Global Artificial Neural Network (ANN) Market – Industry Trends and Forecast to 2029

Global Artificial Neural Network (ANN) Market, By Type (Feedback Artificial Neural Network, Feedforward Artificial Neural Network, Other), Component (Solutions, Platform/API, Services), Application (Image Recognition, Signal Recognition, Data Mining), Deployment Type (Cloud, On Premises), Organization Site (Small and Medium-Sized Enterprises, Large Enterprises), Industry (Banking, Financial Services, Insurance, Retail and Ecommerce, Healthcare and Life Sciences, Others) – Industry Trends and Forecast to 2029.

Artificial Neural Network (ANN) Market Analysis and Size

An artificial neural network (ANN) is a computational model that mimics the capacity and construction of the neuron framework in the human cerebrum. The advancement of artificial brainpower and the growing acceptance of the artificial neural network organization in the medical services sector are major drivers for the artificial neural network market. Factors such as rising medical care use, an increase in hospitalizations, and an increase in the prevalence of chronic illnesses all contribute to the growth of the artificial neural network industry outlook.

Data Bridge Market Research analyses that the artificial neural network (ANN) market was valued at USD 171.58 million in 2021 and is expected to reach the value of USD 793.63 million by 2029, at a CAGR of 21.10% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Artificial Neural Network (ANN) Market Scope and Segmentation

Market Definition

Artificial neural network (ANN) is a critical subset of machine learning that assists computer scientists with complex tasks such as strategizing, forecasting, and recognizing trends. Artificial neural networks are not like other machine learning algorithms that crunch numbers or organize data; instead, they learn from experience and repeated tasks performed by their users. A neural network is another name for an artificial neural network.

Drivers

• High penetration of predictive analysis

Key ANN features such as predicting consumer behavior and sales forecasting are expected to drive the artificial neural network market during the forecast period. Rapid digitization is expected to accelerate the adoption of artificial neural network platforms. Furthermore, artificial neural networks are widely used in the field of predictive analytics. By recognizing trends from previous marketing campaigns, artificial neural networks assist marketers in predicting the outcome of a campaign. While neural networks have been around for a while, the recent rise of Big Data has made this technology extremely useful in the field of marketing.

• High utilization from emerging and advanced economies

Artificial neural networks in natural language processing, chatbots, drug discovery, and stock market prediction have made the technology more popular in both emerging and advanced economies. Deep learning and AI integration with the existing ANN solution will encourage leading companies to prioritize investments in neural network software and services. The IT & telecom sector will have a high demand for neural network software and services, owing to the increasing penetration of cloud computing solutions.

Furthermore, the growing popularity of PaaS, Security as a Service (SECaaS), and Function as a Service (FaaS) in the IT sector bodes well for leading companies seeking to accelerate neural network market growth. Furthermore, Convolutional Neural Network (CNN) has gained popularity in artificial intelligence (AI) applications such as natural language processing, text digitization, facial recognition, signal processing, and paranoia detection.

Opportunity

• Aggressive strategies from market players

Industry participants anticipate investing in organic and inorganic strategies to expand their market penetration into previously untapped areas. Leading companies could invest in mergers and acquisitions, research and development, product launches, and product rollouts as a result.

Restraints

• Tracking difficulties

However, the increasing difficulty in tracking the outcomes of in-process stages is a critical factor among others that will limit market growth, while extrapolation issues in ANN will be a drawback to the market during the forecast period mentioned above.

This artificial neural network (ANN) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the artificial neural network (ANN) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Artificial Neural Network (ANN) Market

Coronavirus is a unique global public health crisis that has affected nearly every industry. The long-term effects are expected to impact business development during the figure time frame. This ongoing investigation strengthens the investigation system to ensure the inclusion of fundamental COVID-19 issues and common paths forward. The report disseminates information on COVID-19 while considering changes in buyer behavior and requests, purchasing designs, re-directing the inventory network, elements of current artificial neural network market influences, and critical mediations governments. The updated investigation gives insights into network execution, a cycle intended to consolidate the functionalities of the human mind through a variety of profound learning advances and address complex example recognition or sign handling issues. Climate prediction, penmanship recognition, oil-investigation information examination, facial recognition, conversation-to-message recording, and other applications of neural organization exist.

Recent Development

• On November 3, 2021 Oracle Corporation announced the availability of new AI services on Oracle cloud infrastructure. (OCI). With the new OCI AI services, developers can use pre-trained, out-of-the-box models on business-related data or custom train the services using data specific to their organisations.
• On October 29, 2021, Google LLC announced the release of Pathways, a new AI solution that combines the capabilities of multiple ML solutions on a single AI system.

Global Artificial Neural Network (ANN) Market Scope

The artificial neural network (ANN) market is segmented on the basis of type, component, application, deployment type, organization site and industry. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type  

• Feedback Artificial Neural Network
• Feedforward Artificial Neural Network
• Other

Component

• Solutions
• Platform/API
• Services

Application

• Image Recognition
• Signal Recognition
• Data Mining

Deployment type

• Cloud
• On-premise

Organization size

• Small and Medium-Sized Enterprises
• Large Enterprises

Industry

• Banking
• Financial Services
• Insurance
• Retail and Ecommerce
• Healthcare and Life Sciences
• Others

Artificial Neural Network (ANN) Market Regional Analysis/Insights

The artificial neural network (ANN) market is analysed and market size insights and trends are provided by country, type, component, application, deployment type, organization site and industry as referenced above.

The countries covered in the artificial neural network (ANN) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

The North American market is expected to have the highest demand for artificial neural networks. The United States is expected to invest significantly in the synthetic intelligence sector. Rapid technological adoption in the aerospace and defence sectors is also expected to boost market demand in the coming years.

The Asia-Pacific region is expected to grow rapidly in the coming years due to technological advancements and research activities in the military, banking and finance, automotive and transportation, and electronics and telecommunications industries. The region is a major manufacturer and developer of electronics, automobiles, and telecommunications equipment.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Artificial Neural Network (ANN) Market Share Analysis

The artificial neural network (ANN) market competitive landscape provides details by competitor. details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to artificial neural network (ANN) market.

Some of the major players operating in the artificial neural network (ANN) market are:

Neural Technologies Limited

• IBM Corporation (U.S.)
• nDimensional (U.S.)
• Alyuda Research, LLC. (U.S.)
• Microsoft (U.S.)
• SAP SE (Germany)
• Starmind (Switzerland)
• Afiniti (Bermuda)
• Ward Systems Group, Inc. (U.S.)
• Google LLC (U.S.)
• NeuralWare (U.S.)
• Qualcomm Technologies, Inc. (U.S.)
• Intel Corporation (U.S.)
• Oracle (U.S.)
• Microsoft (U.S.)