Neural network is defined as the system of hardware and software comprising simple and highly interconnected processing elements (neurons). It is also known as artificial neural network (ANN). It is a form of artificial intelligence involving a series of algorithms and is used to understand the relationship between datasets to obtain a desired output. This network implements a process, which is designed to incorporate the functionalities of human brain through a variety of deep learning technologies to solve complex pattern recognition or signal processing problems. Applications of neural network includes weather prediction, handwriting recognition, oil-exploration data analysis, facial recognition, and speech-to-text transcription, and others. The global neural network market was valued at $7,039 million in 2016, and is projected to reach $38,719 million by 2023, growing at a CAGR of 28.0% from 2017 to 2023.
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
Key Market Segments
By Component
By End-Use Industry
By Region
The key players profiled in the report:
CHAPTER 1 INTRODUCTION
1.1.REPORT DESCRIPTION
1.2.KEY BENEFITS
1.3.KEY MARKET SEGMENTS
1.4.KEY MARKET SEGMENTATION
1.5.RESEARCH METHODOLOGY
1.5.1.Secondary research
1.5.2.Primary research
1.5.3.Analyst tools and models
CHAPTER 2 EXECUTIVE SUMMARY
2.1.CXO PERSPECTIVE
CHAPTER 3 MARKET OVERVIEW
3.1.MARKET DEFINITION AND SCOPE
3.2.KEY FINDINGS
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 (%)
3.5.MARKET DYNAMICS
3.5.1.Drivers
3.5.2.Restraints
3.5.3.Opportunity
CHAPTER 4 NEURAL NETWORK MARKET BY COMPONENT
4.1.OVERVIEW
4.2.SOFTWARE
4.2.1.Key Market Trends
4.2.2.Key growth factors and opportunities
4.2.3.Market size and forecast ($Million)
4.3.SERVICES
4.3.1.Key Market Trends
4.3.2.Key growth factors and opportunities
4.3.3.Market size and forecast ($Million)
CHAPTER 5 NEURAL NETWORK MARKET BY END-USE INDUSTRY
5.1.OVERVIEW
5.2.BANKING, FINANCIAL SERVICES & INSURANCE (BFSI)
5.2.1.Key Market Trends
5.2.2.Key growth factors and opportunities
5.2.3.Market size and forecast ($Million)
5.3.PUBLIC SECTOR
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.RETAIL
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.MANUFACTURING
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.HEALTHCARE
5.9.1.Key Market Trends
5.9.2.Key growth factors and opportunities
5.9.3.Market size and forecast ($Million)
5.10.OTHERS
5.10.1.Key Market Trends
5.10.2.Key growth factors and opportunities
5.10.3.Market size and forecast ($Million)
CHAPTER 6 NEURAL NETWORK MARKET BY REGION
6.1.OVERVIEW
6.2.NORTH AMERICA
6.2.1.Key market trends
6.2.2.Key growth factors and opportunities
6.2.3.Market size and forecast ($Million)
6.2.3.1.U.S.
6.2.3.2.Canada
6.2.3.3.Mexico
6.3.EUROPE
6.3.1.Key market trends
6.3.2.Key growth factors and opportunities
6.3.3.Market size and forecast ($Million)
6.3.3.1.UK
6.3.3.2.Germany
6.3.3.3.France
6.3.3.4.Rest of Europe
6.4.ASIA-PACIFIC
6.4.1.Key market trends
6.4.2.Key growth factors and opportunities
6.4.3.Market size and forecast ($Million)
6.4.3.1.China
6.4.3.2.India
6.4.3.3.Japan
6.4.3.4.South Korea
6.4.3.5.Rest of Asia-Pacific
6.5.LATIN AMERICA, THE MIDDLE EAST, AND AFRICA (LAMEA)
6.5.1.Key market trends
6.5.2.Key growth factors and opportunities
6.5.3.Market size and forecast ($Million)
6.5.3.1.Latin America
6.5.3.2.Middle East
6.5.3.3.Africa
CHAPTER 7 COMPANY PROFILES
7.1.NEURAL TECHNOLOGIES LIMITED
7.1.1.Company Overview
7.1.2.Financial performance
7.1.3.Key strategies & developments
7.2.SWIFTKEY
7.2.1.Company Overview
7.2.2.Financial performance
7.2.3.Key strategies & developments
7.3.STARMIND INTERNATIONAL AG
7.3.1.Company Overview
7.3.2.Financial performance
7.3.3.Key strategies & developments
7.4.AFINITI
7.4.1.Company Overview
7.4.2.Financial performance
7.4.3.Key strategies & developments
7.5.WARD SYSTEMS GROUP, INC.
