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Market Summary

The global neural network software market is forecast to reach USD 97.11 Billion by 2026, according to a new report by Reports and Data. Neural network is the computerized models of connectionist systems that are adapted to biological neural networks. The series of algorithms imitate the human brain operations to recognize underlying relationships by considering examples and are capable of working without any involvement of humans. Typically, the neural network software distinguish the subtle nonlinear interdependencies with individual patterns of data and self-learn to produce complex decision without being programmed. The neural network software are intended for real life applications and basically represents the advanced form of artificial intelligence and exhibit the next era of computation based on cognitive computing models. This revolutionizes data mining by extracting garbage data from the big data to facilitate highly accurate predictive models using advanced preprocessing automated algorithms through cutting-edge distributed computing. The neural network software evaluates the price data which helps in making trade decisions based on data analysis. It’s been observed, the predictive decisions by the various neural network software are accurate up to 60% of the time.

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The global neural network software market is growing significantly as the demand for neural network software in healthcare and BFSI sectors are flourishing predominantly. The rising requirement of these software in clinical diagnosis, image & signal analysis and interpretation, and drug development, among others, are propelling the market growth broadly. The BFSI sector segment has the highest market share due to numerous application areas related to financial analysis, predictive costing, risk investigation, and others. Optimization in IT & telecommunication plays a significant role in this market and is forecasted to be in high demand in the forthcoming years.

The North American region held the highest market share of about 39.4% in 2018, followed by the European region, with 25.1% of market share. APAC is forecasted to achieve the fastest growth of about 33.1% throughout the forecast period, owing to its extensive growth of IoT applications, especially in emerging countries such as, China and India. A high rise in big data coupled with the development in information technology infrastructure, make these regions the fastest-growing market in the world. While, the US is headquarters to some of the vital players of this market.

Key Coverage of the Report

Region and country wise statistics of the global Neural Network Software Market from the period 2016-2026. While 2016 & 2017 has been utilized as historical data, 2018 is considered the base year. 2019-2026 have been derived as forecasts.

Estimation of the market size along with historical and forecasted trend analysis.

Various types of alternatives available have been analyzed. Statistical analysis has been conducted on obtaining the individual share of these segments.

The regulatory framework of each region.

Regional up-coming research and application outlook.

Status of on-going developments.

Regional prevalence of ambulatory care services has been mapped.

Demand and Supply GAP Analysis

Regional Competitors Pricing Strategy

Market share analysis of the top industry players

Strategic recommendations for the new entrants

Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)

Strategic recommendations in key business segments based on the market estimations

Competitive landscaping mapping the key common trends

Company profiling with detailed strategies, financials, and recent developments.

Salient Trends of the Neural Network Software Market

Rise in the big data due to growing IoT applications globally has made it very difficult to evaluate the homology in data structure models through defined algorithmic programming. Artificial neural networking software extracts the unnecessary garbage data and helps in data mining. Data preprocessing by neural network software is potentially driving the global market and are in increasing demand.

Increase in IoT applications necessitates the predictive analysis for consumer research in most of the major digital marketing industry verticals. Deep neural networking software takes out insightful data, forecasts about most accurately and helps to make the crucial decisions. Predictive analysis in various industry verticals, are propelling the market growth.

The network doesn’t have any specific structural clue and can only be achieved through making various trial and errors. Determining the structure of the system is very difficult to understand and often takes up much R&D cost and time. This factor is highly restraining the market growth and requires high investment in the research.

Data analysis simulation, determining the homology, predictive analysis, risk analysis, and business analysis are some of the applications of the analytical tools. This segment is expected to reach a market share of 40.2% by 2026, having grown with a CAGR of 30.8% during the period 2019 – 2026.

Visualization and visual analytics helps in communicating information, and discovering meaningful insights by using various visual encodings to transform abstract data into useful representations through a neural network is highly valuable. Visualization sub-segment had a market revenue of USD 2.54 Billion and is calculated to grow with a CAGR of 25.6% in the forecast period.

Service-based platforms would reach a market share of 20.6% by 2026. Service based platform clearly focuses on the common problems of the clients and provide in general solutions. The CAGR of this segment is forecasted to 21.1%.

APAC is forecasted to achieve the fastest growth of about 33.1% throughout the forecast period, owing to its massive success in the IT infrastructure coupled with the growing trend of digital marketing and eCommerce industry in countries, such as China, India, and Singapore.

In 2018, Switzerland based leading AI Tech company, Starmind, announced an investment of USD 15 Million in its self-learning next generation designing and algorithms, based on the artificial neural network.

Companies considered and profiled in this market study

Microsoft, IBM, Google, Qualcomm Incorporated, Intel Corporation, Neural Technologies Limited, SAP SE, Oracle Corporation, Ward Systems, and Slagkryssaren.

Market-O-Nomics

The valuation for the global neural network software market was USD 11.37 Billion in 2018, and it is forecasted to reach USD 97.11 Billion by 2026.

Data preprocessing type sub-segment will have a significant growth rate of 34.5% in the forecast period.

Analytical Tools sub-segment had the highest market share of 39.7% in the year 2018. The CAGR is calculated to be 30.8% throughout the forecast period.

Service based platforms sub-segment is forecasted to reach a market valuation of USD 20.03 Billion by 2026.

Commercial by availability sub-segment will achieve the highest market revenue of USD 71.37 Billion by 2026, and growing with a CAGR of 29.9% during the forecast period.

The healthcare sub-segment would achieve the highest growth rate of 33.0% during the period 2019 – 2026.

Education & research sub-segment is measured to achieve a significant CAGR of 32.2% throughout the forecast period due to the high proliferation of artificial neural network software for predicting students’ results and improving the learning power in premium K-12 educational institutes and online courses.

Segments covered in the report:

This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this report, Reports and Data have segmented the global Neural Network Software Market on the basis of the type, component, availability, end-use verticals, and region:

Type Outlook (Revenue: USD Billion; 2016-2026)

Data Preprocessing

Analytical Tools

Visualization

Optimization

Others

Component Outlook (Revenue: USD Billion; 2016-2026)

Service Based Platforms

Customized Software

Availability Mode Outlook (Revenue: USD Billion; 2016-2026)

Open Source

Commercial

End-Use Verticals Outlook (Revenue: USD Billion; 2016-2026)

Healthcare

BFSI

Retail & E-commerce

Industrial Sector

Transportation & Logistics

IT & Telecom Service

Education & Research

Others

Regional Outlook (Revenue: USD Billion; 2016-2026)

North America U.S.

Europe UK France

Asia Pacific China India Japan

MEA

Latin America Brazil

