The growth of the neural network market is driven by growth in demand for cloud-based solutions, demand for spatial data & analytical tools, and increase in market for prediction solutions. In addition, growth in IT expenditure in emerging nations and technological advancements for workflow optimization fuel the demand for advanced analytical systems driving the neural network market. However, lack of trained professionals is expected to impede the market growth. Furthermore, increased application areas for deep neural networks is expected to create lucrative opportunities for neural network market growth.
The global neural network market is segmented based on component, end-use industry, and region. Based on component, it is categorized into software and services. The end-use industry segment includes banking, financial services & insurance (BFSI); public sector; energy & utilities; retail; IT & telecom; manufacturing; aerospace & defense; healthcare; and others. According to the region the market includes North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in the neural network market are Neural Technologies Limited, SwiftKey, Starmind International AG, Afiniti, Ward Systems Group, Inc., GMDH LLC., NeuroDimension, Inc., NeuralWare, Alyuda Research, LLC., and OLSOFT LLC.
KEY BENEFITS FOR STAKEHOLDERS
This report provides an overview of the trends, structure, drivers, challenges, and opportunities in the global neural network market.
Porter’s Five Forces analysis highlights the potential of buyers & suppliers, and provides insights on the competitive structure of the neural network market to determine the investment pockets of the market.
Current and future trends adopted by the key market players are highlighted to determine the overall competitiveness of the market.
The quantitative analysis of the neural network market growth from 2017 to 2023 is provided to elaborate the market potential.
Key Market Segments
By End-Use Industry
Aerospace & Defense
Banking, Financial Services, and Insurance (BFSI)
IT & Telecom
Energy & Utilities
Rest of Europe
Rest of Asia-Pacific
The key players profiled in the report:
Neural Technologies Limited
Starmind International AG
Ward Systems Group, Inc.
Alyuda Research, LLC.
1.3.KEY MARKET SEGMENTS
1.4.KEY MARKET SEGMENTATION
1.5.3.Analyst tools and models
CHAPTER 2 EXECUTIVE SUMMARY
CHAPTER 3 MARKET OVERVIEW
3.1.MARKET DEFINITION AND SCOPE
3.2.1.Top impacting factors
3.2.2.Top investment pockets
3.2.3.Top winning strategies
3.3.PORTERS FIVE FORCES ANALYSIS
3.3.1.Moderate-to-low bargaining power of suppliers
3.3.2.Moderate-to-low bargaining power of buyers
3.3.3.Moderate-to-high threat of substitutes
3.3.4.High threat of new entrants
3.3.5.Moderate-to-high competitive rivalry
3.4.KEY PLAYER POSITIONING, 2016 (%)
CHAPTER 4 NEURAL NETWORK MARKET BY COMPONENT
4.2.1.Key Market Trends
4.2.2.Key growth factors and opportunities
4.2.3.Market size and forecast ($Million)
4.3.1.Key Market Trends
4.3.2.Key growth factors and opportunities
4.3.3.Market size and forecast ($Million)
CHAPTER 5 NEURAL NETWORK MARKET BY END-USE INDUSTRY
5.2.BANKING, FINANCIAL SERVICES & INSURANCE (BFSI)
5.2.1.Key Market Trends
5.2.2.Key growth factors and opportunities
5.2.3.Market size and forecast ($Million)
5.3.1.Key Market Trends
5.3.2.Key growth factors and opportunities
5.3.3.Market size and forecast ($Million)
5.4.ENERGY & UTILITIES
5.4.1.Key Market Trends
5.4.2.Key growth factors and opportunities
5.4.3.Market size and forecast ($Million)
5.5.1.Key Market Trends
5.5.2.Key growth factors and opportunities
5.5.3.Market size and forecast ($Million)
5.6.IT & TELECOM
5.6.1.Key Market Trends
5.6.2.Key growth factors and opportunities
5.6.3.Market size and forecast ($Million)
5.7.1.Key Market Trends
5.7.2.Key growth factors and opportunities
5.7.3.Market size and forecast ($Million)
5.8.AEROSPACE & DEFENSE
5.8.1.Key Market Trends
5.8.2.Key growth factors and opportunities
5.8.3.Market size and forecast ($Million)
5.9.1.Key Market Trends
5.9.2.Key growth factors and opportunities
5.9.3.Market size and forecast ($Million)
