Healthcare Sector is Expected to Dominate the Global Neural Network Software Market
Increasing
Demand for AI and Machine Learning and Expanding Data Availability are major factor
attributable to the growth of the market.
According
to TechSci Research report, “Global Neural Network Software Market - Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”. The Global Neural Network
Software is anticipated to project robust growth in the forecast period with a
CAGR of 28.92% through 2028, The
artificial neural network was completely neglected in the early stage of
artificial intelligence development. Gradually recognized and became a large-scale
algorithm leading the artificial intelligence AI development trend. The
adoption of IoT and connected devices generate vast structure and unstructured
data available to the companies, which is tedious to process. Still, the
emerging analytical tools covered the gap and drove the demand for the neural
network software market. Moreover, in the analytics field, the trend towards
predictive and prescriptive analytics passing over descriptive analytics is
driving the growth of the neural network software market. The trend is booming
as the neural network software offers complete customization according to the
application.
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Based
on End-user Vertical, Healthcare
segment is expected to dominate the market during the forecast period. Healthcare
organizations are leveraging artificial neural networks (ANN) to improve care
delivery at a reduced cost. Applications of ANN to diagnosis are well-known;
however, it is increasingly used to inform healthcare management decisions.
Healthcare
has a complex data environment. In lung segmentation, deep learning is used to
segment a lung area from the rest of the anatomy so that it can be accurately
refined. Whereas bone assessment is a challenging area for direct observation,
deep learning is used to keep track of the maneuver, helping the physician
actually to observe the bone and make decisions.
IBM
suggested that with increasing capture and digitization of healthcare data such
as electronic medical records and DNA sequences, healthcare organizations are
taking advantage of analyzing large sets of routinely collected digital
information to improve service and reduce costs. Neural network software also
helps improve the performance of the standard computer in dealing with such a
vast amount of data. Intel teamed up with Philips to deliver high-performance,
efficient deep-learning inference on x-rays and computed tomography (CT) scans
without needing accelerators like GPU clusters. The global investment in AI is
focused on the vertical industry (AI+), vision, big data, data service, and
intelligent robotics.
Based
on Region, North America plays a significant role in the global Neural Network
Software market, North America is the largest region for developing the Neural
Networks market. Increasing infrastructure and Research and development have
boosted the demand for Neural Networks software for problem recognition,
forecasting, and formulation applications.
The
United States is the most technologically advanced country in this region, with
an increasing market for industries, like BFSI, Defense, Healthcare, and
Logistics, among others. The neural network software has shown disruptive
performance in the BFSI sector in evaluating loan applications and predicting
the stock market index.
For
instance, in the NASDAQ stock exchange rate prediction, it was discovered that
a network with three hidden layers was the optimized network with an accuracy
of 94.08% for the validation dataset.
Additionally,
the region continues to uphold its reputation as an early user of cutting-edge
technologies with a focus on process optimization.. ADLINK Technology Inc.
adopted Intel's OpenVino for guidance, identification, gauging, and inspection
of manufacturing processes by integrating machine learning tools. Moreover,
industries like Automotives and manufacturing in the region are heavily
investing in adopting artificial intelligence for their process optimization,
which increases the opportunity for the neural network software market.
Key
market players in the Global Neural
Network Software Market are following:-
- IBM
Corporation
- NVIDIA
Corporation
- Intel
Corporation
- Microsoft
Corporation
- Clarifai
Inc.
- Alyuda
Research LLC
- Neural
Technologies Ltd.
- GMDH
LLC
- Neural
Designer
- Neuralware
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“The
global neural network software market is driven by several key factors. The
increasing demand for artificial intelligence (AI) and machine learning (ML)
applications across industries fuels the need for neural network software.
Advancements in deep learning technologies enhance model accuracy and
efficiency, while growing computing power enables complex neural networks.
Industry-specific applications, competitive advantage, and government
initiatives further boost adoption. Accessibility of open-source frameworks and
venture capital investments in AI startups also play vital roles. The market's
growth is underpinned by AI's transformative potential in addressing diverse
business challenges and opportunities.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting firm.
Neural
Network Software Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast Segmented by Application (Fraud Detection, Hardware Diagnostics, and
Portfolio management), End-user Vertical (BFSI, Healthcare, Retail, and Defense
Agencies), By Region, Competition 2018-2028 has evaluated the future growth
potential of Global Neural Network
Software Market and provides statistics and information on market structure,
size, share, and future growth. The report is intended to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Global Neural Network Software Market.
Contact
Mr. Ken Mathews
Techsci Research
LLC
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Avenue, Suite 300,
New York, United
States- 10170
Tel:
+1-332-258-6602
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Website: www.techsciresearch.com