Global Neural Network Software Market By Component (Neural Network Software, Services, Platform and Other Enabling Services), Type (Data Mining and Archiving, Analytical Software, Optimization Software, Visualization Software), Vertical (BFSI, Government and Defense, Energy and Utilities, Healthcare, Industrial Manufacturing, Media, Telecom and IT, Transportation and Logistics, Retail and eCommerce, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) - Industry Trends and Forecast to 2026
Market Analysis: Global Neural Network Software Market
Global neural network software market is set to witness a healthy CAGR of 35.70% in the forecast period of 2019 to 2026. The report contains data of the base year 2018 and historic year 2017. This rise in the market can be attributed due to rising availability of spatial data and analytical tools and increasing demand for predicting solutions.
Market Definition: Global Neural Network Software Market
Neural network software is used to simulate study, create, and apply artificial neural networks, biological neural network-adapted software ideas, and in some instances a broader range of adaptive systems such as artificial intelligence and machine learning. Neural networks are an interesting type of artificial intelligence that imitates the brain's learning process to extract patterns to work with from historical information technology.
- Increasing demand for predicting solutions are driving this market
- Increasing deployment of LTE wireless broadband is one of the primary factors for market growth
- The growth in Internet of Things and the increased deployment of long-term evolution globally
- Exponential increase in the volume of data, increasing digitization, stringent regulations, and financial losses due to the rise in fraudulent practices is helping to grow the market
- Lack of trained people to handle software to pose as restrain to market growth
- Slow digitization rate across emerging economies hinders the market growth
Segmentation: Global Neural Network Software Market
- Neural Network Software
- Platform and Other Enabling Services
- Data Mining and Archiving
- Analytical Software
- Optimization Software
- Visualization Software
- Government and Defense
- Energy and Utilities
- Industrial Manufacturing
- Telecom and IT
- Transportation and Logistics
- Retail and eCommerce
- Real Estate
- Education and Academia
- Computing System Providers
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market:
- In July 2019, Intel and Baidu collaborated for Nervana Neural Network AI training. In addition to NNP-T collaboration, Baidu also uses Intel Xeon Scalable Processors to power its Baidu Brain infrastructure, an AI platform that provides intelligence to inner and external apps. The platform exposes over 100 AI facilities including, among other services, natural linguistic processing, speech processing, facial recognition and recognition. This collaboration will increase data security and security sensitive services like banking and autonomous driving
- In July 2019, Pittsburgh International Airport Partners with Zensors to provide TSA Lines with Live Accurate Wait Times. To solve the problem of waiting in line for security. Data collected by closed-circuit cameras will be used to produce a precise estimate within roughly two minutes of waiting time for travelers on any of the three lines at the main safety checkpoint of the airport. This will ease the problem of passengers and will keep them patient.
Global neural network software market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of neural network software market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players
Few of the major competitors currently working in the global neural network software market are Google, IBM Corporation, Microsoft, Intel Corporation, Oracle, SAP SE, Qualcomm Technologies, Inc., Alyuda Research, LLC., Neural Technologies Limited, Ward Systems Group, Inc., Afiniti, GMDH, LLC., Starmind, NeuralWare, Slagkryssaren AB, AND Corporation, Slashdot Media, XENON Systems Pty Ltd, Xilinx Inc and others.
Research Methodology: Global Neural Network Software Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved