Neural Network Software Market Size, Industry & Landscape...

Neural Network Software Market Size, Industry & Landscape Outlook, Revenue Growth Analysis to 2028

Posted 2023-03-29 10:28:06

Increasing demand for commercial customized neural network software coupled with high investments in R&D of neural network software is fueling the market growth.

The global neural network software market is forecast to reach USD 152.95 Billion by 2028, according to a new report by Reports and Data. The neural network software distinguish the subtle nonlinear interdependencies with individual patterns of data and self-learn to produce complex decisions without being programmed. This revolutionizes the data mining by extracting the garbage data from the big data to facilitate highly accurate predictive models using advanced preprocessing automated algorithms. The neural network software evaluates the price data, which helps in making trade decisions based on data analysis. The predictive decisions by the various neural network software are accurate upto 60% of the time. 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.

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The information and communication technology sector is rapidly gaining traction owing to rapid technological advancements, high demand for smartphones, laptops, computers and other modern electronic devices, and increasing adoption of latest technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and cloud services. The ICT sector consists of several sections, software, hardware, telecommunications and other services. Factors such as increasing demand for advanced ICT services in BFSI, agriculture, retail, hospital and healthcare, rapid adoption of digitalization, rising number of internet users and high demand of advanced services and devices are expected to drive global market revenue growth during the forecast period. Other factors such as increasing need for managing large data base, rising concerns about data security and increasing investments in R&D activities are expected to boost market growth during the forecast period.

Competitive Landscape:

Competitive landscape of global Keyword market is quite fragmented with regional and global key players. These market players are involved in various strategies including mergers and acquisitions, collaborations, new product launches or corporate deals to retain their market position and expand their product portfolio.

some leading companies operating in the global Keyword market:

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

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The global market is further segmented into type and application:

Type Outlook (Revenue: USD Billion; 2018-2028)

Data Preprocessing
Analytical Tools
Visualization
Optimization
Others

Component Outlook (Revenue: USD Billion; 2018-2028)

Service Based Platforms
Customized Software

Availability Mode Outlook (Revenue: USD Billion; 2018-2028)

Open Source
Commercial

End-Use Verticals Outlook (Revenue: USD Billion; 2018-2028)

Healthcare
BFSI
Retail & E-commerce
Industrial Sector
Transportation & Logistics
IT & Telecom Service
Education & Research
Others

Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

North America (U.S., Canada, Mexico)
Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
Latin America (Brazil, Rest of LATAM)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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