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Neural Network Market Statistics 2030 Analysis by Key Players Neural Technologies Limited, SwiftKey, Starmind International AG, Afiniti, Ward Systems Group Inc., GMDH LLC., NeuroDimension Inc., NeuralWare, Alyuda Research LLC., OLSOFT LLC.

04-15-2020 05:07 PM CET | IT, New Media & Software

Press release from: Allied Market Research

Neural Network Market Statistics 2030 Analysis by Key Players

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 neural network include weather prediction, handwriting recognition, oil-exploration data analysis, facial recognition, and speech-to-text transcription, and others.

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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) represent the most attractive market segment that is expected to create lucrative opportunities for industry players.

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.

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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.

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

Key Benefits

1. The report provides an overview of the trends, structure, drivers, challenges, and opportunities in the global neural network market.

2. Porters Five Forces analysis highlights the potential of buyers & suppliers, and provides insights on the competitive structure of the market to determine the investment pockets of the market.

3. Current and future trends adopted by the key market players are highlighted to determine overall competitiveness of the market.

4. The quantitative analysis of the market from 2017 to 2023 is provided to elaborate the market potential.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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