The
report "Neural
Network Software Market by Type (Data Mining and Archiving, Analytical
Software, Optimization Software, and Visualization Software), Vertical, and
Region - Global Forecast to 2021", The global neural network software market to expand from
USD 7.17 Billion in 2016 to USD 22.55 Billion by 2021, at a Compound Annual
Growth Rate (CAGR) of 33.2%. The neural network software market is growing
rapidly owing to the increasing need for data archiving tools in order to
organize the data generated from varied end use sectors.
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The
research study for global neural network software market encompasses the
analysis of the market on the basis of software types, which is further
segmented into data mining and archiving, analytical software, visualization
software, and optimization software. The deployment of analytical software is
mainly driven by the increasing demand for data predictive solutions across
various end-use sectors especially in Banking, Financial Services, and
Insurance (BFSI), healthcare, energy & utilities, and media.
The
neural network software end users are segmented into BFSI, government &
defense, energy & utilities, media, healthcare, industrial manufacturing,
retail & eCommerce, transportation & logistics, telecom & IT, and
others. The BFSI sector holds the large scale application areas for neural
network technology, which include stock market analysis, foreign exchange
perdition, and other such activities, thereby holding the largest market share
among other end-use verticals studied for the market analysis.
The research study encompasses
regional market analysis for North America, Europe, Asia-Pacific (APAC), Middle
East and Africa (MEA), and Latin America along with some of the major countries
in the specific regions. North America is expected to hold the largest share of
the neural network software market in 2016, followed by Europe.
The
rapid developments in infrastructure and higher adoption of digital
technologies are the two major drivers that increase the demand for the neural
network software market. Furthermore, the U.S is the most technologically
advanced region with the presence of different business verticals such as BFSI,
healthcare, retail & eCommerce, energy & utilities, and many others.
The
prominent players in the artificial neural network ecosystem are Google Inc.
(California, U.S.), IBM Corporation (New York, U.S.), Microsoft Corporation
(Washington DC, U.S.), Intel Corporation (California, U.S.), Oracle Corporation
(California, U.S.), SAP SE (Waldorf, Germany), and Qualcomm Technologies Inc.
(California, U.S.). The key innovators concentrating mainly on neural network
software include Alyuda Research LLC (California, U.S.), Neural Technologies
Ltd. (England, U.K.), Ward Systems Group Inc. (Maryland U.S.), Afiniti
(Washington DC, U.S.), GMDH LLC (New York, U.S.), Starmind International AG
(Küsnacht, Switzerland), Neuralware (Pennsylvania, U.S.), Slagkryssaren AB
(Stockholm, Sweden), AND Corporation (Ontario, Canada), and Swiftkey (London,
U.K.).
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Network Software Market @ https://www.marketsandmarkets.com/Market-Reports/neural-network-software-market-45118197.html
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