7.5.1.Company Overview
7.5.2.Financial performance
7.5.3.Key strategies & developments
7.6.GMDH LLC
7.6.1.Company Overview
7.6.2.Financial performance
7.6.3.Key strategies & developments
7.7.NEURODIMENSION, INC.
7.7.1.Company Overview
7.7.2.Financial performance
7.7.3.Key strategies & developments
7.8.NEURALWARE
7.8.1.Company Overview
7.8.2.Financial performance
7.8.3.Key strategies & developments
7.9.ALYUDA RESEARCH, LLC
7.9.1.Company Overview
7.9.2.Financial performance
7.9.3.Key strategies & developments
7.10.OLSOFT LLC
7.10.1.Company Overview
7.10.2.Financial performance
7.10.3.Key strategies & developments
LIST OF TABLES
TABLE 1.NEURAL NETWORK MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 2.GLOBAL NEURAL NETWORKS MARKET REVENUE, BY COMPONENT, 2016-2023 ($MILLION)
TABLE 3.NEURAL NETWORK SOFTWARE MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 4.NEURAL NETWORK SERVICES MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 5.GLOBAL NEURAL NETWORKS MARKET REVENUE, BY END-USE INDUSTRY, 2016-2023 ($MILLION)
TABLE 6.BFSI NEURAL NETWORK MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 7.PUBLIC SECTOR NEURAL NETWORK MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 8.ENERGY & UTILITIES NEURAL NETWORK MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 9.RETAIL NEURAL NETWORK MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 10.IT & TELECOM NEURAL NETWORK MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 11.MANUFACTURING NEURAL NETWORK MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 12.AEROSPACE & DEFENSE NEURAL NETWORK MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 13.HEALTHCARE NEURAL NETWORK MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 14.OTHERS NEURAL NETWORK MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 15.GLOBAL NEURAL NETWORK MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 16.NORTH AMERICAN NEURAL NETWORK MARKET REVENUE, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 17.EUROPE NEURAL NETWORK MARKET REVENUE, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 18.ASIA-PACIFIC NEURAL NETWORK MARKET REVENUE, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 19.LAMEA NEURAL NETWORK MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 20.COMPANY SNAPSHOT: NEURAL TECHNOLOGIES LIMITED
TABLE 21.COMPANY SNAPSHOT: SWIFTKEY
TABLE 22.COMPANY SNAPSHOT: STARMIND INTERNATIONAL AG
TABLE 23.COMPANY SNAPSHOT: AFINITI
TABLE 24.COMPANY SNAPSHOT: WARD SYSTEMS GROUP, INC.
TABLE 25.COMPANY SNAPSHOT: GMDH LLC
TABLE 26.COMPANY SNAPSHOT: NEURODIMENSION, INC.
