Global Neural Network Software Market, By Component (Neural Network Software, Services, Platform and Other Enabling Services), Type (Data Mining and Archiving, Analytical Software, Optimization Software and Visualization Software), Application (Fraud Detection, Hardware Diagnostics, Financial Forecasting, Image Optimization and Other Applications), Vertical (Banking Financial Services and Insurance, Government and Defense, Energy and Utilities, Healthcare, Industrial Manufacturing, Media, Telecom and IT, Transportation and Logistics, Retail and e-commerce and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights of Neural Network Software Market
Data Bridge Market Research analyses that the neural network software market will exhibit a CAGR of 30.30% for the forecast period of 2021-2028. Rising adoption of neural network software by the various end user verticals such as banking financial services and insurance, government and defense, energy and utilities, healthcare, industrial manufacturing, media, telecom and IT, transportation and logistics, retail and e-commerce and others and rising availability of spatial data and analytical tools are the major factors attributable to the growth of neural network software market. The neural network software market value will therefore stand tall by USD 109.98 billion by 2028.
A neural network is a series of algorithms that imitates the brain's learning process to extract patterns. In other and simpler words, neural network software is used to work just as the human brain does.
Rising demand for predicting solutions by small and medium scale enterprises is creating lucrative growth opportunities for the neural network software market. Increasing deployment of LTE wireless broadband coupled with the increased adoption of internet of things technology will further induce growth in the neural network software market value. Rising digitization of economies, increasing incidences of fraudulent practices and increase in the volume of data will also propel growth in the demand for neural network software.
However, dearth of skilled professionals or trained personnel will pose a major challenge to the growth of neural network software market. Also, absence of governmental compliance and government issues will further create hindrances for the growth of neural network software market. Slow adoption rate owing to operational complexities will also dampen the neural network software market growth rate.
This neural network software market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on neural network software market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Neural Network Software Market Scope and Market Size
The neural network software market is segmented on the basis of component, type, application and vertical. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of component, the neural network software market is segmented into neural network software, services, platform and other enabling services.
- On the basis of type, the neural network software market is segmented into data mining and archiving, analytical software, optimization software and visualization software.
- On the basis of application, the neural network software market is segmented into fraud detection, hardware diagnostics, financial forecasting, image optimization and other applications.
- On the basis of vertical, the neural network software market is segmented into banking financial services and insurance, government and defense, energy and utilities, healthcare, industrial manufacturing, media, telecom and IT, transportation and logistics, retail and e-commerce and others. Others segment is sub-segmented into real estate, entertainment, education and academia and computing system providers.
Global Neural Network Software Market Country Level Analysis
Global neural network software market is analysed and market size, volume information is provided by country, component, type, application and vertical as referenced above.
The countries covered in the neural network software market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America holds a prominent share in the global operational analytics market owing to the earliest adoption of advanced technological solutions such as artificial intelligence, internet of things and machine learning coupled with the presence of major key players. Asia-Pacific on the other hand is projected to score the highest CAGR for the forecast period owing to increasing IT infrastructural development and research and development activities.
The country section of the neural network software market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Neural Network Software Market Share Analysis
The neural network software market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to neural network software market.
The major players covered in the neural network software market report are IBM Corporation, Oracle, Microsoft, SAP, Google LLC, NVIDIA Corporation, Intel Corporation, Qualcomm Technologies, Inc., Alyuda Research, LLC, Neural Technologies Limited, Ward Systems Group, Inc., Afiniti, GMDH Inc., Starmind, NeuralWare, Slagkryssaren Aktiebolag, Slashdot Media, LLC, XENON Systems Pty Ltd, Xilinx and AIBrain Inc. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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