Neural Network Market to Reach $38,719 Million, Globally by 2023 - Opportunity Analysis and Industry Forecast 2023 - Neural Technologies Limited, SwiftKey, Starmind International AG, Afiniti, Ward Systems Group Inc.

The global neural network market was valued at $7,039 million in 2016, and is projected to reach at $38,719 million by 2023, growing at a CAGR of 28.0% from 2017 to 2023. 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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Neural network is a form of artificial intelligence, which involves a series of algorithms used to understand the relationship between datasets and to obtain desired output. This network implements a process, which is designed to incorporate the functionalities of human brain through a variety of deep learning technologies and to solve complex pattern recognition or signal processing problems. Applications of a neural network include weather prediction, handwriting recognition, oil-exploration data analysis, facial recognition, and speech-to-text transcription, and others.

Table of Content

Chapter: 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. KEY MARKET SEGMENTATION
1.5. RESEARCH METHODOLOGY

1.5.1. Secondary research
1.5.2. Primary research
1.5.3. Analyst tools and models

Chapter: 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

Chapter: 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.2.3. Top winning strategies

3.3. PORTER’S FIVE FORCES ANALYSIS

3.3.1. Moderate-to-low bargaining power of suppliers
3.3.2. Moderate-to-low bargaining power of buyers
3.3.3. Moderate-to-high threat of substitutes
3.3.4. High threat of new entrants
3.3.5. Moderate-to-high competitive rivalry

3.4. KEY PLAYER POSITIONING, 2016 (%)
3.5. MARKET DYNAMICS

3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunity

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Chapter: 4 NEURAL NETWORK MARKET BY COMPONENT

4.1. OVERVIEW
4.2. SOFTWARE

4.2.1. Key Market Trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast ($Million)

4.3. SERVICES

4.3.1. Key Market Trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast ($Million)

Chapter: 5 NEURAL NETWORK MARKET BY END-USE INDUSTRY

5.1. OVERVIEW
5.2. BANKING, FINANCIAL SERVICES & INSURANCE (BFSI)

5.2.1. Key Market Trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast ($Million)

5.3. PUBLIC SECTOR

5.3.1. Key Market Trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast ($Million)

5.4. ENERGY & UTILITIES

5.4.1. Key Market Trends
5.4.2. Key growth factors and opportunities
5.4.3. Market size and forecast ($Million)

5.5. RETAIL

5.5.1. Key Market Trends
5.5.2. Key growth factors and opportunities
5.5.3. Market size and forecast ($Million)

5.6. IT & TELECOM

5.6.1. Key Market Trends
5.6.2. Key growth factors and opportunities
5.6.3. Market size and forecast ($Million)

5.7. MANUFACTURING

5.7.1. Key Market Trends
5.7.2. Key growth factors and opportunities
5.7.3. Market size and forecast ($Million)

5.8. AEROSPACE & DEFENSE

5.8.1. Key Market Trends
5.8.2. Key growth factors and opportunities
5.8.3. Market size and forecast ($Million)

5.9. HEALTHCARE

5.9.1. Key Market Trends
5.9.2. Key growth factors and opportunities
5.9.3. Market size and forecast ($Million)

5.10. OTHERS

5.10.1. Key Market Trends
5.10.2. Key growth factors and opportunities
5.10.3. Market size and forecast ($Million)

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The growth of the neural network market is driven by growth in demand for cloud-based solutions, demand for spatial data & analytical tools, and increase in market prediction solutions. Furthermore, increased applications areas for deep neural networks are expected to create lucrative opportunities for neural network market growth. However, dearth of trained professionals is expected to hamper the market growth during the forecast period.

The software segment dominated in 2016, with around 66% revenue share of the global market. This is attributed to the improved IT infrastructure and increased cloud-related expenditures to cater to the untapped markets among the developing nations.

This report provides comprehensive analysis of

-Top impacting Growth Factors
-Competetive Analysis of Leading Market Players
-Current and Furture Market Trends
-Market Segmentation
-Revenue Estimation by 2023

The banking, financial services, and insurance (BFSI) segment dominated the global market with around 19% share in 2016, followed by IT & telecom segment. Furthermore, the aerospace & defense segment is estimated to grow at the highest CAGR of 30.2%, owing to widespread adoption of analytical tools, enhanced deep learning market, and increased aerospace & defense expenditure.

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.

The report features the competitive scenario of the neural network market and provides the comprehensive analyses of the significant growth strategies adopted by major players.

Comprehensive and Competitive Analysis of Leading Market Players

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

Key Findings of the Neural Network Market:

-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.

-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.

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