- A neural network is a series of algorithms that imitates the brain's learning process to extract patterns. In other and simpler words, neural network software is used to work just as the human brain does
- Rising demand for predicting solutions by small and medium scale enterprises is creating lucrative growth opportunities for the neural network software market. Increasing deployment of LTE wireless broadband coupled with the increased adoption of internet of things technology will further induce growth in the neural network software market value
- North America holds a prominent share in the global Neural Network Software market, accounting for approximately 32.8% of the market in 2024. This is due to owing to the earliest adoption of advanced technological solutions such as artificial intelligence, internet of things and machine learning coupled with the presence of major key players
- Asia-Pacific, on the other hand, is projected to register the highest CAGR of 10.9% during the forecast period, driven by increasing IT infrastructural development and research and development activities
- In 2025, the Neural Network Software segment is projected to dominate the market, holding the largest share of 26.7%. This dominance is driven by the rapid adoption of AI-based decision-making systems, predictive analytics, and deep learning models across various sectors including finance, healthcare, manufacturing, and autonomous systems. Enterprises are increasingly integrating neural network software into their operations to enhance efficiency, accuracy, and data-driven insights
