Neural Network Software Market- Growing Demand For Predictive Solutions On Account Of Exponential Increase In The Volume Of Data

According to Transparency Market Research (TMR), the global neural networks aftermarket is moderately consolidated with players such as Microsoft Corporation, SAP SE, Oracle Corporation, IBM Corporation, Google Inc., Intel Corporation, QUALCOMM Incorporated, Afiniti, Alyuda Research, LLC. and Neural Technologies Limited, leading in the market. Players in the market are diversifying their product offerings so as to gain market shares.

According to Transparency Market Research, the global neural network software market will exhibit a 22.9% CAGR and reach US$26,021.1 mn by 2025. In terms of technology, much growth can be seen within the data mining and archiving segment. On the basis of geography, North America is leading in the market on account of high acceptance of technology. Between 2017 and 2025, North America is expected to expand at a 22% CAGR. In terms of end-user, the BFSI and Healthcare segments are emerging as most promising on account of the increasing need for improved services to customers as well as the need to understand the mindset of consumers.

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GCC Nations and Asia Pacific to Show Increased Adoption Rates

There is increased adoption rate of these solutions across Asia Pacific, especially in countries such as Japan, India, and China. Moreover, the gulf cooperation Council countries such as UAE, Saudi Arabia, and South Africa are also generating High revenues in the Middle East and Africa region. The growing investment by market players with in the South America region is expected to make this Market grow in South America, with Brazil at the forefront.

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Increased Demand for Predictive Solutions Driving Growth of Market

The growing adoption of neural network software solutions is changing the way business is done. Its demand is basically driven by the growing need for predictive solutions, rising adoption of big data analytics, and advancements in technology. From several end-user Industries such as energy and utilities, media, Healthcare, and BFSI, there is a growing demand for predictive Solutions on account of exponential increase in the volume of data, and increasing digitization.