The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s neural network software market report forecasts the neural network software market size to grow to $65.27 Billion by 2027, with a CAGR (compound annual growth rate) of more than 25%.

Learn More On The Neural Network Software Market Report 2023 – https://www.thebusinessresearchcompany.com/report/neural-network-software-global-market-report

Neural Network Software Market Size Forecast
The global neural network software market is expected to grow from $21.26 billion in 2022 to $26.44 billion in 2023 at a compound annual growth rate (CAGR) of 24.37%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global neural network software market size is expected to reach $65.27 billion in 2027 at a CAGR of 25.34%.

Asia-Pacific held the largest neural network software market share and was the fastest-growing region in 2022.

Key Neural Network Software Market Driver ­– Rise In Demand For Digitalization
According to a report published by the Digital Economy and Society Index (DESI), a European Commission-published annual composite index that monitors Europe’s digital performance, 55% of small and medium enterprises (SMEs) exhibited a moderate level of digital proficiency in their workplace in December 2022, while 38% of businesses used electronic platforms for information sharing. Furthermore, McKinsey, a management consulting organisation based in the United States, stated that the ‘Digital India’ project is predicted to increase the country’s digital economy to $1 trillion by 2025, up from $200 billion in 2018. As a result, the growing demand for digitalization is propelling the neural network software industry forward.

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Key Neural Network Software Market Trend – Technological Advancement
Companies in the neural network software industry are embracing new technologies in order to maintain their market position. For example, Open AI, a US-based artificial intelligence research business, launched GPT-4 in March 2023. GPT-4 is a deep neural network-based natural language processing model that accepts picture and text input and generates text outputs. GPT-4 outperforms humans in a range of academic and professional benchmarks. Furthermore, GPT-4 can tackle unique and difficult problems in mathematics, programming, vision, law, medicine, psychology, and other fields.

Neural Network Software Market Segment
1) By Type: Data Mining And Archiving, Analytical Software, Optimization Software, Visualization Software, Other Types
2) By Component: Artificial Neural Network, Deep Neural Network, Services, Platform, Other Components
3) By End User: BFSI, Healthcare, Telecom And IT, Transportation, Other End Users

Neural Network Software Market Major Players and Strategies
Major players in the neural network software market are Google LLC, Microsoft Corporation, Intel Corporation, IBM Corporation, Alyuda Research LLC, Neural Technologies Limited, Starmind, Ward Systems Group Inc., Afiniti, NVIDIA Corporation, Oracle Corporation, Qualcomm Technologies Inc., GMDH Inc., and NeuralWare.

Checkin.com, a Europe-based information technology and services, eCommerce, and online banking company, paid $4.7 million for Datacorp OÜ in December 2021. Checkin.com profited from the addition of biometric technology through GetID and increased its array of solutions for enabling clients to access online services as a result of this acquisition. Datacorp OÜ is a software development firm based in Europe that specialises in neural network techniques, computer vision, predictive analytics, and data analysis tools.

The Neural Network Software Global Market Report 2023 covers regional data on neural network software market size, neural network software market trends and drivers, opportunities, strategies, and neural network software market competitor analysis. The countries covered in the neural network software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Neural network software is an artificial intelligence technology that instructs computers to analyse data in a manner similar to the human brain. Users can use neural network software to create, train, and test neural networks for a wide range of applications such as pattern recognition, prediction, and decision-making.

View More Reports Related To The Neural Network Software Market –
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