Neuromorphic technology is primarily based on the working principal of neurons and neural circuits located in the human brain. A neuromorphic chip is VLSI (Very Large Scale Integration) systems that consist of electronic analog circuits in order to mimic the function of various neuro-biological architectures located in the nervous system of a human body. The connections, emulated neuron and wires present in a neuromorphic chip perform the functions of synapses, neuron cell body and axon of a neurons respectively.

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Increasing demand for data processing neuromorphic chip in order to analyze big data arising for various end user segment in order to evaluate and understand futuremarket trend, to fight against disease or to combat with crime is the key factor anticipated to boost the demand of Data Processing Neuromorphic Chip market in the coming years.

On the other hand, amidst the prevailing uncertainty in the ever-changing consumer behavior, increasing adoption of technologically advanced data analytic solution among various corporates for deriving actionable insights from the enormous volume of internal data related to sale is another important factor anticipated to trigger the use of neuromorphic chip for data processing during the forecast period.Neuromorphic chips are used extensively in order to increase the performance, sensitivity and scalability of a machines by consuming less power.