The Global Neural Network Market is expected to attain a market size of $45.8 billion by 2023, growing at a CAGR of 30.7% during the forecast period. The demand for neural network market is driven due to growing IT expenditure in many of the emerging nations, and need for technological advancements that is vital to optimize workflow. Neural Network Market encompasses a wide range of practices, tools, solutions, and techniques interrelated closely to a system of hardware and software. The functionalities are that of a human brain, used in conjunction with various deep learning technologies to solve pattern recognition or signal processing problems.
The process, with the help of neural net and deep learning, is used to deliver improved analytical output, and at the same time optimizing profits for different business processes. Neural networks are widely used in weather forecasting, handwriting recognition, oil-exploration data analysis, facial recognition, speech-to-text transcription, and others. Based on Types, the market report segments the market into Software and Services. Software is further categorised in Analytical Software, Optimization Software, Visualization Software, and Data Mining & Archiving. Based on Verticals, the Neural Network Market is segmented into BFSI, Public Sector, Business Function, Healthcare, Manufacturing, Retail, Telecom & IT, Aerospace & Defence, and Others. Based on Regions, the market report segments the market into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The report covers the analysis of key stake holders of the Neural Network Market. Key companies profiled in the report include Neural Technologies Limited, Microsoft Corporation (Swiftkey), Starmind International AG, Afiniti (TRG Holdings, LLC.), Ward Systems Group, Inc., GMDH LLC., Neurodimension, Inc., NeuralWare, Alyuda Research, Llc., and Olsoft Llc.