The artificial neural network market is expected to grow at a compound annual growth rate (CAGR) of 19.9% from 2023 to 2032, from $ 227.8 million in 2022 to $ 1.4 billion.
.jpg "The Global Artificial Neural Network Ann Market 2022-2032 (USD Billion)")
An artificial neural network is a subcategory of the machine learning computational model. Unlike regular machine learning algorithms, it functions based on repeated tasks and experiences in the way human brain functions. The artificial neural network computational model comprises algorithms that leverage the structure of biological neural networks. The artificial neural network can be used across numerous industries. For example, across the retail industry, it can be used for forecasting sales and predicting customer behavior.
The global artificial neural network (ANN) market size is anticipated to reach USD 325 million by 2025. This can be attributed to the increasing need to train huge volumes of data. In addition, the growing need to find patterns and get insights from unstructured data is also boosting the global artificial neural network (ANN) market growth.
However, the complexities associated with tracking the outcomes are expected to hamper the market growth. Furthermore, the increasing demand for artificial neural network solutions in data analytics is anticipated to provide growth opportunities for the artificial neural network (ANN) market in the upcoming years.
Artificial Neural Network (ANN) Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Study Period | 2018-2032 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | $ 1.4 billion |
| Growth Rate | CAGR of 19.9 % during 2022-2032 |
| Segment Covered | component,Application, Industry Vertical , Region. |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Qualcomm, Starmind International, Google, Microsoft, IBM, Intel, GMDH, Alyuda, Oracle, and Ward Systems. Moreover, |
Key Segments of the Global Artificial Neural Network (ANN) Market
Component Overview
- Platform
- Services
Application Overview
- Signal Recognition
- Data Mining
- Image Recognition
- Others
Industry Vertical Overview
- BFSI
- IT & Telecom
- Healthcare
- Retail
- Manufacturing
- Others
Regional Overview
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global artificial neural network (ANN) market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global artificial neural network (ANN) market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the artificial neural network (ANN) industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on component, application, and industry vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global artificial neural network (ANN) market. The report will benefit: Every stakeholder involved in the artificial neural network (ANN) market.
- Managers within the artificial neural network (ANN) industry looking to publish recent and forecasted statistics about the global artificial neural network (ANN) market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global artificial neural network (ANN) market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
The application of the artificial neural network (ANN) market Signal Recognition, Data Mining, Image Recognition, and Others.
The market value of artificial neural network (ANN) market in 2032 was $ 1.4 billion.
The major contenders in the global market are Qualcomm, Starmind International, Google, Microsoft, IBM, Intel, GMDH, Alyuda, Oracle, and Ward Systems. Moreover,
The artificial intelligence and machine learning technologies have disrupted and constantly bringing revolutions to numerous industries such as retail, manufacturing, healthcare, BFSI, IT & Telecom, and others. For example, based on the deep learning method autonomous cars are being developed, retail and other sectors are using this technology to forecast consumers’ behavior and develop numerous business strategies. Moreover, several industry players are adopting this technology to reduce healthcare expenditure. Therefore, such a factor combined driving the demand for artificial neural network market growth globally.
Component Segment
Based on the component segment, the market is divided into platforms and services. In the year 2019, the platforms segment accounted for the highest market revenue and it is projected to hold the major market share during the forecast period. On the contrary, the services segment accumulated the highest growth and it is expected to keep its position during the forecast period.
Application Segment
Based on the application, the market is segmented into signal recognition, data mining, image recognition, and others. The image recognition segment leads the market growth in 2019 and it is projected to hold its position during the forecast years. On the contrary, the data mining segment accounted for the highest growth and it is projected to hold its position during the forecast period. The growth of this segment is mainly attributed to the increasing need to generate insights from unstructured or raw data.
Industry Vertical Segment
In terms of industry vertical, the market is segmented into BFSI, IT & telecom, healthcare, retail, manufacturing, and others. The healthcare industry captured the major market share in 2019 and it is expected to do so throughout the forecast period. The growth of this segment is mainly attributed to increasing research and development to reduce healthcare expenditures and develop new drugs. However, the manufacturing industry is projected to accumulate major market growth during the forecast period.
The North American region dominated the overall market in 2019 and it is expected to keep its position throughout the forecast period 2018-2025. The dominance of this region is mainly attributed to the on-going research and developments on deep learning and neural networks by various industry players in this region. However, the Asia-Pacific region is projected to experience the highest growth throughout the forecast period. The market growth in this region is mainly attributed to strict government regulations.
-Market-2018-2025-(USD-Million).png "North America Artificial Neural Network (ANN) Market 2018-2025 (USD Million)")
The major players of the global artificial neural network (ANN) market are Qualcomm, Starmind International, Google, Microsoft, IBM, Intel, GMDH, Alyuda, Oracle, and Ward Systems. Moreover, the other prospective players in the artificial neural network (ANN) market are Clarifai, Neurala, NeuralWare, Afiniti, and NeuroDimension. The recognized companies are coming up with innovative and new artificial neural network (ANN) Platforms. The recognized companies are coming up with innovative and new artificial neural network platforms and solutions. The artificial neural network market comprises well established local as well as global players. Also, the already recognized market players are coming up with new innovative services and solutions to stay competitive in the global market.