TABLE 27.COMPANY SNAPSHOT: NEURALWARE
TABLE 28.COMPANY SNAPSHOT: ALYUDA RESEARCH, LLC
TABLE 29.COMPANY SNAPSHOT: OLSOFT LLC
LIST OF FIGURES
FIGURE 1.KEY MARKET SEGMENTATION
FIGURE 2.OVERVIEW OF THE OPPORTUNITIES IN THE GLOBAL NEURAL NETWORK INDUSTRY
FIGURE 3.TOP IMPACTING FACTORS
FIGURE 4.TOP INVESTMENT POCKETS IN THE GLOBAL NEURAL NETWORK MARKET
FIGURE 5.TOP WINNING STRATEGIES
FIGURE 6.TOP WINNING STRATEGY
FIGURE 7.BARGAINING POWER OF SUPPLIERS
FIGURE 8.BARGAINING POWER OF BUYERS
FIGURE 9.THREAT OF SUBSTITUTES
FIGURE 10.THREAT OF NEW ENTRANTS
FIGURE 11.COMPETITIVE RIVALRY
FIGURE 12.KEY PLAYER POSITIONING OF GLOBAL NEURAL NETWORK MARKET, 2016 (%)
FIGURE 13.MARKET DYNAMICS
FIGURE 14.GLOBAL NEURAL NETWORK MARKET, BY COMPONENT
FIGURE 15.GLOBAL NEURAL NETWORK MARKET, BY COMPONENT, 2016-2023
FIGURE 16.GLOBAL NEURAL NETWORKS MARKET, BY END-USE INDUSTRY
FIGURE 17.GLOBAL NEURAL NETWORKS MARKET, BY END-USE INDUSTRY, 2016-2023
FIGURE 18.GLOBAL NEURAL NETWORK MARKET, BY REGION
FIGURE 19.NORTH AMERICAN NEURAL NETWORK MARKET
FIGURE 20.U.S. NEURAL NETWORK MARKET, 2016-2023 ($MILLION)
FIGURE 21.CANADA NEURAL NETWORK MARKET, 2016-2023 ($MILLION)
FIGURE 22.MEXICO NEURAL NETWORK MARKET, 2016-2023($MILLION)
FIGURE 23.EUROPE NEURAL NETWORK MARKET
FIGURE 24.UK NEURAL NETWORK MARKET, 2016-2023 ($MILLION)
FIGURE 25.GERMANY NEURAL NETWORK MARKET, 2016-2023 ($MILLION)
FIGURE 26.FRANCE NEURAL NETWORK MARKET, 2016-2023 ($MILLION)
FIGURE 27.REST OF EUROPE NEURAL NETWORK MARKET, 2016-2023 ($MILLION)
FIGURE 28.ASIA-PACIFIC NEURAL NETWORK MARKET
FIGURE 29.CHINA NEURAL NETWORK MARKET, 2016-2023 ($MILLION)
FIGURE 30.INDIA NEURAL NETWORK MARKET, 2016-2023 ($MILLION)
FIGURE 31.JAPAN NEURAL NETWORK MARKET, 2016-2023 ($MILLION)
FIGURE 32.SOUTH KOREA NEURAL NETWORK MARKET, 2016-2023 ($MILLION)
FIGURE 33.REST OF ASIA-PACIFIC NEURAL NETWORK MARKET, 2016-2023 ($MILLION)
FIGURE 34.LAMEA NEURAL NETWORK MARKET
FIGURE 35.LATIN AMERICA NEURAL NETWORK MARKET, 2016-2023 ($MILLION)
FIGURE 36.MIDDLE EAST NEURAL NETWORK MARKET, 2016-2023 ($MILLION)
FIGURE 37.AFRICA NEURAL NETWORK MARKET, 2016-2023 ($MILLION)
FIGURE 38.FINANCIAL PERFORMANCE: NEURAL TECHNOLOGIES LIMITED
FIGURE 39.FINANCIAL PERFORMANCE: SWIFTKEY
FIGURE 40.FINANCIAL PERFORMANCE: STARMIND INTERNATIONAL AG
FIGURE 41.FINANCIAL PERFORMANCE: AFINITI
FIGURE 42.FINANCIAL PERFORMANCE: WARD SYSTEMS GROUP, INC.
FIGURE 43.FINANCIAL PERFORMANCE: GMDH LLC
FIGURE 44.FINANCIAL PERFORMANCE: NEURODIMENSION, INC.
FIGURE 45.FINANCIAL PERFORMANCE: NEURALWARE
FIGURE 46.FINANCIAL PERFORMANCE: ALYUDA RESEARCH, LLC
FIGURE 47.FINANCIAL PERFORMANCE: OLSOFT LLC
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