Artificial Neural Network - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Artificial Neural Network Market is accounted for $117.00 million in 2019 and is expected to reach $461.10 million by 2027 growing at a CAGR of 18.7% during the forecast period. Some of the key factors propelling the market growth include increasing use of emerging technologies to detect complex nonlinear relationships between variables and pattern, increasing demand to train large volume of data sets with low supervision, and growing need for enhanced processing power, learning ability and speed of neural networks. However, difficulty in tracking the outcomes of in-process stages is likely to hamper the market.
Artificial Neural Network (ANN) is a vital subset of machine learning that helps computer scientists in their work on complex tasks, such as, strategizing, making predictions, and recognizing trends. It is not like other machine learning algorithms that crunch numbers or organize data; it is an algorithm that learns from experience and repeated tasks performed by its users. ANN is a computational model based on the functions and structure of biological neural networks.
By component, the consulting services segment is expected to grow at a rapid pace during the forecast period, as consulting services help organizations to utilize ANN tools capabilities that uses graph structures for semantic queries with nodes, edges, and properties to represent and store connected data. The vendors in this market offer services to industrial customers or end-users so that they can effectively manage and deploy ANN solutions.
On the basis of geography, North America region is expected to witnessing significant growth during the forecast period, due to technological advancement and high emphasis on technological innovation in the region. Many ANN solution providers in North America are experimenting in the ANN market by integrating AI, and deep learning functionalities with their existing ANN solutions. They are also adopting various growth strategies to strengthen their positions in the market.
Some of the key players in artificial neural network market include Intel Corporation, Qualcomm Technologies, Inc., Microsoft Corporation, Google Inc., IBM Corporation, Neuralware, SwiftKey, Alyuda Research, LLC, Ward Systems Group, Inc., SAP SE, Afiniti, Microsoft, Oracle Corporation, OLSOFT LLC., GMDH, LLC, Starmind International AG, NeuroDimension, Inc., Neurala, and Clarifai.
Deployment Modes Covered:
• Data Mining
• Image Recognition
• Signal Recognition
• Pattern Matching
• Pattern Completion
• Time Series Modeling
• Image Analysis and Interpretation
• Clinical Diagnosis and Prognostics
• Bioelectric Signal Analysis and Interpretation
• Function Approximation
• Other Applications
End Users Covered:
• Government and Defense
• Transportation and Logistics
• Banking, Financial Services, and Insurance (BFSI)
• Retail and eCommerce
• Healthcare and Life Sciences
• Telecommunication and Information Technology (IT)
• Public Sector
• Energy and Utilities
• Other End Users
Organization Sizes Covered:
• Large Enterprises
• Small and Medium-Sized Enterprises
• Feedback Networks
• Lateral Networks
• Feed Forward Networks
• Multi-layer Feed Forward Neural Network
• Self-organizing Neural Network
• Single-layer Neural Network
• Temporal Neural Network
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
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