Report Scope & Overview:
The Artificial Neural Network Market was valued at USD 216.48 million in 2022 and is predicted to increase at a CAGR of 21.4% from 2023 to 2030, reaching USD 1.02 billion.
An Artificial Neural Network (ANN) is a computational model that mimics the capability and structure of the neuron framework in the human cerebrum. The Artificial Neural Network Market is being driven by the advancement of artificial intelligence and the growing acceptance of the Artificial Neural Network organization in the medical services sector. Factors like as rising medical care use, rising hospitalizations, and rising prevalence of chronic illnesses all contribute to the Artificial Neural Network Industry Outlook's growth.
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Furthermore, counterfeit neural organizations provide significant benefits in clinical research, which is expected to drive the Artificial Neural Network Market growth throughout the forecast year. Furthermore, many businesses are working on artificial neuron network-based programming as a result of the growing popularity of artificial neural networks. For example, Microsoft's MAQ programming uses an Artificial Neural Network to extract information from the past and predict future features.
Targeted customer behavior and predicted sales are depended upon to effectively boost the Artificial Neural Network Market over the forecast period.
The structure of Artificial Neural Network phases is predicted to be aided by rapid digitalization.
Because the security and privacy of video content transmitted across several platforms can be a major problem for organizations,
The biggest Artificial Neural Network Market restraint is a lack of competent professionals to manage the artificial neural network.
Interest in geographical information and logical apparatuses is growing, as is interest in market forecasting solutions, thanks to cloud-based arrangements.
Profitable Artificial Neural Network Industry chances are based on expanded application areas for profound neural organizations.
Dealing with the encryption issues
Less number of employees willing to take up work due to uncertainty
IMPACT OF COVID-19:
The growing phenomenon of the COVID-19 virus resulted in the collapse of global economies. The governments' mandated lockdown to stop the virus from spreading had an impact on industrial progress. Only a few industries, like as healthcare and e-commerce, were able to withstand the pandemic crisis. The market is driven by the usage of artificial neural network systems in healthcare for tracking patient behaviours and in the e-commerce sector for marketing.
During the pandemic, rapid digitalization is projected to promote the implementation of artificial neural network platforms. The government's endeavor to incorporate cutting-edge artificial neural network technology into the vaccination process in order to improve the efficacy of vaccination campaigns, as well as the use of this technology to detect an existing COVID-19 therapy medicine.
Market, By Application:
Applications are used to segment ANN. Image recognition, signal recognition, data mining, and other verticals are among them (recommender system and drug discovery). Because of the increased need for active data mining to transform raw data into meaningful information, the data mining segment is the fastest-growing category in the Artificial Neural Network Market.
Market, By Deployment:
To maximize profitability and effectively automate the equipment maintenance process, the majority of suppliers in the Artificial Neural Network Market provide cloud-based maintenance solutions. Cloud-based ANN solutions are predicted to become more popular as a result of its advantages, which include easy data upkeep, cost-effectiveness, scalability, and effective administration.
KEY MARKET SEGMENTATION:
By Deployment Mode:
Training and Development
Marketing and Client Engagement
Small and Medium Enterprises
IT & Telecom
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In the worldwide ANN market, North America is predicted to have the greatest market size, while Asia Pacific (APAC) is expected to develop at the fastest CAGR during the forecast period. The biggest growth rate in APAC may be ascribed to enormous expenditures made by both the commercial and public sectors to improve their business solutions, leading in greater demand for ANN solutions used to train vast volumes of data sets with less oversight.
North America accounts for the largest share of revenue in the worldwide Artificial Neural Network Market. The ANN market in the region is undergoing substantial changes. Many North American ANN solution vendors are experimenting in the ANN industry by adding AI and deep learning capabilities into their existing ANN solutions. They are also pursuing various growth initiatives in order to increase their market position.
Oracle - Company Financial View
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||US$ 216.48 Mn|
|Market Size by 2030||US$ 1.02 Bn|
|CAGR||CAGR of 21.4% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Component (Software and Services)
• by Deployment Model (On-Premises and Cloud)
• by Enterprise Size (Large Enterprises and Small & Medium Enterprises)
• by Application (Image Recognition, Signal Recognition, Data Mining, and Others)
• by End User (BFSI, Retail, E-Commerce, IT & Telecom, Manufacturing, Healthcare, Logistics, and Others)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Google, IBM, Oracle, Microsoft, Intel, Qualcomm, Alyuda, Ward Systems, GMDH, LLC, Starmind.|
|Key Drivers||• Targeted customer behavior and predicted sales are depended upon to effectively boost the Artificial Neural Network Market over the forecast period.
• The structure of Artificial Neural Network phases is predicted to be aided by rapid digitalization.
|Market Opportunities||• Interest in geographical information and logical apparatuses is growing, as is interest in market forecasting solutions, thanks to cloud-based arrangements.|
Ans: The growth rate of the Artificial Neural Network Market is 21.4% over the forecast period 2023-2030.
Ans: The market size for the Artificial Neural Network Market was valued at USD 216.48 million in 2022.
Ans: The Covid-19 pandemic impacted the Artificial Neural Network Market significantly. The detailed analysis is included in the final report.
Ans: The key players of the Artificial Neural Network Market are Google, IBM, Oracle, Microsoft, Intel, Qualcomm, Alyuda, Ward Systems, GMDH, LLC, and Starmind.
Ans: North America region dominated the Artificial Neural Network Market.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
126.96.36.199 United Kingdom
188.8.131.52 South Korea
184.108.40.206 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Artificial Neural Network Market, by Component
9. Artificial Neural Network Market, by Deployment Mode
10. Artificial Neural Network Market, by Application
10.1 Image Recognition
10.2 Signal Recognition
10.3 Data Mining
11. Artificial Neural Network Market, by Enterprise
11.1 Large Enterprises
11.2 Small and Medium Enterprises
12. Artificial Neural Network Market, by End User
12.4 IT & Telecom
13. Regional Analysis
13.2 North America
13.2.1 the USA
13.3.2 the UK
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4.2 South Korea
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.3 South Africa
13.6 Latin America
13.6.3 Rest of Latin America
14. Company Profiles
14.1.2 Products/ Services Offered
14.1.3 SWOT Analysis
14.1.4 The SNS view
14.8 Ward Systems
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
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