleet, hub and crew operations, cargo management, and cloud-native platforms for hotels and cruise line operators, and operates from 17 offices globally.

Further information can be found at www.ibsplc.com. Follow us:
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About Philippine Airlines

Philippine Airlines (PAL) is the Philippines’ flag carrier and the country’s only full-service network airline. Founded in 1941, PAL is Asia’s first commercial airline and has played a vital role in connecting the Philippines to the world for 85 years.

PAL operates scheduled nonstop flights from its hubs in Manila and Cebu to 29 destinations across the Philippines and 40 destinations in Asia, North America, Australia, and the Middle East.

PAL is an APEX Four Star™ airline and was recognised by Cirium for achieving the highest on-time performance among Asia-Pacific carriers in 2025. In 2026, Philippine Airlines was officially invited to join the oneworld® Alliance.

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SOURCE IBS Software