Neural Network Software Global Market Is Expected To Grow At A Rate Of More Than 25% Through 2023 – 2027
22 Jun, 2023
The global neural network software market size is expected to grow from $21.26 billion in 2022 to $26.44 billion in 2023 at a compound annual growth rate (CAGR) of 24.37%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global neural network software market size is expected to reach $65.27 billion in 2027 at a CAGR of 25.34%.
Global Neural Network Software Market Key Driver
The growing demand for digitalization is projected to drive the growth of the neural network software market in the coming years. The process of converting physical, paper documents and files into digital ones is referred to as digitization. As more businesses and industries progress towards digitization, a tremendous amount of data is generated. Because of the increased availability of vast amounts of data and the development of high-performance computer systems, neural network software is becoming increasingly widely used.
Get a sample of the global neural network software market reportGlobal Neural Network Software Market Segments
The global neural network software market is segmented:
1) By Type: Data Mining And Archiving, Analytical Software, Optimization Software, Visualization Software, Other Types
2) By Component: Artificial Neural Network, Deep Neural Network, Services, Platform, Other Components
3) By End User: BFSI, Healthcare, Telecom And IT, Transportation, Other End Users
4) By Geography: The regions covered in the neural network software market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global neural network software market.
Major Neural Network Software Industry Players
Google LLC, Microsoft Corporation, Intel Corporation, IBM Corporation, Alyuda Research LLC, Neural Technologies Limited, Starmind, Ward Systems Group Inc., Afiniti, NVIDIA corporation, Oracle corporation, Qualcomm Technologies Inc., GMDH Inc., NeuralWare
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Neural Network Software Market Overview
Neural network software refers to a technique in artificial intelligence that instructs computers to analyze data in a manner patterned after the human brain. Neural network software allows users to design, train, and test neural networks for a variety of applications, such as pattern recognition, prediction, and decision-making.
Neural Network Software Global Market Report 2023 provides data on the global neural network software market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The neural network software market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.