5.10.1.Key Market Trends
5.10.2.Key growth factors and opportunities
5.10.3.Market size and forecast ($Million)
CHAPTER 6 NEURAL NETWORK MARKET BY REGION
6.2.1.Key market trends
6.2.2.Key growth factors and opportunities
6.2.3.Market size and forecast ($Million)
6.3.1.Key market trends
6.3.2.Key growth factors and opportunities
6.3.3.Market size and forecast ($Million)
184.108.40.206.Rest of Europe
6.4.1.Key market trends
6.4.2.Key growth factors and opportunities
6.4.3.Market size and forecast ($Million)
220.127.116.11.Rest of Asia-Pacific
6.5.LATIN AMERICA, THE MIDDLE EAST, AND AFRICA (LAMEA)
6.5.1.Key market trends
6.5.2.Key growth factors and opportunities
6.5.3.Market size and forecast ($Million)
CHAPTER 7 COMPANY PROFILES
7.1.NEURAL TECHNOLOGIES LIMITED
7.1.3.Key strategies & developments
7.2.3.Key strategies & developments
7.3.STARMIND INTERNATIONAL AG
7.3.3.Key strategies & developments
7.4.3.Key strategies & developments
7.5.WARD SYSTEMS GROUP, INC.
7.5.3.Key strategies & developments
7.6.3.Key strategies & developments
7.7.3.Key strategies & developments
7.8.3.Key strategies & developments
7.9.ALYUDA RESEARCH, LLC
7.9.3.Key strategies & developments
7.10.3.Key strategies & developments
Neural network is a form of artificial intelligence, which involves a series of algorithms used to understand the relationship between datasets and to obtain desired output. This network implements a process, which is designed to incorporate the functionalities of human brain through a variety of deep learning technologies and to solve complex pattern recognition or signal processing problems. Applications of neural network include weather prediction, handwriting recognition, oil-exploration data analysis, facial recognition, and speech-to-text transcription, and others.
The growth of the neural network market is driven by growth in demand for cloud-based solutions, demand for spatial data & analytical tools, and increase in market prediction solutions. Furthermore, increased applications areas for deep neural networks are expected to create lucrative opportunities for neural network market growth. However, dearth of trained professionals is expected to hamper the market growth during the forecast period.
The software segment dominated in 2016, with around 66% revenue share of the global market. This is attributed to the improved IT infrastructure and increased cloud-related expenditures to cater to the untapped markets among the developing nations.
The banking, financial services, and insurance (BFSI) segment dominated the global market with around 19% share in 2016, followed by IT & telecom segment. Furthermore, the aerospace & defense segment is estimated to grow at the highest CAGR of 30.2%, owing to widespread adoption of analytical tools, enhanced deep learning market, and increased aerospace & defense expenditure.
North America was the highest revenue contributor in 2016, accounting for around 36% share in the neural network market. However, Asia-Pacific is projected to grow at the highest CAGR of 31.0% during the forecast period.
The report features the competitive scenario of the neural network market and provides the comprehensive analyses of the significant growth strategies adopted by major players. The key players operating in the neural network market include Neural Technologies Limited, SwiftKey, Starmind International AG, Afiniti, Ward Systems Group, Inc., GMDH LLC., NeuroDimension, Inc., NeuralWare, Alyuda Research, LLC., and OLSOFT LLC.
Key Findings of the Neural Network Market:
The BFSI segment dominated the global neural network market in 2016, and the aerospace & defense segment is expected to grow at the highest CAGR during the forecast period from 2017 to 2023.
The software segment is estimated to provide significant growth opportunities to the key players operating in the global market.
The neural network market in North America is expected to be dominant, in terms of market size. However, Asia-Pacific is estimated to witness significant growth rate, during the forecast period.