Neural Network Software: Powering the AI Revolution

"The Business Research Company recently released a comprehensive report on the Global Neural Network Software Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The neural network software market size has grown exponentially in recent years. It will grow from $26.44 billion in 2023 to $33 billion in 2024 at a compound annual growth rate (CAGR) of 24.8%. The growth in the historic period can be attributed to growing big data analytics, rise of artificial intelligence (ai), increasing awareness and education, advancements in hardware, emergence of deep learning, industry-specific applications.

The neural network software market size is expected to see exponential growth in the next few years. It will grow to $82.47 billion in 2028 at a compound annual growth rate (CAGR) of 25.7%. The growth in the forecast period can be attributed to edge computing integration, exponential growth of iot, explainable ai (xai), expansion of autonomous systems, continuous model improvement. Major trends in the forecast period include exponential growth in deep learning, automated machine learning (automl), transfer learning and pre-trained models, advancements in natural language processing (nlp, diversity in neural network architectures.

Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/neural-network-software-global-market-report

Market Drivers and Trends:

The rising demand for digitalization is expected to propel the growth of the neural network software market going forward. Digitization refers to the process of turning physical, paper documents and files into digital versions. As more and more companies and industries move towards digitalization, there is a large amount of data generated. The increase in the availability of large amounts of data and the development of high-performance computing systems enable more widespread use of neural network software. For instance, in December 2022, according to a report published by the Digital Economy and Society Index (DESI), a European Commission-published annual composite index that monitors the digital performance of Europe, 55% of small and medium enterprises (SMEs) exhibited a moderate level of digital proficiency in their workplace, while 38% of businesses used electronic platforms for sharing information. Additionally, in November 2022, according to the U.S. Bureau of Economic Analysis (BEA), a US-based government agency reported that, in 2021, the U.S. digital economy produced $3.70 trillion in current-dollar gross output in 2021, up from $3.30 trillion in 2020. Therefore, the rising demand for digitalization is driving the growth of the neural network software market.

Technological advancements are a key trend gaining popularity in the neural network software market going forward. Companies operating in the neural network software market are adopting new technologies to sustain their position in the market. For instance, in March 2023, Open AI, a US-based artificial intelligence research company, launched GPT-4. GPT-4 is a natural language processing model based on deep neural network architecture and accepts image and text input to generate text outputs. GPT-4 achieves human-level performance on a variety of academic and professional benchmarks. Additionally, GPT-4 can solve novel and challenging problems across mathematics, programming, vision, law, medicine, psychology, and more.

Key Benefits for Stakeholders:

• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=10064&type=smp

Major Key Players of the Market:

Google LLC; Microsoft Corporation; Intel Corporation; IBM Corporation; Alyuda Research LLC; Neural Technologies Limited; Starmind International AG; Ward Systems Group Inc.; Afiniti Ltd.; NVIDIA Corporation; Oracle Corporation; Qualcomm Technologies Inc.; GMDH Inc.; Amazon.com Inc.; Facebook Inc.; Cognex Corporation; BrainChip Holdings Ltd.; Skymind Inc.; Sentient Technologies; Vicarious; General Vision Inc.; Darktrace Limited; Ayasdi Inc.; Numenta Inc.; Preferred Networks Inc.; AIBrain AB; Fluid AI Inc.; Clarifai Inc.; Squirrel AI Inc.; Darwin AI

Neural Network Software Market 2024 Key Insights:

• The neural network software market will grow to $82.47 billion in 2028 at a compound annual growth rate (CAGR) of 25.7%.
• Digitalization Fueling Growth In Neural Network Software Market
• Tech Advancements Propel Neural Network Software Market
• Asia-Pacific was the largest region in the Neural network software market in 2023

We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=10064&type=smp

Contact Us:

The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.