Neural Network Software Market Worth $38,719 Million by 2023

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NEURAL NETWORK MARKET
Neural Network Market Component (Software and
Services) and End-use Industry ((BFSI), Public
Sector, Energy Utilities, Retail, IT Telecom,
Manufacturing, Aerospace Defense, Healthcare,
and Others) - Global Opportunity Analysis and
Industry Forecast, 2017-2023
GLOBAL OPPORTUNITY AND FORECAST 2017- 2023
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NEURAL NETWORK MARKET ANALYST REVIEW
 Increased application areas for deep neural
networks, rise in IT expenditures, and surge in
demand for cloud-based solutions drive the market
growth. In addition, recent innovations and
growth in adoption of advanced analytical systems
have further fueled the neural network market
growth. Pankaj Lanjudkar Lead Analyst, ICT at
AMR
 
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CURRENT AND FUTURE MARKET SCENARIO

• The global neural network market was valued at
  7,039 million in 2016.
• The global neural network market is projected to
  reach at 38,719 million by 2023.
• The global neural network market growing at a
  CAGR of 28.0 from 2017 to 2023. 
• The software segment is estimated to provide
  significant growth opportunities to the key
  players operating in the global market.
• The banking, financial services, and insurance
  (BFSI) represents the most attractive market
  segment that is expected to create lucrative
  opportunities for industry players.

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TOP IMPACTING FACTORS TO MARKET GROWTH

• Availability of Improved Analytical Tools and
  Predication Solutions.
• Traditionally, excessive time was consumed for
  communicating business information and making
  decisions with the help of homegrown
  applications.
• Growth in Demand for Cloud-based Solutions.
• The cloud computing model is widely adopted due
  to its powerful and flexible infrastructural
  option. Several end users adopt the cloud-based
  deployment mode to simplify the storage of data,
  as it provides remote server access on the
  internet, which provides access to unlimited
  computing power.
• Impact of Developing Economies.
• Developing countries hold a significant potential
  for the neural network market due to a low
  adoption base and developing IT infrastructure. 
• Lack of Skilled Workforce
• At present, the impact of this factor on the
  market is high, which limits the end users to
  invest into advanced solutions and services.

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NEURAL NETWORK MARKET SEGMENTATION

• BY COMPONENT
• Software
• Services

• BY END-USE INDUSTRY
• Aerospace Defense
• Banking, Financial Services, and Insurance (BFSI)
• Public Sector
• Retail
• Healthcare
• IT Telecom
• Energy Utilities
• Manufacturing
• Others

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The BFSI segment dominated the global neural
network market in 2016, and the aerospace
defense segment is expected to grow at the
highest CAGR during the forecast period from 2017
to 2023.
The software segment is estimated to provide
significant growth opportunities to the key
players operating in the global market.
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GEOGRAPHICAL OVERVIEW

• Based on region, it is analyzed across North
  America, Europe, Asia-Pacific, and LAMEA.
• The neural network market in North America is
  expected to be dominant, in terms of market size.
  However, Asia-Pacific is estimated to witness
  significant growth rate, during the forecast
  period.
• North America was the highest revenue contributor
  in 2016, accounting for around 36 share in the
  neural network market. However, Asia-Pacific is
  projected to grow at the highest CAGR of 31.0
  during the forecast period.

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DOMINATING MARKET PLAYERS PROFILED IN THE STUDY

• Neural Technologies Limited
• SwiftKey
• Starmind International AG
• Afiniti
• Ward Systems Group Inc.
• GMDH LLC.
• NeuroDimension, Inc.
• NeuralWare
• Alyuda Research, LLC.
• OLSOFT LLC.

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A Report Titled Neural Network Market-
Opportunities And Forecast, 2017 2023 has been
recently published by Allied Market Research. It
makes an In-depth Analysis of current trends,
drivers, and restraining factors that affect
Financial Ratios relevant to the industry.
Company profiles for key vendors in business
builds a comprehensive picture of profitable
opportunities from Stakeholders Perspective. To
Know More About Neural Network Market-
Opportunities and Forecast 2017 -
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10
 
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