The global artificial neural network (ANN) market is expected to grow exponentially at an appealing CAGR over the assessment period (2018-2023). Artificial neural network also called neural network is different from the remaining machine learning algorithms which organize data or crunch numbers. This is basically a computational model that resembles the structure and function of the neuron system present in the human brain. This software can be utilized for clinical diagnosis of different diseases, drug development, medical research and interpretation of the clinical imaging techniques.
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There are various factors that is driving the growth of the artificial neural network market according to MRFR (Market Research Future) Report. These include growth in the Information Technology expenditure in the emerging nations, advancements in technology for workflow optimization, increasing demand for cloud-based solutions, need for analytics tools and spatial data, rise in market for prediction solutions, growing application areas for deep neural networks, emergence of AI (artificial intelligence), rising healthcare investment by the government especially in developed regions, increasing existence of various chronic diseases and increasing use of artificial neural network in healthcare domain. On the contrary, factors such as reluctance amid healthcare experts in adopting AI based technologies and slow digitization across the emerging economies are likely to hamper the growth of the artificial neural network market.
The segmentation analysis of the artificial neural network market is conducted on the basis of component, type, region and application. The artificial neural network market is segmented, on the basis of type, into feed forward artificial neural network, feedback artificial neural network, and others. Based on component, the artificial neural network market has been segmented into services, software, and platform. By application, the global artificial neural network market has been segmented into image analysis and interpretation, clinical diagnosis and prognostics, drug development, bioelectric signal analysis and interpretation, and others. The artificial neural network market has been segmented into the regions of Europe, Americas, Asia Pacific, and the Middle East & Africa
The regional analysis of the artificial neural network market observes that the Americas region is expected to lead the artificial neural network market due to the presence of a well-developed healthcare sector, existence of a large number of enterprises in the expansion of neural network technologies, and a high acceptance of advanced technology in the healthcare sector. The European region is anticipated to control the next principal position in the artificial neural network market. The market development in this region is accredited to the rising acceptance of artificial intelligence among healthcare providers and rising healthcare expenditure together with the growing incidence of chronic diseases.
The Asia Pacific region is projected to reveal the highest growth all over the forecast period due to the heightened economic growth of nations in the region and the mounting need to manage the mounting healthcare expenses. These factors are also accountable for the rising trend towards the digitization of patient records in the healthcare organizations in this region. The Middle Eastern & African region has the lowest stake in the artificial neural network market. Though, this region is likely to have a prospective growth opening for the artificial neural network market through the forecast period. The notable factors motivating the growth rate in this region consist of escalating technological implementations and growing healthcare investments.
Significant reductions in administrative costs are inducing further expansion of the market. The vertical additions and product tactics of the market are boosting the potential of the market players. The development of a robust value chain is further motivating the development of the market. Increased adaptability of market players to new market trends and customers inclinations are lifting the growth curve of the market and will continue do so in the forecast period. The strategic goals intended for the market are reinforced due to favorable product differentiation carried out by market competitors. The growth of the market is moving in a favorable direction due to new product launches or rising gross revenue of the players in the market. The successful implementation of strategies is expected to motivate the market in the coming years.
SwiftKey, Starmind International AG, Afiniti, IBM Corporation, Ward Systems Group, Inc., Microsoft Corporation, SAP SE, NeuroDimension, Inc., Alyuda Research, LLC, Google Inc., Neuralware, Qualcomm Technologies, Inc., Neural Technologies Limited, Intel Corporation, and Oracle Corporation are a few of the eminent contenders in the artificial neural network market globally.
- Artificial Neural Network Software Companies
- Artificial Neural Network Software Providers
- Research and Development Companies
- Government Research Institutes
- Academic Institutes and Universities
Table Of Contents:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry
5.2 Value Chain Analysis
5.3 Investment Feasibility Analysis
5.4 Pricing Analysis
Chapter 6. Global Artificial Neural Network Market, By Type
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