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What Is the Estimated Market Size of the Artificial Neural Network Market In 2029?

In recent times, there has been a swift expansion in the size of the artificial neural network market. It is projected to expand from a value of $0.49 billion in 2024 to an approximate of $0.58 billion in 2025, marking a compound annual growth rate (CAGR) of 17.80%. The notable growth in the past can be credited to factors such as rising cyber threats, an escalating demand for artificial intelligence and automation, development of self-reliant systems, deeper penetration of the Internet of Things (IoT), and wider acceptance of cloud technology.

The market size of artificial neural networks is predicted to experience a swift expansion in the coming years, reaching $1.11 billion in 2029 with a compound annual growth rate (CAGR) of 17.44%. This projected growth within the forecast period can be associated with increased demand for artificial intelligence (AI) in various industries, the surge in demand for cloud-based services, expanding usage of voice assistants and conversational AI, broader adoption in the health and pharmaceutical sectors for drug discovery, and the expansion of big data. Key trends forecasted for this period encompass advancements in machine learning and neural networks, amalgamation with big data and analytics, interconnection with IoT and edge computing, a blend of hybrid cloud and edge integration, and incorporation with 5G networks.

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Which Major Market Drivers Are Expected to Boost the Growth Potential of the Artificial Neural Network Market?

The artificial neural network market is set to benefit from the surging need for cloud-based solutions. These solutions are services or applications operating from remote servers via the internet, as opposed to local servers or devices. The growing preference for these solutions comes from their potential for scalability, affordability, superior data access, and capacity to support remote teamwork – all of which align with the ever-changing requirements of contemporary businesses. Adding artificial neural networks to these cloud-based offerings augments them by facilitating enriched data processing, predictive analytics, and smart decision-making for improved performance and scalability. For example, in December 2023, Eurostat, an EU government agency based in Luxembourg, revealed a 4.2 percentage point increase in companies acquiring cloud computing services in 2023 compared to 2021. Consequently, the escalating demand for these digital solutions has fueled the artificial neural network (ANN) market’s expansion.

Which Key Market Segments Comprise the Artificial Neural Network Market and Drive Its Revenue Growth?

The artificial neural network market covered in this report is segmented –

1) By Component: Solutions, Platform Or Application Programming Interface (API), Services

2) By Deployment Mode: On-Premises, Cloud

3) By Enterprise: Large Enterprises, Small And Medium Enterprises

4) By Application: Image Recognition, Signal Recognition, Data Mining

5) By End-User: Banking, Financial Services, and Insurance (BFSI), Retail And E-Commerce, IT And Telecom, Manufacturing, Healthcare, Automotive

Subsegments:

1) By Solutions: Software Solutions, Hardware Solutions, Deployment Solutions, Data Management Solutions

2) By Platform Or Application Programming Interface (API): Cloud-Based Platforms, On-Premise Platforms, Open-Source APIs, Proprietary APIs

3) By Services: Consulting Services, Integration And Deployment Services, Support And Maintenance Services, Managed Services

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Which Areas Are Leading Regions in the Artificial Neural Network Market Expansion Across the Globe?

North America was the largest region in the artificial neural network market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial neural network market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Are the Key Market Trends in the Artificial Neural Network Market Over the Coming Years?

Leaders in the artificial neural network market, such as major companies, are prioritizing the development of innovative platforms like AI-based networking platforms. This strategy aims to enhance capabilities in data handling, improve predictive analysis, and refine machine learning models, fostering the creation of more efficient and expandable solutions across multiple sectors, including healthcare, finance, and automotive. AI-based networking platforms represent superior systems that fuse artificial intelligence with networking technologies to maximize data flow, better network administration, and boost overall performance. Particularly in February 2022, the AI for Good neural network was launched by the Switzerland-based specialized entity, the International Telecommunication Union. This revolutionary platform aims at promoting sustainable growth through the use of artificial intelligence and comes equipped with cutting-edge AI algorithms to address universal problems such as climate change, poverty, and health inequalities. Its unique factor is the capacity to process and scrutinize vast datasets from various sources, providing valuable insights that assist governments, organizations, and researchers in making informed decisions. Moreover, the platform fosters collective efforts, uniting specialists from different fields to design innovative, scalable solutions for sustainable development, thus maintaining alignment with the UN’s Sustainable Development Goals (SDGs).

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How Is the Artificial Neural Network Market Conceptually Defined?

An artificial neural network (ANN) refers to a machine learning architecture that mimics the human brain’s neural structure to process data and recognize patterns. It consists of layers of interconnected nodes, including input, hidden, and output layers, which work together to transform input data into meaningful outputs through weighted connections.

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