Neural Network Software Market Industry Growth, Future Prospects and Forecast 20

Posted by Faraz on February 5th, 2020

Global Neural network software market is estimated to grow with a substantial rate during the forecast period. Neural network software is a system of codes used to prepare software models for various applications. The neural network system is used to solve complex signal processing or pattern recognition problems, and on the basis of the historical analysis, it predicts further actions. Neural network software falls under the ambit of one of the advanced technologies, which is being adopted in various industries including banking, logistics, and transportation, defense, government, and others. Institutes in banking sector use the neural network software to study the future trends for bonds and stock business. Defense sector uses the technology to decide over alternative strategies for national defense activities.

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Some of the market players of the global neural network software market include IBM Corp., Google, LLC, Microsoft Corp., Intel Corp., Neurala, Inc., NVIDIA Corp., Oracle Corp., SAP SE, Starmind International AG, Ward Systems Group Inc., and so forth.

Increasing demand for cloud-based technologies for solving business problems, development, and availability of improvised analytical and prediction tools and abundance of data for analysis and improvements are some of the major driving factors which are propelling the growth of the global neural network software market. With the growing cloud-based technology, its adoption is increasing rapidly in various end-use industries including the banking sector, logistics, transportation, healthcare, e-commerce, retail, and others. Neural network software simplifies the business analysis through historical data in these industries due to which the rate of adoption is increasing substantially. Factors which are challenging the market are lack of skilled workers and the high cost of R&D for neural network software.

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The global neural network software market is analyzed on the basis of type and end-user, as well as regional outlook. On the basis of type, the global neural network software market is diversified into data mining software, visualization software, optimization software, and analytical software. Based on the end-user, the market is segmented into telecom and IT, BFSI, government and defense, and others. Geographically, the global neural network software market is divided into North America, Europe, Asia-Pacific and Rest of the World.

Neural Network Software Market Segmentation

Global Neural Network Software Market by Type

  • Data Mining Software
  • Visualization Software
  • Optimization Software
  • Analytical Software

Global Neural Network Software Market by End-User

  • Telecom & IT
  • BFSI
  • Government & Defense
  • Others (Healthcare, Retail & ecommerce)

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