(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Oct 26, 2021, 03:40 /Comserve / -- The Artificial Neural Network (ANN) market size is expected to grow from USD 117 million in 2019 to USD 296 million by 2024, at a Compound Annual Growth Rate (CAGR) of 20.5% during the forecast period.
With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.
The Artificial Neural Network (ANN) market size is expected to grow from USD 117 million in 2019 to USD 296 million by 2024, at a Compound Annual Growth Rate (CAGR) of 20.5% during the forecast period. The ANN market is driven by enhanced processing power, learning ability, and speed of neural networks to drive the growth of the market. However, Difficulty in tracking the outcomes of in-process stages can hinder the growth of the ANN market.
The ANN market is segmented based on components, such as solutions, platform/API, and services. The solution segment is expected to grow at a rapid pace during the forecast period. An efficient ANN solutions offer greater flexibility to developers for programming owing to the ability to design and train customized deep neural networks, and it also provides interfaces to common programming language. ANN solutions help organizations to perform such cognitive functions as problem-solving and machine learning.
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The Final Report will cover the impact analysis of COVID-19 on this industry: Artificial Neural Network (ANN) Market Insights by Emerging Trends, Future Growth, Revenue Analysis, Demand Forecast to 2024
The ANN market by industry vertical has been segmented into Banking, Financial Services, and Insurance (BFSI), telecommunication and IT, retail and eCommerce, healthcare and life sciences, manufacturing, government and defense, transportation and logistics, and others (media and entertainment, travel and hospitality, and education). The manufacturing segment is projected to grow at the highest CAGR during the forecast period, owing to the growing demand to predict the mechanical proprieties of processed products based on given technological parameters.
APAC to grow at the highest CAGR during the forecast period
Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. The increasing investments by the tech companies in major APAC countries, such as China India, South Korea, Japan, Australia and New Zealand (ANZ), and Rest of APAC, growing government regulations and initiatives are expected to drive the growth of the market in APAC.
Fill This Form and get the Sample Copy of This Report:
The Final Report will cover the impact analysis of COVID-19 on this industry: Artificial Neural Network (ANN) Market Insights by Emerging Trends, Future Growth, Revenue Analysis, Demand Forecast to 2024
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the ANN market.
- By Company: Tier I: 15%, Tier II: 42%, and Tier III: 43%
- By Designation: C-Level Executives: 62%, Directors: 20%, and Others: 18%
- By Region: North America: 42%, APAC: 32%, Europe: 21%, MEA: 5%, and Latin America: 5%
Research coverage
The market study covers the ANN market across segments. It aims at estimating the market size and the growth potential of this market, across different segments, such as provider, application, organization size, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall ANN market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
TABLE OF CONTENTS
1 INTRODUCTION 18
1.1 OBJECTIVES OF THE STUDY 18
1.2 MARKET DEFINITION 18
1.3 MARKET SCOPE 19
1.4 YEARS CONSIDERED FOR THE STUDY 20
1.5 CURRENCY CONSIDERED 21
1.6 STAKEHOLDERS 21
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