Market Research Future (MRFR), in its latest report on the global neural network software market 2020, reveals that that market can rise at about 19% CAGR across the forecast period 2017-2023. MRFR analysis shows that the global neural network software market value can touch USD 18 Bn by 2023. Novel coronavirus pandemic is observed to cast impact on the market, which is elaborated in the report prepared by MRFR. Top notch companies are invested in Neural Network AI Software development to meet the growing demand of consumers. The rise in need for deep learning of neural network platform are resulting in innovations, such as smart toys and cameras, and self-driving vehicles, that have high value among its large base of end-users.
The high rise in artificial intelligence solution and services can drive the expansion of the neural network software market. The rise of the neural network software market can be attributed to increase in the adoption of learning process that allows the human brain to extract patterns and aid smart move. Modern technologies, such as smart devices can aid in the application of neural network software that provide easy learning, adaption and interaction in real time.
The segment study of the global neural network software market is done by end user, component, and type.
The type based segments of the neural network software market are analytical software, data mining and archiving, visualization software, optimization software, and others. The high utility of analytical software can gain considerable traction for neural network software market.
The component based segments of neural network software market are deep neural networks, services, artificial neural networks, and platform among other. The artificial neural networks segment can generate substantial revenue in the evaluation period
The end users based segments of the neural network software market are telecom and IT, BFSI, healthcare, transportation, and others. The telecom and IT sector dynamics can support the expansion of the market.
Regional study about the neural network software market by MRFR reveals that the North America region is likely to head across the world in terms of revenue generated. The growing utility of neural network software due to pressing demand in predictive analysis, data analysis, and machine learning can cause North America neural network software to boom in the years to come. The growing e-commerce and education sector can promote the expansion of the regional neural network software market through the assessment period. In Europe, the rise of the neural network software market can be attributed to the emerging starts ups dealing in the technology. The expansion of EU neural network software market is expected at a high pace. Major mergers and strategic partnerships are observed among EU key players of the market, which, in turn, can boost the regional market rise. In APAC, the expansion of the neural network software market can be credited to the adoption of modern technology. Expansion of the IT sector and booming education industry in APAC can support the expansion of the neural network software market in India and other economies of the region in the years to come.
Neuralware (U.S.), Starmind International AG (Switzerland), Qualcomm Technologies Inc. (U.S.). Oracle Corporation (U.S.), Intel Corporation (U.S.), Neural Technologies Ltd. (U.K), Google Inc. (U.S.), SAP SE (Germany), Afiniti (U.S.), GMDH LLC (U.S.), Microsoft Corporation (U.S.), IBM Corporation (U.S.), Slagkryssaren AB (Sweden), Alyuda Research LLC (U.S.), and Ward Systems Group Inc. (U.S.), among others are reputed companies in the global neural network software market as listed by MRFR.
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