Market Scenario:
Market Research Future (MRFR), in the new report on the global neural network software market 2020 states governing factors of the market. The expansion of the neural network software market is likely at 19% CAGR in the forecast period 2020-2027. MRFR analysis reveals that the global neural network software market worth can rise above USD 18 Bn by 2023. The pandemic is noted to cast solid impact on the market and these consequences are studied vividly in the given report. The rise in investment of top notch companies in neural network and the development of AI Software that support neural network is expected to bolster the expansion of the neural network software market in the years ahead. The rise in the need to meet the demand of consumers can also improve the market rise. The growing need for deep learning of neural network platform and associated innovations can promote the expansion of the neural network software market across the study period. The increase in the utility of cameras and smart toys, along with self-driving vehicles can increase the end-users base, which, in turn, can impel the neural network software market.
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Segment Study
The segment evaluation of the neural network software global market is done by type, end user, and component.
The type based, the neural network software market segments are optimization software, data mining and archiving, visualization software, analytical software, and others.
The component based, the neural network software market segments are services, artificial neural networks, deep neural networks, and platform among other. The artificial neural networks segment can earn substantial revenue for the global market in the study period
The end users based, the neural network software market segments are healthcare, transportation, telecom and IT, BFSI, and others. The telecom and IT sector cab support the rise of the market in the coming years.
Regional Study
In North America, the increase in the influence of artificial intelligence services and solution can drive the growth of the regional neural network software market. The expansion of the neural network software market can be credited to the adoption of learning process that aids human brain to extract patterns and assist in smart move. The application of modern technologies and high utility of smart devices is increasing the application of neural network software in easy learning, and in the adaption and interaction of real time. These factors are expected to promote the cause the expansion of the market in the years ahead.
In Europe, the expansion of the neural network software market is likely, due to the emergence of different starts ups that deal in modern technology. The expansion of EU neural network software market is anticipated to be high. The presence of a high number of mergers and strategic partnerships among top notch players of the neural network software market can support the rise of the market across the years to come.
In APAC, the rise of the neural network software market is expected due to the high adoption of modern technologies. In addition, the rise of the IT sector and the expansion of the education industry in the region can promote the expansion of APAC neural network software market in India in the years ahead.
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Key Players
Qualcomm Technologies Inc. (U.S.)., Neuralware (U.S.), Google Inc. (U.S.), Afiniti (U.S.), Intel Corporation (U.S.), Oracle Corporation (U.S.), Starmind International AG (Switzerland), Slagkryssaren AB (Sweden), Neural Technologies Ltd. (U.K), SAP SE (Germany), Microsoft Corporation (U.S.), GMDH LLC (U.S.), Alyuda Research LLC (U.S.), IBM Corporation (U.S.), and Ward Systems Group Inc. (U.S.)
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