In 2027, the Global Deep Neural Networks Market is forecast to reach USD 5.98 billion. Because of the large increase in big data analytics, the emergence of deep learning through neural networks, and cognitive analytical processes in various verticals, including IT & Telecommunications, BFSI, e-commerce, and healthcare, among others, the market is expected to be driven. Among other things, the increasing deployment of deep neural networks in clinical diagnosis, image & signal analysis and interpretation, and the development of drugs & vaccines are driving market growth at large. Due to numerous application areas related to financial analysis, predictive costing, risk investigation, and others, the BFSI sector segment had a remarkable market share.
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Deep neural networks establish an artificial human-like understanding by eliminating the logical burden of an application developer and disregarding rule-based preset algorithms, which further opens up a wide range of new possibilities to solve many kinds of applications without a human inspector. The integration of neural networks makes it quite easy to work with computer visions and extends the limit of what conventional programming could do.
Further key findings from the report suggest
- The most commonly used features are software and applications, which include deep neural networks used for research simulators, building visualisation to track training processes, simulating consumer behaviour using apps and software, among others. The sub-segment of software and applications is growing at a CAGR of 22.6% over the forecast period.
- Due to its massive implementation in different sectors, particularly in the North American region, the market is projected to see substantial growth. Increased use of advanced technology in the sectors of BFSI, IT & Telecommunication and Healthcare is expected to stimulate demand for the region’s deep neural networks.
- In the field of visualisation and visual analytics, deep neural networks are widely used to communicate information and discover meaningful insights through the use of different visual encodings to transform abstract data into useful representations.
- In 2018, Switzerland’s leading AI Tech company, Starmind, announced a USD 15 million investment based on the artificial neural network in its next-generation self-learning design and algorithms.
- With a revenue share of over 45% in 2016, North America dominated the deep learning market, which is attributed to increased investment in artificial intelligence and neural networks. Over the forecast period, the high adoption of image and pattern recognition in the region is expected to open up new growth opportunities. In addition, the region is one of the early adopters of advanced technologies, allowing deep learning capabilities to be adopted at a faster pace by organisations.
- As several new measures have been taken to support the region’s artificial intelligence sector in order to boost growth and deliver a digital economy, Europe has contributed significantly to industry growth.
- Key players in the market include Google, Oracle, Microsoft, IBM, Qualcomm, Intel, Ward Systems, Starmind, Neurala, NeuralWare, and Clarifai, among others.
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For the purpose of this report, Emergen Research has segmented the global deep neural networks market on the basis of component, application, deployment mode, end-use vertical, and region:
Component Outlook (Revenue: USD Billion; 2017-2027)
- Software & Application
Application Outlook (Revenue: USD Billion; 2017-2027)
- Data Preprocessing
- Analytical Tools
Deployment Mode Outlook (Revenue: USD Billion; 2017-2027)
End-Use Vertical Outlook (Revenue: USD Billion; 2017-2027)
- IT & Telecommunication
- Electronics & Semiconductors
- Aerospace & Defense
- Healthcare & Biotechnology
- Energy & Utilities
- Manufacturing Industries
- Retail & E-Commerce
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Regional Outlook (Revenue: USD Billion; 2017-2027)
- North America
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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