ID: MRFR/ICT/3468-HCR | February 2021 | Region: Global | 100 pages
Are you wondering what the neural network software market is all about? The neural network software is that technology that can recognize handwriting or facial expressions, and make decisions. This technology is supposed to work just like a human brain does. It is an initiative made in the field of Technology where a complete human brain and its responses are made virtually through programming and software. It may look impossible but due to the emergence of artificial intelligence and opting for smart devices, the idea is coming true.
The global neural network software market is expected to grow at USD ~18 billion by 2023, at a CAGR of ~19% during the forecast period 2017-2023.
COVID 19 Analysis
As per the current situation of coronavirus. It's that time of life where every business whether small, medium, or big is facing drastic changes. These changes are usually negative and have a significant loss in revenue. Hence coronavirus is expected to vanish by the year 2022 due to the initiation in the process of vaccinations all over the world.
The neural network software in the global market is growing tremendously. Many factors drive the growth of the neural networks software market. These factors include investments in the neural network software market, a step to be planning for this platform. Also, investors want to make a move towards smart products designing toys, cameras, and self-driving cars. Other factors include the emergence of artificial intelligence and how the latest technologies are being opted all over the world. All these directly influence the growth of the neural networks software market.
The global neural network software market is going tremendously. Many factors provide opportunities for further growth of its market. These opportunities include increasing the use of artificial intelligence along with this the learning process of the brain has improved to extract the patterns and synchronizations with smart moves. There is a large scope in the latest technology such as smart devices. These are the opportunities that enhance growth.
The neural network market in the global market is growing tremendously. There are many hindrances in the path of growth. These hindrances usually include lagging technology usage, lesson synchronization, and extraction of patterns of smart moves. Also, not everybody is using smart devices which can compel them to learn, adapt and interact in real-time.
Value Chain Analysis
The neural network software industry is growing rapidly. There are various benefits of the neural network market such as the knowledge of the latest technology. The Neuro network market also introduces us to artificial intelligence technology. It helps us in learning the process of patterns and synchronizations with smart moves. It helps us in other ways where our brain adapts to learning and interacting in real-time with smart devices.
Global Neural Network Software Market, 2017-2023 (USD Billion)
The neural network software market in the global market has been divided based on the component type and user and region into the following.
Based On The Type
The neural network market in the global market has been segmented based on type into data mining and archiving, analytical software, optimization software, visualization software, and others.
Based On The Component
The neural network market in the global market has been segmented based on components into artificial neural networks, deep neural networks, services, platforms, and others.
Based On The End-Users
The neural network market in the global market has been segmented based on the end-users into BFSI, healthcare, telecom, and IT, transportation, and others.
Based On The Region
The neural network market in the global market has been segmented based on the region into North America, Asia Pacific, Europe, and the rest of the world.
The neural network software in the global market has been divided based on region into Asia Pacific North America Europe and the rest of the world. North America is one of the leading regions all across the globe. The reason why North America holds the largest neural network software market share is the huge demand. This is due to the increasing demands of data analysis, machine learning, predictive analysis, and many other reasons. These factors are propelling neural network software market opportunities to grow even further. According to the neural networks software market analysis, the European region is expected to witness this rapid growth in the upcoming years. On the other hand, the Asia Pacific with countries such as China, Japan, and India are yet an emerging market. It is expected to have the highest CAGR in the forecasted period. The Asia-Pacific referred to the countries of China, Japan, and India. North America included the US, Mexico, and Canada, And Europe included the UK and Germany.
The most prominent major key players in the neural network software market in the global market are as follows:
These most prominent major key players in the neural network software market in the global market use various strategies to cater to the increasing need of the customer. They use various policies and strategies like developing the new production process, innovation in the existing product, collaborations, mergers, and acquisitions, establishing a joint venture, expansion of business, and partnership. These tactics help increase the customer base in the global potential market.
The global neural network software market research report consists of the following elements:
This global neural network software market research report consists of the factors that drive the neural network software market along with the factors that restrict the neural network software industry in the global market. This report also contains various growth opportunities in the neural network software industry during the forecasted period. The impact of COVID 19 on the neural network software market is also estimated. The future growth rate of the neural network software industry is mentioned.
The major intended audience according to the research report of the neural network software market are as follows-
Frequently Asked Questions (FAQ) :
Google Inc. (U.S.), IBM Corporation (U.S.), Microsoft Corporation (U.S.), Qualcomm Technologies Inc. (U.S.). SAP SE (Germany), Intel Corporation (U.S.), Neurala, Inc. (U.S.), Oracle Corporation (California, U.S.), are the leading providers of neural network software in the market.
The component—wise segments are deep neural networks, artificial neural networks, platform, services, and other.
Mounting demand for machine learning, data analysis, predictive analysis and others, and the emergence of artificial intelligence are the top factors backing the market growth in North America.
India, Japan and China are the primary markets for neural network software in APAC.
Healthcare, BFSI, transportation, telecom and IT, and others are the leading end-users covered in the study.